Apple

Innovation and the Base Rate

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Suppose you're told that three out of four car accidents happen within 25 miles of your home. Are you safer driving away from home? Based on this statistic alone, most people would assume they are safer. But the picture changes when you consider an important part of this scenario called the base rate.

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Don’t Fail Fast – Learn Fast

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There is a lot of chatter out there about the concept of 'failing fast' as a way of fostering innovation and reducing risk. Sometimes the concept of 'failing fast' is merged with 'failing cheap' to form the following refrain - 'fail fast, fail cheap, fail often'. The problem that I have with all of this chatter about failing fast is that does not take into account the power of language. The language focuses people on failing instead of on the goal - learning.

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