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Marginal improvements vs long shots

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Daniil Lanovyi
Daniil Lanovyi

Based on the following talk by Tim Harford: http://www.mindtheproduct.com/2014/01/innovations-that-matter/ There are different kinds of innovations. Innovating through marginal improvements is highly visible, measurable and overly appreciated. But not every innovation is a marginal improvements. Some are long shots. To succeed in long shots you need time, space and freedom from the pressure to deliver each day. It's not OK, not fair for all of us to get benefits of a long shots, but leave all the risks to an individual innovator. Let's share the risks of long shots as we share their benefits.

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LONG SHOTS MARGINAL IMPROVEMENTS VS LET'S SHARE THE RISK TOGETHER
DIFFERENT KINDS OF INNOVATION LONG SHOTS MARGINAL GAINS MARGINAL PROGRESS EVERY DAY EITHER MAJOR BREAKTHROUGH OR A FAILURE
WE, AS A SOCIETY, ARE NOT TOO GOOD IN HANDLING LONG SHOTS IT'S EASY TO THINK: "THAT'S TOO UNREALISTIC, THAT WOULD NEVER WORK" INSTEAD, WE SHOULD BE TRYING TO THINK: "IF THAT WOULD WORK, HOW GOOD WOULD IT BE". IT'S NOT OK FOR ALL OF US TO GET BENEFITS OF A LONG SHOTS, BUT LEAVE ALL THE RISKS TO AN INDIVIDUAL INNOVATOR.
LET'S TRY TO SHARE RISKS LET'S SHARE THE RISKS WITH INDIVIDUALS WHO DO LONG SHOTS MAYBE THEN WE'LL HAVE MORE LONG SHOTS AND MORE BREAKTHROUGH INVENTIONS THAT IMPROVE EVERYBODY'S LIFE.

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Marginal improvements vs long shots

  • 1. LONG SHOTS MARGINAL IMPROVEMENTS VS LET'S SHARE THE RISK TOGETHER
  • 2. DIFFERENT KINDS OF INNOVATION LONG SHOTS MARGINAL GAINS MARGINAL PROGRESS EVERY DAY EITHER MAJOR BREAKTHROUGH OR A FAILURE
  • 3. WE, AS A SOCIETY, ARE NOT TOO GOOD IN HANDLING LONG SHOTS IT'S EASY TO THINK: "THAT'S TOO UNREALISTIC, THAT WOULD NEVER WORK" INSTEAD, WE SHOULD BE TRYING TO THINK: "IF THAT WOULD WORK, HOW GOOD WOULD IT BE". IT'S NOT OK FOR ALL OF US TO GET BENEFITS OF A LONG SHOTS, BUT LEAVE ALL THE RISKS TO AN INDIVIDUAL INNOVATOR.
  • 4. LET'S TRY TO SHARE RISKS LET'S SHARE THE RISKS WITH INDIVIDUALS WHO DO LONG SHOTS MAYBE THEN WE'LL HAVE MORE LONG SHOTS AND MORE BREAKTHROUGH INVENTIONS THAT IMPROVE EVERYBODY'S LIFE.