Let’s say that you’re an entrepreneur or general manager about to take a new product to market. How do you price it? Traditional economic theory tells us that the market clearing price… Read more »
Our short-term memory is widely believed to have a capacity of seven elements, plus or minus two. This assumption has influenced a number of major decisions — it’s the reason that U.S. phone numbers… Read more »
Overnight successes make for great stories, but that’s largely because they’re so rare. Success, the kind that leads to great products and businesses, is built on the foundation of a huge… Read more »
Over the past year, I’ve wished more of my friends “Happy Birthday” than I had my entire life prior to that. This summer, I’ve checked in daily with numerous friends while… Read more »
About a year ago, a friend posed to me the following question: “Why do students plunk down $150,000 for a 4-year education at MIT when virtually all of the courseware is… Read more »
After graduating from college, I left the barren Arizona desert for Manhattan to take my first job. It didn’t take long for my new Manhattanite friends to inform me that it… Read more »
My mother was a high school mathematics teacher and understood that kids learn best when learning is fun, so at a very young age she started teaching me math “tricks.” In… Read more »
If you’re out to create something truly great, you’ll likely need to challenge some widely held — but incorrect — beliefs. Challenging conventional wisdom is much harder than most people realize, and… Read more »
Some friends and I recently organized a trip to Las Vegas. We were able to find great hotel rates for Friday night, but published Saturday night rates were crazy expensive. So… Read more »
When in doubt, diversify. That’s the underlying logic behind diversifying. The benefits of diversification with respect to risk come at a cost — that of losing whatever edge you might have been able… Read more »