Mike Arauz is a strategist at Why do young entrepreneurs have an advantage over older ones?
I came across this great little essay by Clay Shirky yesterday. He argues that youth really does give young entrepreneurs an edge. Not because they have more energy, or more passion, but because they have less experience.
Imagine a bag of black and white balls, with a slight majority of white. Drawing out a single ball would provide little information beyond “There is at least one white (or black) ball in this bag.”...By a thousand draws, you could put a rough percentage on that imbalance, and by ten thousand draws, you could say something like “53% white to 47% black” with some confidence.
But what would happen if the contents of the bag changed overnight? What if the bag suddenly started yielding balls of all colors and patterns — black and white but also green and blue, striped and spotted?
His analysis is much more in-depth than this, and is very insightful. Go read it. (h/t Kottke)
Imagine a bag of black and white balls, with a slight majority of white. Drawing out a single ball would provide little information beyond “There is at least one white (or black) ball in this bag.”...By a thousand draws, you could put a rough percentage on that imbalance, and by ten thousand draws, you could say something like “53% white to 47% black” with some confidence.
But what would happen if the contents of the bag changed overnight? What if the bag suddenly started yielding balls of all colors and patterns — black and white but also green and blue, striped and spotted?
His analysis is much more in-depth than this, and is very insightful. Go read it. (h/t Kottke)
Tuesday, May 22, 2007
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