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Just my thoughts #0796

The Paradox of Development. In 2008, Google created a system to predict flu outbreaks in advance. Initially, the tool accurately forecasted when and where the flu might occur. However, in 2013, a new feature was added that suggested related search terms. As a result, searchers began inputting their queries less carefully, which led to a decline in the system’s predictive performance. Although improvements have been made since then, this example illustrates how enhancements in one area can cause failures in another. Therefore, it seems like we gain by losing, and often lose by gaining. - Joseph’s “just my thoughts”

Just my thoughts #0323

Netflix initially started as a DVD rental service and grew, but it soon encountered a crisis with video streaming technology. Nevertheless, it wasn’t feasible to abruptly abandon the existing business and transition to a digital distribution model, highlighting the significant conflict involved! Video streaming technology is not a complementary service to DVD rental; rather, it serves as an alternative. When expanding or improving a business, it’s crucial to clearly understand the defining attributes of the target product or service. Burgers and French fries complement each other, while burgers and chicken sandwiches are substitutes. - Joseph’s “just my thoughts”

Just my thoughts #0150

The product itself that needs to be sold and developed is the media, but many people plan products to sell on the media. If you cannot accept the world that the product has become the media, you will be ruined. Digital tools have turned the virtual world into reality, and social media is turning it into revenue. Manufacturing is no longer a smokestack industry. It is a world in which it is difficult to plan even the products sold in a mom-and-pop store without considering the media. - Joseph’s “just my thoughts”