Schrage says cheap experiments are worth more than good ideas: "The reality is when you do a hard-core, realistic, pragmatic analysis of the economic value of ideas, you realise for most organisations the overwhelming majority of the ideas they have, lost money. Good ideas are bad." As a research fellow at MIT's Sloan School of Management, Schrage considered the processes companies used to draw the most value from their good ideas and found, more often than not, good ideas lead to nowhere - despite what our biases have led us to believe. Schrage concluded we should remove the romance we've injected into ideas and think of them not as good ideas but as "testable hypotheses". Jumping on board before it is commercialised is less of a good idea.

Source: New Zealand Herald January 26, 2017 16:04 UTC