[Courtesy]Author Malcolm Gladwell popularised the 10,000-hour rule in which he argued that the key to achieving world-class expertise in any area was just a matter of practicing the particular skill for 10,000 hours. Why would a hitherto successful firm like Kodak collapse in the face of competition from “novice” firms like Facebook or Instagram? Kodak, Instagram and Facebook were essentially in the same business of “capturing and sharing life’s moments”. According to author, Frans Johansson, the 10,000-hour rule can only apply to situations where the rules of the game are relatively stable and predictable over a long period of time. It would apply to tennis or soccer, where the norms of the game are well known and rarely change in a drastic way.

Source: Standard Digital April 27, 2021 21:00 UTC