Adapt: Why Success Always Starts with Failure
So are you an economic missionary, or is this just something that you love to do?
It began as something that I love to do--and I think I am now starting to get a sense of it being a mission. People can use economics and they can use statistics and numbers to get at the truth and there is a real appetite for doing so. This is such a BBC th
My summary of the thesis: success in anything is best achieved through lightweight experimentation, copious failure (and the learning that goes with it), and a rigorous selection algorithm.
Stated this way, it sounds obvious, but this is the opposite of how most for-profit companies, governments, and individuals behave in their own pursuits: big investments in centralized a ...more
If you accept that "failure is not an option" is an oddity of thought given how failure itself has led to so many new and exciting developments, then the question turns on what is failure? ...more
Additionally, new concepts ...more
Well, ask any scientist (and especially evolutionary biologists) how they feel about failure and adapting to it and you will see why this is yet another case of preaching to the choir. All in all, this book is a long essay on why you should not only accept failure but embrace it. ...more
The book’s central theme is that an adaptive/evolutionary approach which embraces safe failure is the only real way to achieve lasting success. Specifically Hartford argues against ...more
Some things I learned:
- ' A person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise.'
This certainly explains some downward spirals/mid-life crises. A good friend, or reconnecting with common sense to cut losses is beneficial. The ...more
Harford's theory is essentially that just as in the biological world, the financial, military and personal realms need to undergo their own evolution to succeed.
Throughout the novel, Harford examines the financial collapse of 08, the BP oil spil ...more
While this central thesis is easy to state, and is largely outlined in the first few chapters, the book ...more
Essentially, he argues, success grows out of a process akin to Natural Selection. This leads away from seeing progress as top-down to innovation being rather wild 'in the field' (Cf. divine creation vs Darwinian evolution.)
Largely he is not thinking of individual success but something larger scale: milita ...more
Although the title is 'adapt', the subtitle ...more