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Embracing Uncertainty in Entrepreneurship Pedagogy | Reaction Wheel
A startup does not know what value it is creating or for whom.
Brant Cooper • The Lean Entrepreneur: How Visionaries Create Products, Innovate with New Ventures, and Disrupt Markets
Knight believed that it was radical uncertainty that created profit opportunities for entrepreneurs and that it was their skill and luck in navigating radical uncertainty which drove technical and economic progress.
Mervyn King • Radical Uncertainty
The economy, in a word, is becoming generative. Its focus is shifting from optimizing fixed operations into creating new combinations, new configurable offerings. For the entrepreneur creating these new combinations in a startup company, little is clear. He often does not know who his competitors will be. He does not know how well the new technolog
... See moreW. Brian Arthur • The Nature of Technology
But the philosophy professors and the Gladwells of the world are set in their ways, to say nothing of our politicians. It’s extremely hard to make changes in those crowded fields, even with brains and good intentions. A startup is the largest endeavor over which you can have definite mastery. You can have agency not just over your own life, but ove
... See morePeter Thiel, Blake Masters • Zero to One
For startups, the highest priority is rapid iteration, technology-driven disruption, and financial returns for investors. Their success often hinges on solving a narrowly defined problem with a single product, or within a single organization. Governments,
by contrast
, must tackle complex, interconnected issues like poverty, public health, and natio... See more
by contrast
, must tackle complex, interconnected issues like poverty, public health, and natio... See more