John List

And let me be clear, they're working for some people. So when I say on average, it doesn't work, that doesn't mean that it's not working for some people. And you're right. What happens now is you come to smart thermostat level two and then level three, and that product will evolve to be much more user-friendly. When we put, I used to be the chief economist at Lyft,

And when we put out products there, whether it's called walk and save or wait and save, there's always some beta testing and then some evolution to make sure people understand the new product. The general idea here, though, is you might have a voltage drop. if your estimates from the beginning were that all the users are going to 100% understand and use a technology as you estimated to start out.

And when we put out products there, whether it's called walk and save or wait and save, there's always some beta testing and then some evolution to make sure people understand the new product. The general idea here, though, is you might have a voltage drop. if your estimates from the beginning were that all the users are going to 100% understand and use a technology as you estimated to start out.

And when we put out products there, whether it's called walk and save or wait and save, there's always some beta testing and then some evolution to make sure people understand the new product. The general idea here, though, is you might have a voltage drop. if your estimates from the beginning were that all the users are going to 100% understand and use a technology as you estimated to start out.

And in many cases, that doesn't happen. And that's just a general idea of a voltage drop.

And in many cases, that doesn't happen. And that's just a general idea of a voltage drop.

And in many cases, that doesn't happen. And that's just a general idea of a voltage drop.

If you don't execute on the idea, if you're not a good manager and make good decisions, the best idea won't work. But on the other hand, if you're 100% at execution, if you're trying to scale an idea that doesn't have the good signatures, that won't scale either. So there are ideas all over the world that look good on paper, But because of bad execution, they just don't scale.

If you don't execute on the idea, if you're not a good manager and make good decisions, the best idea won't work. But on the other hand, if you're 100% at execution, if you're trying to scale an idea that doesn't have the good signatures, that won't scale either. So there are ideas all over the world that look good on paper, But because of bad execution, they just don't scale.

If you don't execute on the idea, if you're not a good manager and make good decisions, the best idea won't work. But on the other hand, if you're 100% at execution, if you're trying to scale an idea that doesn't have the good signatures, that won't scale either. So there are ideas all over the world that look good on paper, But because of bad execution, they just don't scale.

many restaurants. When you think about Jamie Oliver, that was really bad execution. So Jamie's restaurants in the UK were really good early on and the execution ended up faltering. And there are many cases like that. I think Sears and Kmart were a bit like that too. Look at the 1955 Fortune 500 companies. In 1955, if you look at those 500 companies, only 70 of those are around today.

many restaurants. When you think about Jamie Oliver, that was really bad execution. So Jamie's restaurants in the UK were really good early on and the execution ended up faltering. And there are many cases like that. I think Sears and Kmart were a bit like that too. Look at the 1955 Fortune 500 companies. In 1955, if you look at those 500 companies, only 70 of those are around today.

many restaurants. When you think about Jamie Oliver, that was really bad execution. So Jamie's restaurants in the UK were really good early on and the execution ended up faltering. And there are many cases like that. I think Sears and Kmart were a bit like that too. Look at the 1955 Fortune 500 companies. In 1955, if you look at those 500 companies, only 70 of those are around today.

Now, in many cases, those are firms like Studebaker, Zenith, et cetera. They just did not pivot. And when the times caused you to change, they refuse to change. Blockbuster is much the same way. And in many cases, when markets change, if you're not pivoting, this is a lack of execution. The idea looked good early on, but then the market changes and you're not pivoting with it.

Now, in many cases, those are firms like Studebaker, Zenith, et cetera. They just did not pivot. And when the times caused you to change, they refuse to change. Blockbuster is much the same way. And in many cases, when markets change, if you're not pivoting, this is a lack of execution. The idea looked good early on, but then the market changes and you're not pivoting with it.

Now, in many cases, those are firms like Studebaker, Zenith, et cetera. They just did not pivot. And when the times caused you to change, they refuse to change. Blockbuster is much the same way. And in many cases, when markets change, if you're not pivoting, this is a lack of execution. The idea looked good early on, but then the market changes and you're not pivoting with it.

So the world is replete with examples now where Folks are not using data or not using new elements of data science to help make decisions. And I would say that those firms are endangered. Blockbuster could have purchased Netflix for pennies on the dollar had they wanted to, but they thought that's not the future.

So the world is replete with examples now where Folks are not using data or not using new elements of data science to help make decisions. And I would say that those firms are endangered. Blockbuster could have purchased Netflix for pennies on the dollar had they wanted to, but they thought that's not the future.

So the world is replete with examples now where Folks are not using data or not using new elements of data science to help make decisions. And I would say that those firms are endangered. Blockbuster could have purchased Netflix for pennies on the dollar had they wanted to, but they thought that's not the future.

They could have easily pivoted in that direction and said, we're going to do both and we're going to be diversified, but they didn't. When you look at many firms, they start doing something very different than what they become.