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Overcoming Bias Commenter's avatar

Since usually new good stuff is more fragile than old crap, there is an extremely strong barrier to entry for new good stuff.Who knows that it is more fragile? Perhaps this is where asymmetric information can actually be of benefit, in the medium-long run.

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Overcoming Bias Commenter's avatar

"On average new things are w0rse ... "

And you know this how?

I also think the phrase "usefully innovative" is unhelpful. If you look at a frequently cited definition of innovation like Peter Drucker's it refers to "changes that adds value or a new dimension of performance." The usefulness of "betterness" of what is dfferent is what qualifies it to be considered an innovation; otherwise it is just different.

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