Fundamental Concepts Flashcards
What are is Lessig’s Four Modalities of Analysis
Law, Markets, Social norms, Architecture
Define Law in Lessig’s Four Modalities of Analysis
The applicable laws that relate to a piece of technology
Define Markets in Lessig’s Four Modalities of Analysis
The commercial factors that influence a piece of technology
Define Social Norms in Lessig’s Four Modalities of Analysis
The ways that people interact with each other and technology, unwritten rules that govern how we behave
Define Architecture in Lessig’s Four Modalities of Analysis
Any complex or designed physical structure
Define Forecasting
A data science technique that studies past observations and predicts future values
What are the 10 traits of super forecasting
Triage - know what you can predict and what you cannot
Subdivide your problems
Adopt the ‘outside view’
Balance reactions to evidence
Look at clashing forces
Distinguish degrees of doubt
Balance under and overconfidence
Look at your errors
Work in teams
‘Master the error balancing bicycle’
What are the four stages of Disruptive technologies’ life cycle
Emergence, Convergence, Pervasiveness, Decline
Define Emergence
A period of change for society as new technology creates new opportunities and problems
What does emergence lead to
First Mover Advantage
Define Convergence
Reduction of players in the marketplace, which contrasts with their expansion in the period of emergence
What are the two different Convergences
Horizontal Convergence, Vertical Convergence
Define Horizontal Convergence
Consolidation of many businesses into one (monopoly formation)
Define Vertical Convergence
Consolidation of supply chains
Define Pervasive
The time between technology emerging and becoming pervasive can be enormous, but it is getting shorter
