(The Ultimate Game)Testing your ideas against the market

[Christian McGhee]

Whats up fast laners!

I'm postive that what follows will be of IMMENSE help for all entreprenuers.

I've been doing a lot of research on a topic called the "Intelligence Cycle."
Extremely exciting stuff, so heres the basics:

Def: The Intelligence Cycle is the process of developing raw information into finished intelligence for policymakers to use in decisionmaking and action.

Intelligence cycle - Wikipedia

So the CIA, and other branches use this process to make decisions. The goal being to turn "abstract" information into intelligence which can be acted upon.

Theres a big correlation here for fastlaners.

So my question is, what processes do you have in play, that helps you to make sense of the world around you.

Love to here some of your personal examples and rituals!

 

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[ApparentHorizon]

That's really interesting. It seems to be a derivative of the scientific method. Which sets out to disprove an idea, rather than finding a correlation between the data.

That plays into how billionaires think overall. Like my homie Munger, in the profile pic, they're more pessimistic. It's not that they're debbie-downers. Rather, they realistically weigh potential negative outcomes to prepare for them. While most people have a self-serving bias. Meaning they can't effectively criticize themselves to get better.

There's also a version of the intelligence cycle for business, which measures KPIs. I've seen these in larger businesses. 1000+ employees, because it safely uncovers 2-3% gains in efficiency implemented by middle management.

Where the IC you posted, shines through is in crowded markets. When you have something like APP development, for example, it's almost comical how easy it is to find a whitespace.

"But there's an app for everything. All of the ideas are taken."

A great friend of mine works at a large investment firm, and he analyzes SaaS companies. To up his game, and stand out from his fellow MBAs, he started learning programming in Java and Swift. Less than a year into it, he's already put out 3 apps.

2 are doing OK, bringing in a few hundred a mo. And the 3rd is doing $3.1k/mo. All on autopilot.

 

[Real Deal Denver]

That plays into how billionaires think overall. Like my homie Munger, in the profile pic, they're more pessimistic. It's not that they're debbie-downers. Rather, they realistically weigh potential negative outcomes to prepare for them. While most people have a self-serving bias. Meaning they can't effectively criticize themselves to get better.

THANK YOU for this insight. This validates my thinking and method of looking for the hidden flaws, and the hidden dangers inherit in things.

I am not the rah rah type. Rather, I am the devil's advocate and I tear things apart. If they can still keep their luster after I'm through; it's a damn good idea/product! Then, it's all systems go, full speed ahead.