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Hot Streaks in Your Career Don’t Happen by Accident
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Explore-Exploit Trade-off (David Epstein): A fundamental concept in decision-making that arises in many domains. It is the balancing act between two opposing strategies. Exploitation involves choosing the best option based on current knowledge of the system (which may be incomplete or misleading), while exploration involves trying out new options t
... See moreIn her 2014 book Blockbusters, Harvard Business School professor Anita Elberse showed how mega hits have become more important across the whole entertainment industry. “Smart executives bet heavily on a few likely winners. That’s where the big payoffs come from,” she writes.
We love to praise the “Big Break,” that wonderful moment when the stars align and serendipity visits you, making you an instant success. We wait for such moments, even long for them. But here’s the truth: the Big