We’re talking a lot about basketball this week…and since we have several Dukies on our team, we thought it only fitting to remind everyone of the broader lessons of tenting in K-ville. Read more below.
A deadweight loss?
In a classic episode of the podcast EconTalk, host Russ Roberts is joined by returning guest Michael Munger to discuss the economics of scarcity through the lens of the intense basketball rivalry between Duke University and the University of North Carolina (UNC). To manage the feverish demand for Duke-UNC basketball tickets, Duke University eschews simple cash transactions in favor of “Krzyzewskiville,” a sprawling, student-run tent city governed by a constitution and midnight air-horn inspections, along with an intense 58-question trivia gauntlet, all for a coveted seat in Section 17. Roberts and Munger explore why the university allows such “deadweight loss” in the thousands of hours students spend in tents in the freezing rain. Shared hardship is the ultimate lifelong fuel for alumni loyalty and builds an unparalleled brand. Ultimately, K-Ville proves that for high-stakes organizations, the most valuable asset isn’t always capital, but the friction that transforms groups into a unified, indomitable tribe.
Once more with feeling
The more ubiquitous AI becomes, the more we come in contact with its limitations, like an inability to successfully interpret human emotion and intonation. In a bid to add further sophistication to these ever-present tools, researchers have turned to mining data from actors and other performers. Your go to assistant may soon understand when your “thank you” means anything but.
Solving the wrong problem
Though the article primarily discusses software development, Andrew Murphy explains a broader phenomenon arising with our increased reliance on AI, all pulling from Eli Goldratt’s 1984 novel about manufacturing, The Goal. Impressive. In short, it doesn’t matter how quickly you’re now able to deliver new products with AI if you’re not addressing the one key bottleneck holding your entire development process back. In fact, you’re likely making it worse, delivering more clutter and less value. Take the time to find that point of constriction first, and unlock real value for your customers.