Create a system to balance the explore-exploit tradeoff. It’s a cycle.
What I have found is that decisions are supported by data, not by feelings of regret. If you want to justify dedicating engineers to a project, bring data. How do big tech companies justify the projects they launch? They develop systems to get this data.
First, create a map. Aim for breadth, not depth.
As you find relevant resources, you index them into your map. You know they exist and where to find them, nothing more.
The smartest thing seems to explore your surroundings up to a certain radius and create a map
The more you explore, the easier it is to draw into your map
The effort of each new initiative grows bigger and it’s not sustainable. Prioritize and drop some of them. Try to delegate and sponsor others into the ones that were making progress.
Well, you have a bunch of deadlines and projects to deliver. Exploring something new endangers the delivery. You may end up working overtime to go back to the old approach.
Humans are biased. We value more a reward in the present than in the future. We are not able to identify when an action brings a positive or negative outcome.
His framework? The regret minimization framework.
The idea is to have people dedicate 20% of their time to exploring the things they thought would benefit Google the most. Everyone has to provide some outcome, like a presentation with the team of the learnings.
You own your career growth and you own your exploration.
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