Most New Ideas Are Terrible

Source: EconLog
by Kevin Corcoran

“[The Rabbit R1] is a small device that uses AI to perform automated tasks on your behalf – they give the example of using a voice command to tell the R1 to order you an Uber, and it places the order itself without you needing to unlock your phone and use the Uber app. … I’m not sure why I’d pay $200 to pull one device out of my pocket and tell it to operate an app for me, rather than just pull my phone out of my pocket and just use the app myself. … most new ideas seem pretty ill-considered to me, and most new product innovations seem likely to fail, or at best find only niche appeal. And this very fact – the fact that new ideas mostly seem pretty terrible – highlights something I think is great about markets.” (03/27/24)