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““While ants may be extremely strong for their weight, they're not particularly smart. Instead, the ant hill is built from the interactions between the ants, who are acting based on their own simple set of rules.””

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More by Rich Jolly

“The idea of antifragility, for which evolution is the most important example, gives us tremendous guidance: o Seek out low-cost options in your business…

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“In real life situations, there are often many feedback loops present, with perhaps several dormant feedback loops lying in wait.”

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“In system dynamic simulation, this data set is referred to as the reference behavior pattern (RBP).”

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“The negative effects of virtuous turned vicious loops is an extremely important lesson to keep in mind.”

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“7. Remember It’s Only a Model—Always remember George Box's excellent advice, “All models are wrong, but some are useful.” The feedback and delays you…

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“The scientific method asserts that one cannot prove a hypothesis, only disprove it. Seeing more white swans may strengthen the hypothesis, but seeing a…

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“Surowiecki outlined four conditions that characterized wise crowds: 1. Diversity of opinion 2. Independence 3. Decentralization 4. An aggregation mechanism”

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“Generally, the modeler should look for natural boundaries of the system to capture the most important and impactful structure.”

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“Complexity can be categorized into two types: combinatorial and dynamic.”

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“if your business ecosystem seems stable, don't be lulled into a potentially false sense of security. Big changes can happen very quickly. Don't confuse…

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“Google has studied this with their prediction markets and found evidence for better information flow for employees who were physically closer together (Cowgill et…

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