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Friday, 17 May 2019

Weekend Reading - Some Interesting Stuff


1) 4D printing can help objects transform based on external stimuli
3D printing has helped companies use that data and information to address some of these demands, allowing them to customize product designs in ways that are difficult, if not impossible, to replicate with conventional manufacturing. Considered an extension of 3D printing, 4D printing has the potential to take customization a step further by enabling 3D-printed parts to transform their shape in response to external stimuli such as heat, light, pressure, and humidity. In practical terms, this means 4D-printed objects can theoretically react much more dynamically, rather than remaining as rigid, solid structures. In the future, it may be possible to envision a time when products created with 4D printing can adapt and adjust to their surroundings, in addition to being customized to fulfil user needs.


2) Utilizing a margin of safety can serve you well in nearly any area of life
All information—no matter how bulletproof it may seem—comes with some degree of error. The future is uncertain and life always seems to get more complicated. A margin of safety acts as a buffer against the unknown, the random, and the unseen.
The world is more uncertain now than ever before. There is too much information for one person to handle, too many moving pieces for one person to manage. This is why the greatest benefit that a margin of safety provides might be reduced stress and overwhelm. Nobody can predict the future, but there is a sense of quiet confidence that comes over you when you know you are capable of handling the uncertainties of life.
If your life is designed only to handle the expected challenges, then it will fall apart as soon as something unexpected happens to you. Always be stronger than you need to be. Always leave room for the unexpected.


3) US-China Trade war can escalate and lead to long term changes in supply chains
U.S. trade policies that are not rooted in economic considerations but are driven by political postures could prove costly for U.S. businesses and consumers, in addition to eroding the country’s leverage in global trade.
If people start to think this [trade war with China] is a lasting phenomenon, you could see significant dislocations,” he added. “You could see companies relocating their supply chains; in some cases, that’s going to be moving production into China to avoid tariffs on goods exported from the U.S., and in some cases [it could mean] moving sources out of China to countries that don’t face the tariffs that China does – all that could be very disruptive.”


4) How Amazon Prime came to be one of the greatest retail innovations ever
Amazon Prime launched in February of 2005, was a first of its kind: For an upfront payment of $79, customers were rewarded with all-you-can-eat two-day delivery on their orders. At the time, Amazon charged customers $9.48 for two-day delivery, meaning if you placed just nine of these orders in a year, Prime would pay for itself.
With it, Amazon single-handedly — and permanently — raised the bar for convenience in online shopping. That, in turn, forever changed the types of products shoppers were willing to buy online. Need a last-minute gift or nearing the end of a pack of diapers? Amazon was now an alternative to the immediacy of brick-and-mortar stores.
This is the story of how the greatest retail innovation of the internet age was created, in the face of sound logic and reason that suggested it might very well be disastrous. It’s also a story of how a frankly bland idea — fast shipping — was powerful enough to alter consumer psychology forever.


5) How experts make mistakes and how only some learn from it
In Tetlock’s 20-year study, both the broad foxes and the narrow hedgehogs were quick to let a successful prediction reinforce their beliefs. But when an outcome took them by surprise, foxes were much more likely to adjust their ideas. Hedgehogs barely budged. (Hedgehogs knew “one big thing,” while the integrator foxes knew “many little things.”) Some made authoritative predictions that turned out to be wildly wrong—then updated their theories in the wrong direction. They became even more convinced of the original beliefs that had led them astray. The best forecasters, by contrast, view their own ideas as hypotheses in need of testing. If they make a bet and lose, they embrace the logic of a loss just as they would the reinforcement of a win. This is called, in a word, learning.

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