Daily Productive Sharing 1089 - Ignorance Premium

Dr Selfie -

One helpful tip per day:)

When you dine out at a restaurant, why do you pay so much more for food that uses the same ingredients you could buy at home? It's likely because we don't know how to cook those dishes or don't have the tools to make them. Herbert Lui calls this extra cost the "ignorance premium":

  1. The ignorance premium is everywhere in life. For example, auto repair shops earn from our lack of knowledge about fixing cars, and PR firms profit from big companies' inability to manage public relations;
  2. To reduce the ignorance premium, we need to invest time and effort into learning those skills. The more we understand a field, the less we pay in ignorance premium;
  3. However, when the ignorance premium is excessively high in a certain field, it becomes what Elon Musk refers to as the "idiot index." These fields are ripe for disruption through innovative approaches.

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当你去外面的餐馆吃饭，明明和家里买的食材一样，为什么要付那么多钱？很可能是因为我们不会做这些菜，很可能是因为我们在家没有条件做这些菜。Herbert Lui 将这一溢价称之为“无知溢价”：

  1. 无知溢价充斥在我们的生活中，比如修车行赚取的就是我们不会修车的无知溢价，公关公司赚取的就是大公司不会做公关的无知溢价；
  2. 要想降低无知溢价，我们就要花时间精力去学习这些知识；当我们越了解某一领域，我们所付出的无知溢价就越少；
  3. 但某一领域的无知溢价过于高的时候，就变成了 Elon Musk 嘴里的傻瓜指数了。这些领域必然可以用全新的方法来革新。

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