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	<title>Comments on: The Wisdom of Niches:  Why Experts Still Matter</title>
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	<link>http://www.businesspundit.com/the-wisdom-of-niches-why-experts-still-matter/</link>
	<description>Entrepreneurship, Startup Companies and Business Philosophy</description>
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		<title>By: Drug Treatment</title>
		<link>http://www.businesspundit.com/the-wisdom-of-niches-why-experts-still-matter/comment-page-1/#comment-729</link>
		<dc:creator>Drug Treatment</dc:creator>
		<pubDate>Tue, 15 May 2007 21:44:15 +0000</pubDate>
		<guid isPermaLink="false">http://www.businesspundit.com.php5-6.websitetestlink.com/?p=2608#comment-729</guid>
		<description>i think an expert&#039;s opinion is welcomed but let&#039;s face the fact that crowds have been and will always influence the power of the leader(s).
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		<content:encoded><![CDATA[<p>i think an expert&#8217;s opinion is welcomed but let&#8217;s face the fact that crowds have been and will always influence the power of the leader(s).</p>
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		<title>By: Quantros</title>
		<link>http://www.businesspundit.com/the-wisdom-of-niches-why-experts-still-matter/comment-page-1/#comment-728</link>
		<dc:creator>Quantros</dc:creator>
		<pubDate>Sun, 29 Oct 2006 19:24:43 +0000</pubDate>
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		<description>They are the basis of creativity. But there is difference between knowing about something and understanding something. Host Decker Marketing goes for the straightfoward approach and kindly includes my post about comparing Google to a couple of new niche search. Just exactly what I wanted to say.
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		<content:encoded><![CDATA[<p>They are the basis of creativity. But there is difference between knowing about something and understanding something. Host Decker Marketing goes for the straightfoward approach and kindly includes my post about comparing Google to a couple of new niche search. Just exactly what I wanted to say.</p>
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		<title>By: Sayo</title>
		<link>http://www.businesspundit.com/the-wisdom-of-niches-why-experts-still-matter/comment-page-1/#comment-727</link>
		<dc:creator>Sayo</dc:creator>
		<pubDate>Sat, 19 Aug 2006 22:07:56 +0000</pubDate>
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		<description>I think that that book should be used only for adults not freshmen that ARE FOCED TO READ IT ITS BORING SORRY BUT ITS THE TRUTH
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		<content:encoded><![CDATA[<p>I think that that book should be used only for adults not freshmen that ARE FOCED TO READ IT ITS BORING SORRY BUT ITS THE TRUTH</p>
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		<title>By: Rob</title>
		<link>http://www.businesspundit.com/the-wisdom-of-niches-why-experts-still-matter/comment-page-1/#comment-726</link>
		<dc:creator>Rob</dc:creator>
		<pubDate>Sun, 26 Mar 2006 19:06:07 +0000</pubDate>
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		<description>Mark,
I disagree with that.  Fermat&#039;s Last Theorem was proven by a mathematician who worked on the problem for years, not a lawyer with a little interest in math.

On the flip side, reading a puff piece in the NYTimes about chaos theory doesn&#039;t mean I really understand it.

Granted, we can find reveresed examples.  Much of Darwin&#039;s thought was influenced by Thomas Malthus.  New ideas in A.I. come from all over the place, including fields as broad as biology, neuroscience, computer science, electrical engineering, robotics, linguistics, philosophy and psychology.

I agree that horizontal connections are important.  They are the basis of creativity.  But there is difference between knowing about something and understanding something.

It seems to me (and this is admittedly, purely anecdotal) that people tend to skim lots of sources and then mention them in passing as if they know what they are talking about.  They are trying to sound smart.

On the flip side, I think there are lots of people in this world that never dig in and understand anything - not one single idea - on a decent level of depth.  I equate it to reading music.  At first you sit and think about the notes.  Then you start to recognize some patterns.  A &#039;C&#039; maps directly to a finger position instead of having that intermediate &#039;oh that&#039;s a C&#039; step.  Then one day you don&#039;t even think about what chord it is, you just play.  I think people can do this in business too.  You start to *feel* things, not in an emotional sense but in a know-it-like-the-back-of-your-hand sense.

I&#039;m not disagreeing that breadth is important.  I just think most people fall into your description of &quot;throwing out half understood terms.&quot;

What prompted the post is that people no longer seem to see the value of digging deep into an area of knowledge, and I think that still has tremendous value.  Depth is being ignored in exchange for ever shallower breadth.
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		<content:encoded><![CDATA[<p>Mark,<br />
I disagree with that.  Fermat&#8217;s Last Theorem was proven by a mathematician who worked on the problem for years, not a lawyer with a little interest in math.</p>
<p>On the flip side, reading a puff piece in the NYTimes about chaos theory doesn&#8217;t mean I really understand it.</p>
<p>Granted, we can find reveresed examples.  Much of Darwin&#8217;s thought was influenced by Thomas Malthus.  New ideas in A.I. come from all over the place, including fields as broad as biology, neuroscience, computer science, electrical engineering, robotics, linguistics, philosophy and psychology.</p>
<p>I agree that horizontal connections are important.  They are the basis of creativity.  But there is difference between knowing about something and understanding something.</p>
<p>It seems to me (and this is admittedly, purely anecdotal) that people tend to skim lots of sources and then mention them in passing as if they know what they are talking about.  They are trying to sound smart.</p>
<p>On the flip side, I think there are lots of people in this world that never dig in and understand anything &#8211; not one single idea &#8211; on a decent level of depth.  I equate it to reading music.  At first you sit and think about the notes.  Then you start to recognize some patterns.  A &#8216;C&#8217; maps directly to a finger position instead of having that intermediate &#8216;oh that&#8217;s a C&#8217; step.  Then one day you don&#8217;t even think about what chord it is, you just play.  I think people can do this in business too.  You start to *feel* things, not in an emotional sense but in a know-it-like-the-back-of-your-hand sense.</p>
<p>I&#8217;m not disagreeing that breadth is important.  I just think most people fall into your description of &#8220;throwing out half understood terms.&#8221;</p>
<p>What prompted the post is that people no longer seem to see the value of digging deep into an area of knowledge, and I think that still has tremendous value.  Depth is being ignored in exchange for ever shallower breadth.</p>
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		<title>By: laurence haughton</title>
		<link>http://www.businesspundit.com/the-wisdom-of-niches-why-experts-still-matter/comment-page-1/#comment-725</link>
		<dc:creator>laurence haughton</dc:creator>
		<pubDate>Sun, 26 Mar 2006 18:04:31 +0000</pubDate>
		<guid isPermaLink="false">http://www.businesspundit.com.php5-6.websitetestlink.com/?p=2608#comment-725</guid>
		<description>Mark makes a great point.

My favorite quote about business decisions is that &quot;you need to be widely informed and need to think straight.  There are no exotic models or magic formulas you can depend on.&quot;

But in my experience no one person can be informed widely enough nor can they consistantly think straight.

Therefore great business decisions takes a &quot;team&quot; with the right people all willing to communicate, coordinate, and collaborate. It&#039;s kind of a wisdom of crowds thing without &quot;the ignorant and the crazy.&quot;
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		<content:encoded><![CDATA[<p>Mark makes a great point.</p>
<p>My favorite quote about business decisions is that &#8220;you need to be widely informed and need to think straight.  There are no exotic models or magic formulas you can depend on.&#8221;</p>
<p>But in my experience no one person can be informed widely enough nor can they consistantly think straight.</p>
<p>Therefore great business decisions takes a &#8220;team&#8221; with the right people all willing to communicate, coordinate, and collaborate. It&#8217;s kind of a wisdom of crowds thing without &#8220;the ignorant and the crazy.&#8221;</p>
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		<title>By: J</title>
		<link>http://www.businesspundit.com/the-wisdom-of-niches-why-experts-still-matter/comment-page-1/#comment-724</link>
		<dc:creator>J</dc:creator>
		<pubDate>Sat, 25 Mar 2006 17:57:39 +0000</pubDate>
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		<description>I should clarify - breadth enhances your ability to know THAT you don&#039;t know, not WHAT you don&#039;t know.  Bad wording on my part there.
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		<content:encoded><![CDATA[<p>I should clarify &#8211; breadth enhances your ability to know THAT you don&#8217;t know, not WHAT you don&#8217;t know.  Bad wording on my part there.</p>
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		<title>By: clburke</title>
		<link>http://www.businesspundit.com/the-wisdom-of-niches-why-experts-still-matter/comment-page-1/#comment-723</link>
		<dc:creator>clburke</dc:creator>
		<pubDate>Sat, 25 Mar 2006 10:57:40 +0000</pubDate>
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		<description>You compare the knowledge of a single expert to that of the crowd.  And wisdom, a trait of an individual, to something epherial - the sort of knowledge that we might value emergent in or from a crowd or group.  Valuing this last is almost new, much as the democracy political structure.  If not wisdom, what is it?  Trend spotting?  Statistical market opinion?

And a second comment: We do not commonly consider experts to have wisdom either.  Experts have and provide educated, in-depth knowledge in niche areas.  Wisdom is something else again.
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		<content:encoded><![CDATA[<p>You compare the knowledge of a single expert to that of the crowd.  And wisdom, a trait of an individual, to something epherial &#8211; the sort of knowledge that we might value emergent in or from a crowd or group.  Valuing this last is almost new, much as the democracy political structure.  If not wisdom, what is it?  Trend spotting?  Statistical market opinion?</p>
<p>And a second comment: We do not commonly consider experts to have wisdom either.  Experts have and provide educated, in-depth knowledge in niche areas.  Wisdom is something else again.</p>
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		<title>By: David Foster</title>
		<link>http://www.businesspundit.com/the-wisdom-of-niches-why-experts-still-matter/comment-page-1/#comment-722</link>
		<dc:creator>David Foster</dc:creator>
		<pubDate>Fri, 24 Mar 2006 23:49:54 +0000</pubDate>
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		<description>You&#039;re right that there seems to be a fad going on here. But I&#039;d observe that to the extent that there&#039;s a general reaction against &quot;experts&quot; in our society, it&#039;s in part because too many disciplines are making spurious claims of expertise. The knowledge one gains in ed school, for example, is *not* expertise in the same sense that chemistry is expertise. The knowledge that one gains in journalism school is not expertise in the same sense that skill at graphics arts is expertise.
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		<content:encoded><![CDATA[<p>You&#8217;re right that there seems to be a fad going on here. But I&#8217;d observe that to the extent that there&#8217;s a general reaction against &#8220;experts&#8221; in our society, it&#8217;s in part because too many disciplines are making spurious claims of expertise. The knowledge one gains in ed school, for example, is *not* expertise in the same sense that chemistry is expertise. The knowledge that one gains in journalism school is not expertise in the same sense that skill at graphics arts is expertise.</p>
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		<title>By: laurence haughton</title>
		<link>http://www.businesspundit.com/the-wisdom-of-niches-why-experts-still-matter/comment-page-1/#comment-721</link>
		<dc:creator>laurence haughton</dc:creator>
		<pubDate>Fri, 24 Mar 2006 19:18:01 +0000</pubDate>
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		<description>Exactly &quot;Wisdom of crowds is becoming the panacea, when we need to remember it is just a tool in the kit.&quot;

And it&#039;s not a new tool either.  Leadership (and that means commercial leadership too) has been defined as &quot;finding a parade and getting in front&quot; for centuries.
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		<content:encoded><![CDATA[<p>Exactly &#8220;Wisdom of crowds is becoming the panacea, when we need to remember it is just a tool in the kit.&#8221;</p>
<p>And it&#8217;s not a new tool either.  Leadership (and that means commercial leadership too) has been defined as &#8220;finding a parade and getting in front&#8221; for centuries.</p>
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		<title>By: Rob</title>
		<link>http://www.businesspundit.com/the-wisdom-of-niches-why-experts-still-matter/comment-page-1/#comment-720</link>
		<dc:creator>Rob</dc:creator>
		<pubDate>Fri, 24 Mar 2006 18:19:05 +0000</pubDate>
		<guid isPermaLink="false">http://www.businesspundit.com.php5-6.websitetestlink.com/?p=2608#comment-720</guid>
		<description>J,
I agree that breadth has value.  It helps spot related opportunities.  It is also important in building what Charlie Munger calls a lattice of knowledge.  The problem is that I see people going broader and shallower all the time.

David,
Great points.
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		<content:encoded><![CDATA[<p>J,<br />
I agree that breadth has value.  It helps spot related opportunities.  It is also important in building what Charlie Munger calls a lattice of knowledge.  The problem is that I see people going broader and shallower all the time.</p>
<p>David,<br />
Great points.</p>
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