All models are wrong

friday2Friday’s Finds:

“Remember that all models are wrong; the practical question is how wrong do they have to be to not be useful.”George Box [1919-2013] passed away today – @fhuszar

“The true test of a first-rate mind is the ability to hold two contradictory ideas at the same time.” – F. Scott Fitzgerald – via @goonth

“Where is the wisdom we have lost in knowledge? Where is the knowledge we have lost in information?” ~ T.S. Eliot – via @ethnobot

“Managers complain that employees do not think outside the box, but it is the management system…that keeps them firmly inside.” ~M.Addleson – via @janhoglund

Innovation Teams Don’t Work – via @petervan

The companies that are the most successful at maintaining cultures of innovation understand that sometimes – nay, many times – innovations fail. Those companies accept the risk of that failure and have a culture that allows for failures and encourages risk taking.

Public good or playing markets? The real reason for MOOCs – via @ShaunCoffey

In fact, though the MOOCs clearly have a potential to grow immensely, these figures are strikingly similar to what was achieved during the last wave of e-learning euphoria in the early 2000s.

Been here before

During this earlier wave, all of the US investment banks in the late 1990s and early 2000s extended the hype cycle from the adventures of companies directly into e-learning start-ups.

Merrill Lynch, Goldman Sachs, Bank of America Securities, Hambrecht and Co, Sun Trust, and many others relentlessly spruiked the e-learning industry as destined for fabulous growth trajectories and mouth-watering revenue streams.

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