Ep. 849: Stefan Thomke Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6 • 732 Ratings

🗓️ 13 March 2020

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Stefan Thomke, the William Barclay Harding Professor of Business Administration at Harvard Business School. Thomke's research is focused on the process, economics, and management of experimentation and testing in the context of innovation management. Thomke's highly cited research has been published as research articles, case studies and notes extensively in books and leading journals such as California Management Review, Harvard Business Review, Journal of Product Innovation Management, Management Science, Organization Science, Research Policy, Sloan Management Review, Strategic Management Journal and Scientific American.

The topic is his book Experimentation Works: The Surprising Power of Business Experiments.

In this episode of Trend Following Radio we discuss:

Experimentation Works
Overcoming Cultural Issues
Brainstorming
Think Outside the Box
High Velocity

Jump in!

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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms:
Twitter: @covel
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LinkedIn: @covel
Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Transcript

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0:00.0	This is trend following radio where great thinking comes alive.
0:10.9	Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.
0:21.2	I am your host, Michael Covel, not filtered, raw, honest.
0:27.4	That's my passion.
0:33.4	My guest today goes right where I like to go, My style of thinking, whether it's the markets,
0:40.4	life, you name it. Stefan Tompke from Harvard. His book, Experimentation Works, the surprising power
0:49.6	of business experiments. Whether you agree or disagree or whether you know or don't know, that title tells you a lot.
1:01.6	Experimentation absolutely works, but for many people, it's surprising.
1:09.3	Look, the bottom line is, it's 2020.
1:12.5	Are you flying blind?
1:14.0	Have you tested something that you're working on?
1:16.2	Do you know what people feel about your project, your experiment, your innovation?
1:23.3	Have you got feedback?
1:24.9	Do you know anything?
1:25.7	Are you just guessing?
1:27.0	Or are you just this intuitive grandmaster that knows all?
1:32.6	Stefan has a background in the management of innovation. And look, if you get a chance to tell people about this particular topic and you are doing it at Harvard, that says a little bit about your authority,
1:46.1	or at least worst case scenario, how much research you have put in. And I give Stefan credit,
1:51.9	the research is there. Without any further delay, let's jump right into my guest today,
1:56.7	Stefan Tomke, and talk about why experimentation works.
2:13.1	So listen, here's where I want to jump in.
2:15.1	I want to jump in with the idea of experimentation.
	...

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