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Matt Ridley: How Innovation Works, Part 2

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The Dissonance of History

The snip highlights the concept of Gelman and Gnesia, where people tend to believe everything they read in newspapers except when it comes to topics they are familiar with. It points out the dissonance in how we tend to remember a few inventors as the creators when innovation is actually a more collaborative and distributed process. The snip gives examples of Facebook and Airbnb, noting that there were predecessors like Myspace and Friendster, as well as other vacation rental sites. It emphasizes the role of availability bias and how history is often written by the victors.

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