In this episode of the podcast, Brooke speaks with John List, Professor in Economics at the University of Chicago and Chief Economist at Lyft. John talks us through some of the key takeaways from his recent book ‘The Voltage Effect’, which offers guidance around how to identify the ideas that will be successful when scaled, and how to avoid those that won't. Drawing from his career as an experimental economist and sharing stories from his own personal and professional life, John sheds light on the economic and psychological forces that influence the scalability of ideas, products and policies. Some of the things discussed include:
- The challenge of scaling great ideas, from the Petri-dish to the real world.
- What is the Voltage Effect and how does it impact scalability?
- 5 vital signs for scalable ideas.
- Diseconomies of scale and why bigger isn’t always better.
- Knowing when to pursue an idea and knowing when to quit.