It is a profound irony that the more you know about a particular industry, and the more experience you gain in it, the more difficult it can be to move it forward with truly meaningful innovation. But it’s true, thanks to something known as “the curse of knowledge” — one of the most vexing cognitive biases identified by psychologists and behavioral economists. (Another big one is “functional fixedness” — a topic I will save for another day). Cognitive biases are very human and arise from our need to make sense of a situation before deciding on a course of action. As we acquire, retain, and process relevant information, we filter it through the context of our own past experience, likes, and dislikes. Not surprisingly, with every subsequent challenge, our response is increasingly shaped by our…
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