30 November 2009
Well, I Was Wrong About That
Instapundit posted this coffee ad without comment, but I remembered it as soon as I hit play. In the 80s, coffee was worried that it might be permanently replaced by soda and other soft drinks; that Americans were losing their coffee addiction. These series of ads were meant to boost coffee drinking among the young (which, at the time, included me).
Although by 1984 I was drinking coffee by the pot, I didn't think that the industry had a chance to remain anything but an also-ran. Coke uber alles.
The research into entrepreneurship indicates that one of the few traits that really seems to separate entrepreneurs from the rest of us is a representation bias. That is, entrepreneurs think that their own experience, tastes and judgment are more representative of the population at large than is actually the case. So, if they like some new product, everyone else will, too. If that's true, than I'm the anti-entrepreneur. I think the things that I like are doomed to failure.
Posted by David at 12:01 PM