Entrepreneurship and fitness landscape.

A fitness landscape model is a metaphor used to think about the processes of evolution acting on a biological entity.

This entity can be viewed as moving through a search space with two kinds of decisions:

Explore maximum number of landscapes or maximum number of variations.
Exploit the most out of a particular landscape.

This principle is applicable to entrepreneurial search for a repeatable, scalable and sustainable business models(Explore). Once a working model is created then the entrepreneurs job is to make it work. (Exploit)

The following video give a fair idea about the metaphor of fitness landscapes.

Rereading blog pmarca by @pmarca. “entrepreneurial judgment is the ability to tell the difference between a situation that's not working but persistence and iteration will ultimately prove it out…
— Michael Seibel (@mwseibel) January 15, 2020

… versus a situation that's not working and additional effort is a destructive waste of time and radical change is necessary.” This is the central challenge for almost every early stage YC founder.
— Michael Seibel (@mwseibel) January 15, 2020

This is a critical issue for entrepreneurs. In the language of bounded rationality, when to satisfice with some local search and when to reignite distant search, which can set the learning curve back to zero. https://t.co/OFnyO1s4eP
— Susan Lee Cohen (@susleec) January 15, 2020

Interesting – for me it fits the @sstern_mit & @joshgans model of profound uncertainty in entrepreneurship: there’s no way to know but choosing one & marching forward.
— charlie williams (@pontific8) January 16, 2020

The challenge is knowing when to keep marching in the same direction (perhaps over mountains) and when to change directions … one of the hardest decisions for entrepreneurs.
— Susan Lee Cohen (@susleec) January 16, 2020

This is a very good explanation video using biological model of fitness landscape.https://t.co/wtLywjSh31
— Kiran Johny (@johnywrites) March 9, 2020

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