Everybody knows everything

William Goldman famously pointed out that before Hollywood releases a picture, nobody knows anything about how it's going to do. It's such a black art that there are no real clues, yet every self-important exec acts as though he's an expert. It's easy to pretend expertise when there's no data to contradict you.

The internet and the connected economy turn much of that on its head. Now, in many fields, you have to assume that everyone knows (or can easily know) everything.

Relying on the ignorance of a motivated audience isn't a long-term strategy.

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