TED: How to outthink your competition -- with a lesson from sports | Rasmus Ankersen

The video explores the rise and fall of Nokia, using the Nokia 3310 as a symbol of both success and failure. It then shifts to Newcastle United's unexpected performance drop, highlighting outcome bias. Matthew Benham's data-driven approach to football management is introduced, emphasizing the randomness in football and the misleading nature of league tables. The video concludes by discussing how successful organizations can be blinded by outcome bias, suggesting they adopt a gambler's mindset to differentiate between luck and skill.

What new insight or understanding did you gain from this video?