What better test of the claim “we are producing useful/actionable information about the future, and/or developing workable processes for others to do the same” do we have than some of the thousands of organisations whose survival depends on this kind of information being willing to pay for it?
IMO if a forecasting org does manage to make money selling predictions to companies, that’s a good positive update, but if they fail, that’s only a weak negative update—my prior is that the vast majority of companies don’t care about getting good predictions even if those predictions would be valuable. (Execs might be exposed as making bad predictions; good predictions should increase the stock price, but individual execs only capture a small % of the upside to the stock price vs. 100% of the downside of looking stupid.)
I think if you extend this belief outwards it starts to look unwieldy and “proves too much”. Even if you think that executives don’t care about having access to good predictions the way that business owners do, then why not ask why business owners aren’t paying?
What better test of the claim “we are producing useful/actionable information about the future, and/or developing workable processes for others to do the same” do we have than some of the thousands of organisations whose survival depends on this kind of information being willing to pay for it?
IMO if a forecasting org does manage to make money selling predictions to companies, that’s a good positive update, but if they fail, that’s only a weak negative update—my prior is that the vast majority of companies don’t care about getting good predictions even if those predictions would be valuable. (Execs might be exposed as making bad predictions; good predictions should increase the stock price, but individual execs only capture a small % of the upside to the stock price vs. 100% of the downside of looking stupid.)
I think if you extend this belief outwards it starts to look unwieldy and “proves too much”. Even if you think that executives don’t care about having access to good predictions the way that business owners do, then why not ask why business owners aren’t paying?