Weekly update on development process (Dec 06, 2021)
This week has been the most important in the lifetime of our company. We have worked on a decision-making system that we will use in all operations, including marketing, development and hiring. We’ve searched through a lot of literature & found a set of powerful algorithms that allow us to make decisions under uncertainty. If you’re wondering why this is necessary, let me explain with an example.
Suppose you are running towards the goal. You can run faster, but if you’re running in the wrong direction, you would miss the goal entirely. To ensure that you are running in the right direction, you need to make a decision about the direction before you start running. Otherwise any motion could be in vain.
Deciding in advance is great, but sometimes you don’t have a clear map to your goal. You just have a vague direction like “go north”. In this case, it’s better to start going north, then clarify the direction by looking at the signs. In other words, you need an iterative decision-making process.
Running a business is much more complex than running a distance. Not only you don’t have a clear map, but on each crossroad you have many more paths (on each decision point there are many decisions that are hard to quantify). By statistics, 75% of venture-funded startups fail — we want to be in the 25% that do survive. Instead of reinventing the wheel, we looked for existing algorithms that could work well for real-world problems. We’ve found a set of algorithms that allow us to achieve iterative progress in a complex decision space. Now we need to adapt these algorithms to be executable by humans (ourselves).
This week, we’ll be publishing articles about our findings. We hope this approach will attract the right kind of employees: those people who really care about quality & who want to make decisions quickly using a precise system — without wasting time on Zoom meetings.
Next week’s focus
- 🔊 Publish articles on our decision-making system to attract employees.
- 👬 Evaluate candidates.
Please note that the “hiring pipeline” will remain in focus for multiple weeks. Hiring takes time, and we need to hire multiple people.
If you have questions about our progress, please send them to the special group. This week we will host an “asynchronous” AMA — we will answer the questions and post a recording on Wednesday. We feel that such a format is better for internal community Q&A, because it allows the participants from all timezones to send the questions in advance & listen to recordings separately.
About Shield Finance
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