Yet another great piece by Malcom Gladwell for the New Yorker (thanks Simon for the pointer!). Gladwell talks of something that could be called the overconfidence bias - when you're so confident about your abilities that you think you can influence outcomes that are just dependent on sheer luck.

As a result, you don't feel any need to adapt yourself (or your business) to new situation - because you have it under control, so what could happen?

As Gladwell explains, it happened to Bear Stearns as well as to the Britains in Gallipolli. It might be happening to (some) newspaper publishers right now who still think that there business model is made for eternity.

But it might also happen to any business that thinks there industry is exempt from constant innovation.