The person who invented the train, invented the train wreck. In the old days, public transit in New York City was a horse drawn wagon pulling a large cart full of people called an Omnibus. The cobblestone streets made it a bumpy ride. In 1832, a rich banker named John Mason had the idea to place rails under the wheels to smooth out the ride. He had two teams of horses ready to demonstrate his great idea in front of the city’s dignitaries. One was driven by expert teamster, and the other was driven by an average hack, to see if you needed to be an expert to make it work. The first one worked perfectly. The second team of horses crashed into the back of the first team. He invented the train and the train wreck in the same day.
The Wright Brothers invented the airplane. About 5 years later, trying to get a government contract, Orville took an Army lieutenant up with him and invented the plane crash. The plane survived, but the lieutenant didn’t
Whenever a new technology comes along, it’s exciting but it never works perfectly. Eventually, after many setbacks they get it right. In the old days, Airplanes used to be very exciting. You never knew if you were going to look out the window and see a wing fall off. Now they are reliable and uneventful, and that’s a good thing. If you’re on a plane and want some excitement, you can watch Star Wars on the little TV. When someone asks how your flight was, “uneventful” is a good answer, “exciting” isn’t.
When you are going to use a product or service, think about whether the excitement is a feature or a bug. I want excitement when I go to the amusement park and ride the roller coaster, I don’t want it if I’m on the operating table. When thinking about investing in things like flipping houses or crypto, think about whether it’s exciting or not. Cryptocurrencies can double or halve in a matter of months. If your account is hacked, or the exchange is hacked, or you lose access to your digital wallet, all your money is gone. That’s exciting. Do you really want excitement when it comes to your life savings?