Bill Aulet Quotes
“Focus can be difficult, especially for entrepreneurs. People keep options open even when it is not in their best interest, according to former MIT professor Dan Ariely, who discusses the topic in his 2008 book, Predictably Irrational. According to his research, when people are given what appear to be multiple paths to success, they will try to retain all the paths as options, even though selecting one specific path would have guaranteed them the most success.”
“Google’s search product is an excellent example of an innovative business model. Prior to Google, the business model or “value capture framework” of search engines was to fit as many banner advertisements on a page as possible, and to charge as much as possible for them. Google, by contrast, used simple text ads and targeted them based on the keywords used in a particular search. Advertisers found this technique more attractive than banner ads, because they had better data on the effectiveness of individual ads, and could make more effective ads based on the data. This highly innovative business model is what made Google the juggernaut it is today, not the technical proficiency of its search algorithm.”
- Born: The United States.
- Description: Bill Aulet is the managing director in the Martin Trust Center for MIT Entrepreneurship at MIT and also a senior lecturer at the MIT Sloan School of Management. The center is responsible for entrepreneurship across all five schools at MIT starting with education but also extending well outside the class room with student clubs, conferences, competitions, networking events, awards, hackathons, student trips and most recently accelerators. He teaches at least three different classes per year (introductory to advanced entrepreneurship classes) in addition to his responsibilities of running the center. His work has won numerous awards and most recently, in April 2013, Bill was awarded the Adolf F. Monosson Prize for Entrepreneurial Mentoring at MIT.