Foraging in the 21st Century
Foraging for provisions originally focused on material needs.Today that also includes things we consider to be immaterial necessities. Apart from that though, does foraging really change in the 21st-century?
A simple expression of foraging is the expenditure of time and energy in return for provisions. Ideally, we want to maximise the return for the least investment. In the physical world there is a further consideration, our territory. A crucial question, in that case, is when does the benefit cost of moving to a new territory outweigh competing in a known one? This migration dilemma is one seen in our individual lives and in business.
The territory migration question is interesting because it holds one of our earliest information dilemmas. Rather than relying on chance, how would we be better informed about a potential in a new territory?
Our territory migration dilemma explodes with today’s technology and immaterial value. We are better informed about the existence, the emergence or even the creation of new territory. We have a much more accessible ability to generate immaterial provisions and even territories. For example, Blockchain is a technology that looks like being a key enabler of several new territories in finance (transactions, foreign exchange, and contracts.)
Why is this interesting?
Looking at the business world through the lens of foraging gives us another way of thinking about our ventures. At what point does the allure of a new territory overcome the opportunity within our established one? The primitive foraging concepts of the past are similar to our thoughts on seeking new territories through being an early adopter or building a start-up.
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Also published on Medium.