#40 - The digital nose of the future
Today's episode from 31st August 2021. First this morning: In the late 90s and early 00s, a flurry of devices promised to become universal odour readers, but none of them found success. However, two decades and a global pandemic later, a number of startups believe they've got what it takes. We explore the science behind smell and the recent breakthrough technology. Then later on, learn how to make better decisions like Steve Jobs and Elon Musk by embracing the Willingness To Pay rule. Koniku’s founder, Osh Agabi, thinks that his purple, silicone-based biotechnology will be the digital answer to replicating the human nose as close as possible. But, as Zach Schonbrun reveals, his startup is not the only one in the race. Find out why an enhanced understanding of smell is an exciting prospect for the advancement of technology. Consumers are fickle and are often only willing to part with something for much more than they paid for it. This is what’s known as the endowment effect. Jeff Haden reveals that by changing how you think about your products, from what you think they’re worth to what you’d be willing to pay for them, you’ll avoid this hike in perceived value like an industry giant. Wake up with Curio is a different kind of morning show that gives you the context behind the news and gets you motivated for the day ahead, every Monday - Friday.
From Wake up with Curio