Uber's goal," explained Holden from the stage, "is to demonstrate flying car capability in 2020 and have aerial ridesharing fully operational in Dall… - Peter Diamandis

A large brand will typically spend between 10 and 20 percent of their media buy on creative," DeJulio explains. "So if they have a $500 million media budget, there's somewhere between $50 to $100 million going toward creating content. For that money they'll get seven to ten pieces of content, but not right away. If you're going to spend $1 million on one piece of content, it's going to take a long time — six months, nine months, a year — to fully develop. With this budget and timeline, brands have no margin to take chances creatively." By contrast, the Tongal process: If a brand wants to crowdsource a commercial, the first step is to put up a purse — anywhere from $50,000 to $200,000. Then, Tongal breaks the project into three phases: ideation, production, and distribution, allowing creatives with different specialties (writing, directing, animating, acting, social media promotion, and so on) to focus on what they do best. In the first competition — the ideation phase — a client creates a brief describing its objective. Tongal members read the brief and submit their best ideas in 500 characters (about three tweets). Customers then pick a small number of ideas they like and pay a small portion of the purse to these winners. Next up is production, where directors select one of the winning concepts and submit their take. Another round of winners are selected and these folks are given the time and money to crank out their vision. But this phase is not just limited to these few winning directors. Tongal also allows anyone to submit a wild card video. Finally, sponsors select their favorite video (or videos), the winning directors get paid, and the winning videos get released to the world. Compared to the seven to ten pieces of content the traditional process produces, Tongal competitions generate an average of 422 concepts in the idea phase, followed by an average of 20 to 100 finished video pieces in the video production phase. That is a huge return for the invested dol

You get what you incentivize.

All three of these rules are ways to increase rapid iteration — which is one of the best risk-mitigation strategies ever developed.