Seth Moore, Senior VP of Analytics at Overstock.com shared his insights on policies that promote innovation in tech as part of the Center for Growth and Opportunity’s ongoing Excellence in Innovation Speaker Series.
Founded in 1999, which was a difficult time for many online businesses, Overstock.com survives as one of the largest online retailers through constant innovation and development of their products and services. With revenues of $1.8 billion in 2016 and a new corporate campus in the Salt Lake Seth Moore, Senior VP of Analytics at Overstock.com shared his insights on policies that promote innovation in tech as part of the Center for Growth and Opportunity’s ongoing Excellence in Innovation Speaker Series Valley, Overstock is one of the most successful Utah-based companies.
Moore spoke to more than 80 students about innovation in technology and public policy.
“It was great to hear his insight into the real-world problems that face tech innovators,” said Brian Isom, a graduate student studying economics. “I appreciate that he took the time to answer questions that students had after his presentation.”
Moore’s presentation began with a lesson on leadership from acclaimed economist, Thomas Sowell, who has written extensively on the social theories of decision making and knowledge sharing. Moore shared a key theory from Sowell’s book, Knowledge and Decisions, that states the best and most innovative decisions are those made closest to the knowledge frontier — and in Moore’s experience, the knowledge frontier is usually closely associated with strong data analytics.
“Data lives at the knowledge frontier,” said Moore. “You have to get the decision making to that knowledge frontier where that data is.”
On the topic of public policy, Moore said the best policies occur when markets are set up so entrepreneurs can be empowered to make decisions that will add value, adding that outside regulatory interference — choosing winners and losers — often slows growth and distorts the marketplace.
“We are appreciative of Seth Moore taking time to share his experiences in business with us,” said Logan Hemmert, CGO Foundations Fundraising Manager. “His advice and knowledge on business and innovation are great lessons for students, or anyone aspiring to promote innovation in their field.”