“A local optimum of an optimization problem is a solution that is optimal (either maximal or minimal) within a neighboring set of candidate solutions. This is in contrast to a global optimum, which is the optimal solution among all possible solutions, not just those in a particular neighborhood of values.” —Gabriel Weinberg
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“Related to diminishing returns, the local maxima is the point where incremental improvements creates no customer value at all, forcing you to make a step change in product capabilities.
How it’s useful
This mental model is tightly related to diminishing returns, with the addition of hitting a limit where it literally makes no material difference to keep improving something. Iteration now serves no purpose, and and the only way to progress is to innovate.
This concept was recently popularized by Eugene Wei’s viral post Invisible Asymptotes, which covers an example like this that Amazon foresaw which led them to create Prime.”
— Brandon Chu
Source:
Gabriel Weinberg’s Mental Models I Find Repeatedly Useful – https://medium.com/@yegg/mental-models-i-find-repeatedly-useful-936f1cc405d
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Product Management Mental Models for Everyone – https://blackboxofpm.com/product-management-mental-models-for-everyone-31e7828cb50b
Product Management Mental Models for Everyone
