3 Sobering Business Lessons from the OceanGate Floor
The entire story is beyond logic’s reach. In fact, the more you learn the less you understand. Four experienced, well-heeled professionals and one teenager boarded an OceanGate submersible to view the Titanic and were never seen again.
Let's discuss what entrepreneurs can learn from the decisions made on this journey. This writing is in no way intended to disrespect those grieving the loss of their loved ones. May God be strong with each family, today and forever.
Problem: No door
The OceanGate submersible had no way out. No hatch. No way for those inside to make an emergency exit. This means even if they were in trouble, and somehow made it to the surface they could have still died unless someone knew where they were and was waiting to unbolt the deadbolts.
Lesson learned: If there is no exit do not enter. As entrepreneurs, we must never enter into an agreement or make an investment in anything unless there is a clear, accessible way to get out.
Problem: Critical missions need critical technology
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As its source of navigation, the OceanGate submersible used …wait for it…a game controller; yes, just like the one your 13-year-old is using to play PS3 as you read this. I’m not going to comment much more on this as it places too much pressure on the intellectual circulatory system of the mind.
Lesson Learned: Avoid gimmicks. Innovation must never be confused with dependability. Old technology that works, beats new and unproven technology any day of the week. Entrepreneurs must be cautious never to present something so innovative that “experienced investors” get the sense you have no appreciation for the safety of old.
Problem: Greed kills
The reported price per ticket was $250,000. Ok. So, this was a $1 million gross trip if we assume the captain didn’t pay. The only reason proper testing was not done, or inadequate materials were used is simply speed-to-market.
Lesson Learned: Safety is profit. Having systems in place to assure the safety of your idea is better than quickly getting your idea to market. Entrepreneurs must balance moving fast and moving safely. Here is a clarifying analogy. Money missed is better than money lost any day. Being slow to act can cost us in business but acting too fast can be irredeemable. Slow down, my friend. Slow down.
My God rest their souls.
barber at legends barber shop
1 年Awesome read loaded with facts ????
Analyst at Mondelēz International
1 年The game controller isn't a good look, but it doesn't bother me anywhere near as much as the issues with using carbon fiber and lack of testing to fully understand the ramifications of its use. The engineering of a pressure hull needs to be insanely rigorous both during the development and in an ongoing basis with materials not well-understood for that particular use. And the idea that you would allow yourself to be bolted into a container with no ability to open the doors from the inside -- that's prison.
CEO, Hampton Bates Public Relations
1 年Thank for you thoughtful response to this horrific tragedy. We all wish we could have done something—anything to make the outcome different for these people. Prayers for the loss of five brave people and their dear families. May they rest in peace.????????
Senior Jury Consultant - Patented Mock Trial Methodology - Witness Prep for Products, Patents and Complex Business Cases
1 年I doubt a door would have helped. Opening it would have been nearly impossible and would have flooded the small ship immediately. If they did get out, they would have been crushed by the pressure which at the Titanic is nearly 6,000 pounds per square inch.