The problem with academia is that the selective pressure is induced peer to peer through an unweighted citation graph.What he is saying here is that professors get promoted by showing that their friends cite their papers. Companies succeed by people buying their products.OTOH, industry is a weighted graph of capital flux according to the utility of a product. It has a much better algorithm for focusing search over design space.
The latter works well because products have to be commercially useful in order to sell a lot. But academic citations can be inflated even for worthless research.
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