Made me think about something I heard from Rory Sutherland once in a podcast, then reported by Sahil Bloom in his newsletter.

The example of an hotel firing the doorman to install an automatic door.

“Two years later, the hotel's a catastrophe...because the doorman was doing multiple things, many of which were human and kind of tacit. Security would be one...Hailing taxis, dealing with luggage, recognizing regular guests, providing status to the hotel—there are loads and loads of value creation components to that doorman which aren’t captured in the open-the-door definition.”

Sutherland coined the term Doorman Fallacy to describe this phenomenon.

In the words of Bloom: “It arises when you ground your understanding of value in only the most visible function or skills, while failing to appreciate the full scope of tangible and intangible value that exists just under the surface.”