We’re not saying that watching the teams advance through the NCAA college basketball tournament is not important. After all, March Madness has become a national obsession.
Almost 50 million Americans are participating in some kind of office pool and filling out their own brackets, and millions more will be watching as the field narrows and one team wins the NCAA championship.
Here’s what you probably don’t know: The theories behind the tournament have great parallels in business. Even the brackets have their place. A small startup in Oakland, Calif., called Back to the Roots was game to try this out.
Here’s a simplified version of how brackets could have worked when they were deciding how to fund their newest product, the AquaFarm: