From Data to Decisions: Dr. Evan Shellshear on the Game Theory of Success! | Ep 179|DevReady Podcast

In this episode of the DevReady Podcast host Andrew Romeo is joined by Dr. Evan Shellshear, CEO of Ubidy, to explore his dynamic journey through technology, startups, and innovation. Dr. Shellshear's early passion for mathematics led him to pursue a Ph.D. in Game Theory, and although he found the theoretical aspects compelling, he shifted his focus towards programming for its practical applications. This episode delves into Dr. Shellshear's experiences in both the academic world and the tech industry, providing listeners with a deeper understanding of how he transitioned from theoretical studies to real-world problem-solving.

Dr. Shellshear's venture into game theory began with his fascination for the Shapley value proof, which he describes as a mathematical masterpiece. However, recognising the limited applicability of non-cooperative game theory in practical scenarios, he pivoted to programming and eventually began teaching a business strategy course at the University of Queensland. In his classes, he applies game theory to everyday business situations, helping students develop strategic thinking without diving too deep into complex mathematical formulas. His ability to merge theory with real-world applications has made his teaching approach both accessible and impactful.

His startup journey began in Sweden, where Dr. Shellshear worked on high-tech solutions, including an augmented reality printable keyboard. While the product did not achieve commercial success, it sparked his passion for building innovative technologies. Upon returning to Australia, Dr. Shellshear continued exploring the startup scene, ultimately helping a friend's startup grow significantly. This experience reinforced the importance of aligning technological innovations with market demand, a lesson that has shaped his approach to business ever since.

Dr. Shellshear also discusses the importance of innovation in minimising the cost of failure. His book, written around 2015, focuses on tools and strategies that allow businesses to test ideas quickly and inexpensively. By shortening the innovation cycle, companies can experiment more freely without incurring heavy financial losses. Dr. Shellshear highlights how these principles remain relevant today, particularly with the rise of rapid prototyping and other modern methods that support faster iterations and smarter decision-making.

The conversation rounds off with Dr. Shellshear's reflections on AI and data science, specifically addressing the common misconceptions that surround these fields. Alongside Douglas Gray, he co-authored a book to demystify the inflated expectations around AI. Dr. Shellshear emphasises that AI is not a quick fix but a rigorous science that requires deep expertise and a clear problem to solve. Without a well-defined strategy and an understanding of the field's complexity, many AI projects are doomed to fail. He concludes the episode by sharing his enthusiasm for his company's global focus and how his international travels have shattered cultural prejudices, allowing him to see the world through a more optimistic lens.