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Technical Debt

Technical debt refers to the cost of additional rework caused by choosing an easy (quick and dirty) solution now instead of using a better approach that would take longer. In product management, addressing technical debt is crucial for maintaining product quality and ensuring long-term success.

Example

Google, known for its vast array of products, actively manages technical debt to innovate and update its services efficiently. For instance, by refactoring older code in Google Maps, they ensure the application remains fast and reliable for users worldwide.