Total efficiency constrains us. We become super invested in maintaining the status quo because that is where we excel. Innovation is a threat. Change is terrifying. Being perfect at something is dangerous if it’s the only thing you can do.
—The Farnham Street Blog, in ‘Getting Ahead By Being Inefficient’
“It’s horrible how mismanaged most Silicon Valley companies are in capital.
Microsoft always wanted to have a lot of cash on hand. Apple had no cash 15 years ago in 2000. Who did the most innovation? The cash does not help. The cash insolates you in a bad way. It’s a bad thing that companies store cash.”
—Reed Hastings (Netflix), to John Doerr (KPCB)
…experience has shown that there is no innovation, however seemingly benign, that the finance sector cannot overcomplicate and overextend. Securitisation was a good idea when first adopted, but ended with the mess of subprime loans that were sliced and diced into a dog’s breakfast.
—The Economist, in Lessons to a columnist’s previous self
To achieve and sustain real change, firms need to create a culture in which all employees are encouraged, through financial and non-financial incentives, to experiment and push ideas to market.
Culture of Innovation cartoon | Marketoonist | Tom Fishburne
Continue reading Innovation culture: the hard bit
This isn’t exactly an uncommon observation – lots of people have pointed out that vintage sci-fi has plenty of rocket ships but all the pilots are men – 1950s society but with robots. Meanwhile, the interstellar liners have paper tickets, that you queue up to buy. With fundamental technology change, we don’t so much get our predictions wrong as make predictions about the wrong things.
Asking the wrong questions, January 24, 2017 at 12:08PM
Incumbents fail to value new innovations properly because they attempt to apply them to their existing customers and product architectures — or value networks.
Apple Inc: A Pre-Mortem, January 25, 2017 at 12:49PM