2min chapter

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Matt Ridley: How Innovation Works, Part 1

Naval

CHAPTER

Innovation in the Unregulated Domains

The first version of a new technology looks surprisingly like the last versionof old technology. I didn't see a single genius inventor creating a single thing that suddenly changed the world. Innovation is going on all around us right now, especially in the unregulated domains. There's an old quip in silken valley that the reason we do well is because we operate in the last unregulated domains. We're not as innovative as we used to be. The loan inventor has gone away....

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