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2min chapter
How Innovation Works
What You Will Learn
Innovation Is a Bottom Up Phenomeno
In the 19 nineties, there was that period of wild excitement when the internet was just coming along. But then if your fie fold 20 years, actually it was warranted. It was an enormous innovation. So short run, we overestimate. The long run, we definitely underestimate. Another aspect of innovation is that it's a bottom up phenomeno. And this goes against a fashionable argument that innovation is creationes. You got like a intelligent design by government programms, throwing money at some opportunities. That's right. Government and doing that top down approach does nothing to improve the inovations.
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