Invent Vs Adopt New Tech: What's a Better Way to Get Rich? Ft. John Steele Gordon

John discusses the critical role of invention in building a sustainable and profitable startup ecosystem, contrasting it with the approach of duplicating existing business models, a trend observed in India's venture capital and startup world. John highlights the challenge of sustaining high profit margins without core inventions or protected technologies, drawing comparisons with U.S. tech companies like Google, Apple, and Qualcomm, which have built and fiercely protected their core IP, resulting in substantial cash balances. The example of Amazon is used to illustrate a successful business model that, while not a tech invention, has created immense value through service efficiency and an installed base, showcasing the extraordinary impact of innovative business practices over mere technological invention. 00:00 Exploring the Impact of Innovation on Economic Growth 00:25 The Startup Ecosystem: Copycats vs. Innovators 01:18 The Challenge of Building Profitable Businesses in a Copycat Culture 01:50 The Power of Core Invention and Intellectual Property 02:23 Adoption, Diffusion, and the Quest for Sustainable Profit Margins 02:54 Amazon's Business Model: A Case Study in Innovation 03:18 The Evolution of Amazon: From Books to Everything 03:44 Technological Invention vs. Service Efficiency: Google and Amazon Compared #Innovation, #TechTalk, #BusinessInsights, #Profitability, #CoreIP, #TechIndustry, #EconomicGrowth, #StartupEcosystem, #Invention, #DigitalTransformation