
Matt Ridley: How Innovation Works, Part 1
Naval
Distinguishing Invention from Innovation
The distinction between invention and innovation lies in the prototype creation of a new device or social artifact as invention, while innovation involves turning the new device into something practical, affordable, and reliable. Innovation focuses on making the device desirable, driving down the price, and increasing its reliability and efficiency.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.