How would you react to the recent article in Mckinsey Quarterly on innovation lessions from 1930s?
“Necessity is the mother of invention”. Contrary to what McKinsey says in the abstract of its report — I have zero interest in reading the rest, because they are wrong on the 1930s, which is not comparable anyway — any comprehensive study of innovation and patent filings over the last 200+ years will reveal that: 1. New inventions/innovations tend to cluster during the worst of times, as old companies scramble and new entrepreneurs take risks. 2. Innovation slows down during good times, as people become complacent and don’t see the need to change. During a recession, capital is not available, but as the economy recovers, inexpensive capital floods into waiting innovations, fueling the next economic growth phase. ========================================== (This message is not intended for the person asking this Question. It’s a reminder for all Q&A participants. I’m adding this on all Answers; feel free to add to yours.) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~*~~~ LET’s BOOST
