Mature Industries

From “Innovation and Entrepreneurship” by Peter F. Drucker The industries that fueled the long economic expansion after World War II – automobiles, steel, rubber, electrical apparatus, consumer electronics, telephone, but also petroleum – perfectly fit the Kondratieff cycle. Technologically, all of them go back to the fourth quarter of the nineteenth century or, at the

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hunches need time to develop

From “Where Good Ideas Come From: The Natural History of Innovation” by Steven Johnson The snap judgments of intuition – as powerful as they can be – are rarities in the history of world-changing ideas. Most hunches that turn into important innovations unfold over much longer time frames. They start with a vague, hard-to-describe sense

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