Attention first, old people, regulatory vetos: Why America is running out of ideas
This is an excellent essay by Derek Thompson: “I want more new companies and entrepreneurs, which means I want more immigrants. I want more megaprojects in infrastructure and more moon-shot bets in energy and transportation. I want new ways of funding scientific research. I want non-grifters to find ways to innovate in higher education to bend the cost curve of college inflation. I want more prizes for audacious breakthroughs in cancer and Alzheimer’s and longevity research. As strange as this might sound, I want the federal government to get into the experimentation game too and found new agencies that identify and solve the problems that will be created by this riot of newness, as the CDC and DARPA once did. And, finally, I’d like Hollywood to rediscover a passion for cinematic blockbusters that don’t have numbers in the title.”
Nice article. Thanks for the lead and link.
I would add to the list of impediments to innovation/creativity size. As companies and industries become bigger and consolidate into fewer and fewer players, thinking changes to maintaining market share rather than finding new markets and discovering the next big thing. When you’re on top, you can feel threatened by anything that might change your status. Slow and steady is the mantra.
The movie that most spoke to me about my time in corporate America was Money Ball. The myopic mindset that, “‘We’ll always done it this way,” coupled with “Everybody does it this way,” is ubiquitous in most organizations, and “free thinkers” are usually not well received. That was the main message of the movie.
Age has something to do with it, after all if you’ve been successful in the past, why not keep doing what you’ve always done. But, some of the most creative/innovative people I’ve known were oldsters, who’d seen it all.
Small is beautiful because the institutional forces maintaining the status quo and following the practices of the past are less present. Breaking thru old thinking is easier when the risk/reward ratio favors new ideas over more of the same.