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May 26, 2015

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Possible downsides to innovation:
* creating solutions in search of problems;
* fixing what ain't broke.

It seems to me that "innovations" in the finance industry had something to do with the 2008 meltdown.

Hi Paul,
thanks for your comment! I think a potential downside to innovation is that some people are so busy trying to create new things they don't try to take advantage of what other people have done and "simply" make it better. (Obviously things get complicated in case of patents, but patents only represent a fraction of innovation.) Transformational or breakthrough innovation has its place but incremental innovation is important too in some cases. I suspect people dislike incremental innovation because they feel like followers. It's tempting to want to be the head of the pack even if it's a pack of one.

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