Reading time: 2 - 4 minutes
Video Time: 21 minutes 50 seconds
Many people view innovation as a cumulative process, more evolutionary than anything. Tim Wu, a professor at Columbia Law School and known for coining the term “net neutrality”, speaks at The Institute of International and European Affairs and explores a radically different perspective. Rather than viewing innovation and develop as the process where things continually grow and change gradually over time, Wu proposes that innovation occurs on a cyclical system that is dependent upon revolutionary developments.
The vast majority of innovation consists of incremental improvements on a given platform. However, these changes are minor and are merely refinements or additions upon the existing structure. As a platform matures, innovation slows down as the market is saturated and the low hanging fruit has all been claimed. A revolution reveals entirely new avenues of potential and, as a result, spurs innovation and new developments rapidly. This cycle is present everywhere, ranging from product development and personal growth to infrastructure and business.
It is absolutely vital to manage both the evolution within each cycle as well as the revolutions. Ignoring one results in stagnancy. While development isn’t absolutely necessary, it does limit the viable lifespan of anything that is restricted. The cycle of each revolution has its ups and downs as well, something that Wu is careful to note. Just as the Internet is currently growing, it is absolute folly to think that the Internet, as its perceived today, is the final, penultimate standard. It, like television and radio, CDs and cassettes, will undergo an eventual decline.
As you watch this video, consider the influence of cycles in your life, both personal and professional, and how things are transformed as a result. They are not inherently good or bad, but merely different and a prepared individual can anticipate and prepare for the changes they bring.
Thanks for joining LunchLearning.com today! Enjoy your Lunch!