Hacker News Reader

I think the idea that free-market capitalism drives innovation is not something you can take for granted at all. How many companies making copycat apps that serve no purpose or complete bullshit like Juicero get millions in funding?

View on HN

You literally gave an example for why free-market capitalism supports innovation; e.g. the product was stupid and the market rejected it.

The market rejecting a product has nothing to do with innovation. It's people saying I can't afford this or I don't value this at the price you're selling it at, or even I don't like the politics of someone that works for you. But it says nothing about if a product is innovative or not.

Innovation includes factors like actually being able to manufacture the product at a price people are willing to pay. If something is worth at most $10, coming up with a novel way to do it for less than $10 is innovative; coming up with a way to do it for $1000 is just wasting time.

It's easy to come up with crazy, impractical ideas. The essence of innovation is turning those ideas into sustainable, marketable, and thus profitable products.

Reply on news.ycombinator.com