> The place is full of vibrant startups & new ideas.
While there are certainly exceptions the vast majority of startups are not very innovative. Having some slight twist on sharing photos or sending messages or analytics isn't innovation.
While there are certainly exceptions the vast majority of startups are not very innovative. Having some slight twist on sharing photos or sending messages or analytics isn't innovation.
Whether its scale, raw idea, business model, speed, quality, or whatever; there has to be something new to get any significant traction. Are all types of innovation equal? Of course not, but all types provide some sort of value. Throw open source into the mix and you start to see the network effect in play where even "useless idea" startups provide value (although the creators may not get much return on it) in the form of assisting more useful ideas come to fruition.
So it's not an uncommon meaning. Delusional, but not uncommon.
"Innovation is a vehicle for the creation of wealth" isn't defining innovation as creation of wealth, it's saying [innovation as defined] is a vehicle...
I don't see how that can be interpreted that way in context.
It's not an interpretation...chromatic suggested Redefine "innovation" as "generate money for VCs" and you apparently agree with that as a possible (though delusional) definition by the user you quoted - I disagree with that quote as attempting to define innovation.
Let's replace the word innovation with chromatic's definition in what you quoted:
"[generating money for VCs] is a vehicle for the creation of wealth. [generating money for VCs] is in and of itself fairly worthless. The only reason the concept of [generating money for VCs] is so popular is because of the value (and the valuations) we put on companies who are seen to be [generating money for VCs]"
I do agree with you defining innovation as generating money for VCs is delusional, I just disagree with what you quoted as an attempt to define innovation.
The the people in Africa or Asia or Europe who can now bypass SMS charges and bypass the monopolies behind them, a messaging app can be innovative.
I didn't say most startups are not innovative at all - I said most startups are "not very innovative"
Innovation is the act of introducing something new...sending SMS messages at a lower cost is not very innovative.