James Surowiecki, Wisdom of Crowds
PROFIT : Here’s a couple of examples – historical and everyday that highlight the double-sided nature of innovation.
At the turn of the 20th Century there were more than 500 car manufacturers putting out a wide range of solutions.
These included steam driven cars, electric powered cars and cars running on gasoline combustion engines.
Whilst the auto market totalled a mere 15,000 cars in 1900, the expectation of what was possible if the car could be mass produced at an affordable price sparked significant interest.
The diverse approaches were clearly driven by the size of the potential reward for success.
And, the diversity of approaches was built on the premise that a clear definition of what a car should be like hadn’t been worked out as yet.