1. First it will be impractical, and everyone will laugh at you.
2. Innovation will be deceptive before it becomes disruptive.
e.g. Graham was asked when he thought the telephone would become mainstream. He answered, “50 years after people stop laughing.”
e.g. Lab-grown burger in 2011 cost $350k, now cost $11, in 2020 should be closer to $2.
3. Scarcity isn’t always the problem, but the cost of extraction could be the bottleneck.
E.g. Aluminum was once more valuable than gold because of the high cost of extracting aluminum.
E.g. There is plenty of solar power from the sun, problem is extraction.
4. All this innovation is moving us towards zero marginal cost, zero friction.
5. Translating purpose into clarity of operations is what correlates with financial profits.
Not purpose alone, or camaraderie, will drive financial profits.
6. Divergent thinking is what makes creative geniuses, and it decreases with age/education/corporate if not mindful.
E.g. The fifth and sixth degree of competition for the coffee business could be the Muse meditation app and autonomous driving (would you still need that morning cup of coffee if you can sleep in your car?). Corporate Board rooms are not discussing this. What entrepreneurs have is this creative mindset: entrepreneurs think about this sixth degree disruption. “Brainstorm theater” in the Board room merely cites ideas but nothing gets done.
Divergent thinking decreases by age and corporate indoctrination.