Evaluate Innovation Opportunities Like a Medal of Freedom Recipient

Peter Thiel, in his book Zero to One, encourages individuals to consider creating startups based on Zero to One thinking (i.e., doing new things). Companies that find new and better ways of doing new things will define the future of the world, he espouses. If you have never read Peter Drucker’s book Innovation and Entrepreneurship, this concept may seem new and encouraging.

In Innovation and Entrepreneurship, Drucker referred to this source of innovation as “The Bright Idea”. What’s noteworthy about “The Bright Idea” is that it is the riskiest and least successful source of innovative opportunity!

Knowing those factors, why would Mr. Theil encourage entrepreneurs to pursue this source of innovation? Is he attempting to raise a new line of kamikaze innovators willing to sacrifice themselves to destroy impediments to technological progress? (When they run out of resources, his company swoops in, identifies a ‘not-so-obvious’ improvement, and capitalizes on that entrepreneur’s hard work.) Or, is he genuinely hopeful they will work on hard to solve problems, move the world towards the adjacent possible, and share the recognition and rewards with them?

References

Drucker, P. F. (2006). Innovation and Entrepreneurship. Harper Business

Goldstein, R. W. (2016). ABA Consumer Guide to Obtaining a Patent: A Practical Resource for Helping Entrepreneurs & Innovators Protect Their Ideas. American Bar Association

Thiel, P., Masters, B. (2014). Zero to One: Notes on Startups, or How to Build the Future. Currency