Is innovation more difficult to achieve than it once was? Wired contributor Andrew Reid thinks so.
Thirteen years ago, when he started his business, Reid argues that it was easy to come up with an idea and build it into a profitable enterprise.
"Creative thinkers would come up with a blockbuster concept, get some investors on board and boom—take off," he wrote.
Of course, some of that was due to the dot-com bubble, during which time investors were nearly tripping over themselves to fund the Next Big Thing. These days, the Big Things have already funded, as have many little things. As Reid writes, there just isn't as much room for newcomers, and innovation has suffered as a result.
He offers three reasons why this may be the case.
First, he argues that "organic" ideas are harder to find because companies have a greater ability than ever to use technology to reduce their risk. While this may increase the chances of short-term success, ideas become more predictable and push fewer boundaries.
Another problem is that businesses are relying too much on customer data and too little on actual conversations with customers. This further complicates a business's ability to truly innovate, rather than simply play it safe with minor improvements to its products. They adopt a reactive, instead of proactive, approach to innovation.
Finally, Reid argues that many out-of-the-box thinkers are afraid of taking risks in markets where investors are less likely to dole out money than they once were.
Here at Sozo Design, we seek to prove these arguments wrong. We work with companies to create sleek, functional products that consumers have never seen before, but recognize immediately when they first interact with them.