New York venture capitalist Charlie O’Donnell gives a short course in innovation, hidden in which is this small nugget:
Entrepreneurs are, to their own disadvantage, punting on the understanding of human behavior they need to design products for the masses.
The nugget is that real innovations are based on an understanding of people and society (not necessarily “the market”) rather than an understand of technology. Innovations fail because they are usually intended to solve a funding problem, rather than contributing value to the lives of real people.
