Why multiple bets matter in corporate Innovation

The corporate innovation graveyard is full to bursting of stuff that didn’t work.

Here are just the ones from Google

The really weird thing is that many of the roaring successes started as “little side projects”

Google – Android was a side project that they never imagined would be so mega

Facebook – Their self serve ad system generates billions but was built by a handful of people (37 minutes https://youtu.be/vISe0-z3iZU)

AWS – Was a product built to solve an internal problem

The narrative in the world is that these companies were Nostradamus geniuses. But really they were just prolific. They made a lot of bets.

Most Fortune 500 corporates worry too much about ‘getting it right’ vs ‘doing lots of things’…..oh, and they pretend their graveyards don’t exist.

Alex

Ps Nicolas taleb writes a lot about this in his book antifragile…for instant he argues the Petri dish of ‘trying lots of random things’ = more health breakthroughs, penicillin was one great example

If you liked this and want more then this is 😊 Me , 💵What I invest in,⚡A belief in corporate innovation and 😱A movement I helped start by accident . Also check out www.thebakery.com and www.saatchinvest.com

VC Partner@SAATCHiNVEST. Seed investor in Citymapper, Farewill, Ometria + more. Chief of Staff@Redbrain. NED@Picassolabs. Founder Linkybrains.com

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