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Nice quote on the market serving others.
You can also point out that the cost of information dissemination in the free market is coming down rapidly. TV advertising budgets are plummeting as the internet finds and channels products and service data around the market.
Pretty soon, bloated TV advertising will be a thing of the past. Check The dwindling importance of TV advertising in Politics.
Also, even mildly socialized alternatives to the free market are failures, see news on the French economy.
The Virtues of Marketing and Capitalism
John Keehler's post yesterday about the official portal of North Korea got me thinking. I did take some time to read excerpts of the North Korean constitution, which was interesting, if not enlightening. I couldn't help but feel a little sad for them, as I juxtaposed in my head their constitutio...
Sergey Brin states that Google staff can benefit from the upside of ideas that bear fruit. He says it is cheaper than acquiring external startups.
Other than management attitude of "that was close, try again". I have never heard of a systematic program to reward failure in risk taking. It does rub against the grain.
Innovation, Risk and the Intrapreneur
Scott Gatz picks up on the conversation he started on Intrapreneurship with a thoughtful summarizing post. I had noted that Intrapreneurs take less personal risk than Entrepreneurs. While I thought my point was largely true -- following strong opinions, weakly held as blogging practice -- I've...
Jack Welch says no company ever died by cutting costs to the bone, but you certainly loose market share in big chunks.
Reliving the bubble
Fred Wilson has a great post on remembering the old wounds from the last bubble in 2000. In particular, he highlights the question that many of us have asked at board meetings - are we being too conservative or is it time to step on the gas a little. This is a vibrant area for discusssion - we...
Having been an entrepreneur inside and outside a corporate environment, I have experienced them very differently.
The degree of risk and reward are orders of magnitude out.
Has anybody become a millionaire as an intrapreneur ?
Not counting hedge fund managers ?
From personal experience, the difference in upside has been three orders of magnitude. And the requisite three orders of magnitude in personal risk; I never risked my house on intrapreneurship projects.
Aside from lottery wins, I have never seen investment millions made without pain, anguish and volatility.
You never forget that sick metal taste in your mouth, when you are about to take a plunge.
Maybe intrapreneurs should be allowed to invest personal wealth into the corporate project, without spinning-out.
Increase the risk-reward leverage in intrapreneurship.
Intrapreneur
Scott Gatz is pretty stoked at the ability to be an Intrapreneur at Yahoo. He gets to make a case for a project, acquire resources and above all, innovate. Possibly building a profitable business within a business. Great stuff. But shouldn't any knowledge worker be able to do this at a BigCo?...
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