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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.
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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.
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Jack Welch says no company ever died by cutting costs to the bone, but you certainly loose market share in big chunks.
Toggle Commented Jul 25, 2006 on Reliving the bubble at BeyondVC
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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.
Toggle Commented Jul 24, 2006 on Intrapreneur at Ross Mayfield's Weblog
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