The Opportunities for Innovation Have Never Been Better

586_ The Opportunities for Innovation Have Never Been Better
Jay Walker, Founder of Priceline.com and chairman of Walker Digital, a private R&D laboratory based in Stamford, CT was a featured speaker at the DaVinci Institute Colorado Inventor Showcase. He also founded Synapse, which became the world’s largest seller of magazine subscriptions and is now a unit of Time Warner. Larry asked jay, "What's coming down the pike for entrepreneurs in these tough times?" Jay replied, "Tough times are ‘good times’ for entrepreneurs and innovators. When times are good, people tend to be coasting along and changing the way they do things is not high on most peoples’ lists because things are doing pretty well. But when things aren’t going so well, people say – Wow, I better figure out how to grow this business or reduce my expenses, or how to do both. So, in times of economic difficulty, those that are truly innovative often create opportunities and inventions and businesses and great fortunes. If you look back in history, many great fortunes were created over the ‘Depression’ simply because people were open for the first time to all kinds of new ways of doing things. I expect that’s what we’re going to see in the next few years, but not a great depression." Jay offered some very good advice for entrepreneurs and voiced his opinion about innovation. "Ultimately people who can innovate literally pick an area where they feel they have some degree of expertise or some degree of competitive advantage. One of the big advantages we have today is the leaders of innovation are no longer dominated by large corporations or by government; they’re really often dominated by individuals." ...listen now.
Related Links: Walker Didgital || Colorado Inventor Showcase || Inventors' Roundtable || Entrepreneur Channel || Bytes: 4885841 > 11/17/08 LISTEN