In it for the money?

posted on 13th September 2006 by Laurence

Seth Godin talks about how top innovators create first and turn their inventions or ideas into profit later.

"In fact, the more I think about it, the more it seems that pioneers are almost never in it for the money. The smart ones figure out how to take a remarkable innovation and turn it into a living (or a bigger than big payout) but not the other way around. I think the reason is pretty obvious: when you try to make a profit from your innovation, you stop innovating too soon."

It's nice to think that people create for the good of mankind/sheer enjoyment of it but Seth's view seems to support the kind of thinking that inflated the first web bubble and (some would argue) bubble 2.0.

All inventions / innovations reach a point when they need a hard cash injection and if there's no way of repaying your investors through a solid revenue stream your new widget or web app might never leave the garden shed.