Iteration” is about doing the same things better and more efficiently.

Big companies are specialists in this. They always do the same thing, but ever more efficiently. This is precisely why they are hungry for innovative or creative thinking.

People who specialize in efficiency are not usually the most creative. But the problem is that they are the ones in control of the situation.

This is probably one of the reasons for the diminishing returns we have been seeing in all economies for decades.

True innovation is about doing things and opening markets that create value in new ways. It improves people’s behavior and lives in tangible ways.