When Innovation Has Sex

 

Real innovation cultivates new streams of demand. It begets itself by being the home base for new industries. When a new invention comes into mainstream adoption, it births a new vertical of services and/or products. It basically has sex.

When TV’s came to market, the demand for what we now know as commercials, production studios and talent agencies were all born. Hollywood in itself invented a new vertical of industry from the adoption of television. These were transactions that didn’t exist before the TV came to market.

Once the computer was largely adopted, it created a market place for things like operating systems. These operating systems in turn created a marketplace for selling software to enhance user experience. We then were able to do things like connect to the web. Connecting us to the web is what inspired social media. Social media has birthed yet another market place, for advertisers.

You see what I’m getting at?

All of these examples show how one innovation, when well adopted, creates new avenues for new types of transactions. They create services and products that would’ve never existed prior, because they depend on the initial innovation to exist in the first place.

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One of my favorite examples is the hip-hop industry. Birthed out of the concrete and poverty of the drug invested New York City, circa the late 1970’s and 80’s, hip-hop became such a popular form of music, it sparked a steep monetary demand. People were willing to buy CD’s, concert tickets, fashion items that connected to this movement.

What was once what the poor kids did for fun on the corner, became an industry for these same kids to profit from. Two of my favorite rappers, Biggie and Jay-Z, have both openly discussed how their desire to become involved with the commercialization of hip-hop was mostly because they saw it as an opportunity to create wealth for themselves.

Biggie, when being asked about who “inspired” him, responded by saying “Ain’t nothin’ really inspired me, you know what I’m saying? I just had to get out the streets. I had to get up off that.”

Though hip-hop is often criticized for losing it’s authenticity once it became commercialized, what often goes ignored, is how it created opportunity for massive employment to people who might’ve otherwise been at a sever economic disadvantage without it.

This is why innovation and the natural desire for man to create is one of the most beautiful phenomenons of the world. It expresses the innate desire to survive, create wealth and abundance where there was once poverty.

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It’s not just innovation alone that allows this cluster of new services to unfold, it’s also the access to a free market.

Don’t forget that there are already amazing, unique and potentially life-saving innovations already crawling about the earth, but, if there is no access to a free market, they can’t get taken advantage of.

This is why it’s important to keep tariffs and other methods of bureaucracy out of trade. It holds us back from revealing the true potential of invention and creates unfair wealth gaps across the world.

So what innovation is having sex now? Is it something you are working on? Is it something you are preparing for?

Think about what new avenues will be ripe for a new type of transaction.

What previous streams of lush abundance will we see begin to dry up? The good news is that history has proven that with every voluntarily adopted innovation and with every service that gifts us with convenience, follows with new jobs, services and products that can improve our lives.

 
BUSINESSAlex Wolf