BiF-4 Insights – Frans Johansson – Author – “Medici Effect”

Spoke briefly about the The Medici Summit.

People at the Harvard Centennial on Monday/Tuesday changed their speeches based on the financial cris, but not here at BiF:

  • We view risks differently
    • Innovators and Entrepreneurs

People adjust behavior to the perceived risk around them:

  • Example of German taxi drivers and the introduction of anti-lock brakes
  • No reduction in accidents despite this safety feature
  • People drive faster, follow closer in response to this safety feature’s introduction

Apple’s $500 million investment in the Newton versus Palm’s spending $7 million on the Palm Pilot:

  • Why did Palm spend so little?
  • Because that is all they had left to spend

We think we can increase success by having (or spending) more money, but we can’t

  • When we have more money, we spend it on trying to reduce the risk
    • Strategy/Planning
    • Researching if anyone else is doing it
      • If they are, maybe we give up (falsely)
        • What about Google? They weren’t the first to do search, other people were doing similar things.

Example of three Harvard Business School graduates not ending up where they planned:

  • One went from a startup to another startup to another startup (none of which succeeded)
  • One went from a startup to a Strategy Consulting Firm
  • One went from a Strategy Consulting Firm to Google to being retired

We can take more chances:

  • Perseverence
  • War option
  • Passion helps us take chances

For more information on the talk, go here.

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Braden Kelley

Braden Kelley is a Director of Innovation and Human-Centered Problem-Solving at Oracle, a popular innovation speaker and workshop leader, helps companies build innovation cultures and infrastructures, and plan organizational changes that are more human and less overwhelming. He is the author of Charting Change from Palgrave Macmillan and Stoking Your Innovation Bonfire from John Wiley & Sons. Braden has been advising companies since 1996, while living and working in England, Germany, and the United States. Braden earned his MBA from top-rated London Business School. Follow him on Twitter and Linkedin.

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