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The Myths of Innovation - Asian Remix

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Are startup founders geniuses with a perfect plan? Do they profit from their work? This talk at IGNITE Paris will try and debunk some long-standing myths around innovation and entrepreneurship.

Are startup founders geniuses with a perfect plan? Do they profit from their work? This talk at IGNITE Paris will try and debunk some long-standing myths around innovation and entrepreneurship.

Published in: Business, Education

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  • 1. The Myths of Innovation Benjamin Joffe | Plus Eight Star | IGNITE, Paris | 2009.09
  • 2. The Myths 1. Entrepreneurs have original ideas 2. It’s all about trying enough 3. The vision is clear from day 1 4. Entrepreneurs make millions 5. Innovation is always good
  • 3. When was it invented?
  • 4. Europe Gutemberg | ~1450 Korea Metal | ~1230 China Wooden | ~1040
  • 5. Book by Scott Berkun (Same title) Published: 2007 Even at Ignite!
  • 6. Mobile SNS in Japan • In 2003! • Location-based • Avatars Other user’s avatar / distance / nickname • Virtual items
  • 7. I heard that before!
  • 8. Definitions Entrepreneur Inventor (Business) Idea (Prototype) (e.g. Chocolate + Hemp)
  • 9. Winner Bias They talk but don’t race We don’t keep track of how many start
  • 10. DNA Bias “You don’t change horses mid-race” He changed his ride! (This one has no rider) Nobody knows the track’s shape
  • 11. Examples from Asia #1 SNS in Korea #2 SNS in China #1 SNS in Japan US$100M in 2008 Raised US$500M US$120M in 2008
  • 12. Changing riders #1 SNS in Korea #2 SNS in China #1 SNS in Japan Yong Hyoung Wang Xing Batara Eto Founder Founder CTO Cyworld Xiaonei Mixi Gave most Sold for Started Mixi shares to US$2mln as an intern! keep going
  • 13. Changing diet #1 Mobile SNS in Japan US$250M in 2008 IPO: US$1.2bln Initial business model? Ads CPA Virtual goods
  • 14. Changing media + biz model! #2 Mobile SNS in Japan US$60M in 2008 IPO: US$1.4bln
  • 15. Sticking to it Tencent #1 SNS in China US$1 bln in 2008 90% From Virtual Goods (40% Net Margin) Market cap US$30 bln (more than eBay) IM was not making money and our competitors moved to other ventures. I did not have other Pony Ma ideas so I stuck to it. Founder & CEO Tencent (QQ)
  • 16. Too innovative?
  • 17. “The owls are not what they seem”
  • 18. “The owls are not what they seem” IGNITE Boise Talk Brian Bothwell July 16, 2009
  • 19. It’s Iron Man! Timing Infrastructure Finance + Adaptability
  • 20. Merci ! Learn more about “Innovation Arbitrage” www.plus8star.com benjamin@plus8star.com +81 | Japan benjamin0123 +82 | Korea +86 | China http://twitter.com/plus8star Telecom & Internet www.linkedin.com/in/benjaminjoffe + Added Value * High quality www.slideshare.net/plus8star