The Myths of Innovation




Benjamin Joffe | Plus Eight Star | IGNITE, Paris | 2009.09
The Myths
1. Entrepreneurs have original ideas

2. It’s all about trying enough

3. The vision is clear from day 1

4. Ent...
When was it invented?
Europe
Gutemberg | ~1450

     Korea
  Metal | ~1230

     China
 Wooden | ~1040
Book by Scott Berkun
                  (Same title)

                  Published: 2007




Even at Ignite!
Mobile SNS in Japan



                                      • In 2003!
                                      • Location-b...
I heard that before!
Definitions




                                         Entrepreneur
                            Inventor       (Business...
Winner Bias


                            They talk but don’t race




We don’t keep track of how many start
DNA Bias
       “You don’t change horses mid-race”




He changed his ride!



                (This one has no rider)



...
Examples from Asia
#1 SNS in Korea        #2 SNS in China   #1 SNS in Japan




US$100M in 2008        Raised US$500M     ...
Changing riders
#1 SNS in Korea      #2 SNS in China       #1 SNS in Japan




       Yong Hyoung             Wang Xing   ...
Changing diet
                            #1 Mobile SNS in Japan


                                      US$250M in 2008
 ...
Changing media + biz model!

        #2 Mobile SNS in Japan




            US$60M in 2008
            IPO: US$1.4bln
Sticking to it
          Tencent
      #1 SNS in China



   US$1 bln in 2008
90% From Virtual Goods
   (40% Net Margin)  ...
Too innovative?
“The owls are not what they seem”
“The owls are not what they seem”




           IGNITE Boise Talk
               Brian Bothwell
                July 16, ...
It’s Iron Man!

     Timing
 Infrastructure
    Finance
       +
  Adaptability
Merci !
Learn more about “Innovation Arbitrage”

www.plus8star.com

benjamin@plus8star.com
                               ...
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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.

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The Myths of Innovation - Asian Remix

  1. 1. The Myths of Innovation Benjamin Joffe | Plus Eight Star | IGNITE, Paris | 2009.09
  2. 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. 3. When was it invented?
  4. 4. Europe Gutemberg | ~1450 Korea Metal | ~1230 China Wooden | ~1040
  5. 5. Book by Scott Berkun (Same title) Published: 2007 Even at Ignite!
  6. 6. Mobile SNS in Japan • In 2003! • Location-based • Avatars Other user’s avatar / distance / nickname • Virtual items
  7. 7. I heard that before!
  8. 8. Definitions Entrepreneur Inventor (Business) Idea (Prototype) (e.g. Chocolate + Hemp)
  9. 9. Winner Bias They talk but don’t race We don’t keep track of how many start
  10. 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. 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. 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. 13. Changing diet #1 Mobile SNS in Japan US$250M in 2008 IPO: US$1.2bln Initial business model? Ads CPA Virtual goods
  14. 14. Changing media + biz model! #2 Mobile SNS in Japan US$60M in 2008 IPO: US$1.4bln
  15. 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. 16. Too innovative?
  17. 17. “The owls are not what they seem”
  18. 18. “The owls are not what they seem” IGNITE Boise Talk Brian Bothwell July 16, 2009
  19. 19. It’s Iron Man! Timing Infrastructure Finance + Adaptability
  20. 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

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