What Silicon Valley Gets Wrong about Innovation

Despite what Silicon Valley tells us, innovation doesn’t necessarily mean inventing something completely new. For example, Taiwan and China became the technological hubs they are today not because of novel products, but because they improved upon existing technology (“second-generation innovation”). MediaTek, a Taiwanese company, developed highly competitive, cheap, and reliable chipsets that allowed Chinese smartphones to rise up to the level of Apple and Samsung smartphones. Read full article here

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