[Music] [Applause]
[Applause]
[Applause] for the past two summers I interned at
for the past two summers I interned at
for the past two summers I interned at an investment firm based in Silicon
an investment firm based in Silicon
an investment firm based in Silicon Valley and during my time there I
Valley and during my time there I
Valley and during my time there I realized that everyone around me was
realized that everyone around me was
realized that everyone around me was obsessed with newness I however wasn’t
obsessed with newness I however wasn’t
obsessed with newness I however wasn’t so convinced I spent the better part of
so convinced I spent the better part of
so convinced I spent the better part of each eight-hour workday doing market
each eight-hour workday doing market
each eight-hour workday doing market research on every potential investment
research on every potential investment
research on every potential investment one such company was a startup that
one such company was a startup that
one such company was a startup that streamlined the invoicing process an
streamlined the invoicing process an
streamlined the invoicing process an allowed freelancers to access and
allowed freelancers to access and
allowed freelancers to access and organize pay on an online platform now
organize pay on an online platform now
organize pay on an online platform now as someone who struggles with even just
as someone who struggles with even just
as someone who struggles with even just operating my Mac this idea sounded super
operating my Mac this idea sounded super
operating my Mac this idea sounded super cool to me innovative even but research
cool to me innovative even but research
cool to me innovative even but research soon made me realize just how crowded
soon made me realize just how crowded
soon made me realize just how crowded the market already was one competitor
the market already was one competitor
the market already was one competitor called itself a cashflow optimization
called itself a cashflow optimization
called itself a cashflow optimization tool while another can’t claim to be a
tool while another can’t claim to be a
tool while another can’t claim to be a free advanced online payment platform
free advanced online payment platform
free advanced online payment platform whatever the title within half an hour I
whatever the title within half an hour I
whatever the title within half an hour I had already compiled a list of twenty
had already compiled a list of twenty
had already compiled a list of twenty main competitors and I’m sure there
main competitors and I’m sure there
main competitors and I’m sure there would have been many more if I just kept
would have been many more if I just kept
would have been many more if I just kept going after a certain point I couldn’t
going after a certain point I couldn’t
going after a certain point I couldn’t tell any of them apart and all of these
tell any of them apart and all of these
tell any of them apart and all of these startups were founded just in the space
startups were founded just in the space
startups were founded just in the space of the past four years and so throughout
of the past four years and so throughout
of the past four years and so throughout the entire research process two things
the entire research process two things
the entire research process two things repeatedly surprised me the most
repeatedly surprised me the most
repeatedly surprised me the most first the sheer number of competitors no
first the sheer number of competitors no
first the sheer number of competitors no matter how niche the market was I mean
matter how niche the market was I mean
matter how niche the market was I mean who knew there were so many companies
who knew there were so many companies
who knew there were so many companies that made self rotating beds and second
that made self rotating beds and second
that made self rotating beds and second the frequent lack of distinction the
the frequent lack of distinction the
the frequent lack of distinction the entrepreneurs that I was interacting
entrepreneurs that I was interacting
entrepreneurs that I was interacting with were all extremely bright creative
with were all extremely bright creative
with were all extremely bright creative and passion people yet many of their
and passion people yet many of their
and passion people yet many of their ideas while claiming to be innovative
ideas while claiming to be innovative
ideas while claiming to be innovative and the next big thing didn’t have much
and the next big thing didn’t have much
and the next big thing didn’t have much value beyond what was already out there
value beyond what was already out there
value beyond what was already out there the thing is today to be the next Elon
the thing is today to be the next Elon
the thing is today to be the next Elon Musk or Steve Jobs is a widely shared
Musk or Steve Jobs is a widely shared
Musk or Steve Jobs is a widely shared dream and I’ll admit I indulge in it too
dream and I’ll admit I indulge in it too
dream and I’ll admit I indulge in it too after all hunting for the next unicorn
after all hunting for the next unicorn
after all hunting for the next unicorn has become incredibly sexy but often
has become incredibly sexy but often
has become incredibly sexy but often what people are bringing to the table
what people are bringing to the table
what people are bringing to the table just isn’t that unique and besides if
just isn’t that unique and besides if
just isn’t that unique and besides if you
you
you horns are by definition rarer than how
horns are by definition rarer than how
horns are by definition rarer than how can everyone hope to create and find the
can everyone hope to create and find the
can everyone hope to create and find the next one today innovation seems to be
next one today innovation seems to be
next one today innovation seems to be defined as that shiny new thing that
defined as that shiny new thing that
defined as that shiny new thing that everyone wants to reach for but it needs
everyone wants to reach for but it needs
everyone wants to reach for but it needs to be more than that instead of praising
to be more than that instead of praising
to be more than that instead of praising the idea of innovation and change in and
the idea of innovation and change in and
the idea of innovation and change in and of itself we should be looking at
of itself we should be looking at
of itself we should be looking at successful startups that are both truly
successful startups that are both truly
successful startups that are both truly disruptive and generating true positive
disruptive and generating true positive
disruptive and generating true positive impact one such example is a company
impact one such example is a company
impact one such example is a company that is working in underserved
that is working in underserved
that is working in underserved communities to revolutionize the sphere
communities to revolutionize the sphere
communities to revolutionize the sphere of child education in the home its goal
of child education in the home its goal
of child education in the home its goal is to minimize the education gap that
is to minimize the education gap that
is to minimize the education gap that occurs before many children even enter
occurs before many children even enter
occurs before many children even enter kindergarten and its novelty lies in its
kindergarten and its novelty lies in its
kindergarten and its novelty lies in its simplicity through partnering with
simplicity through partnering with
simplicity through partnering with telecom companies parents who sign up
telecom companies parents who sign up
telecom companies parents who sign up for the service receive step-by-step
for the service receive step-by-step
for the service receive step-by-step instructions for a 15 minute activity
instructions for a 15 minute activity
instructions for a 15 minute activity each day intended to boost their child’s
each day intended to boost their child’s
each day intended to boost their child’s creative learning and emotional
creative learning and emotional
creative learning and emotional capabilities and this partnership makes
capabilities and this partnership makes
capabilities and this partnership makes it such a game-changer because it’s
it such a game-changer because it’s
it such a game-changer because it’s addressing the fact that in many parts
addressing the fact that in many parts
addressing the fact that in many parts of the world especially developing
of the world especially developing
of the world especially developing countries cell phones are commonplace
countries cell phones are commonplace
countries cell phones are commonplace but access to quality information and
but access to quality information and
but access to quality information and education remains a rarity and so it’s
education remains a rarity and so it’s
education remains a rarity and so it’s filling a void by addressing the major
filling a void by addressing the major
filling a void by addressing the major pain points that parents in these
pain points that parents in these
pain points that parents in these communities often face inconvenience
communities often face inconvenience
communities often face inconvenience lack of time and feeling overwhelmed and
lack of time and feeling overwhelmed and
lack of time and feeling overwhelmed and their ability to accurately address and
their ability to accurately address and
their ability to accurately address and solve these issues is what makes them a
solve these issues is what makes them a
solve these issues is what makes them a true innovator and so from these
true innovator and so from these
true innovator and so from these examples we see that there are both
examples we see that there are both
examples we see that there are both examples of superficial innovation and
examples of superficial innovation and
examples of superficial innovation and genuine worthwhile innovation the
genuine worthwhile innovation the
genuine worthwhile innovation the question is how can we as a community as
question is how can we as a community as
question is how can we as a community as a generation move and progress towards
a generation move and progress towards
a generation move and progress towards having more of the latter ultimately
having more of the latter ultimately
having more of the latter ultimately there needs to be a criterion for
there needs to be a criterion for
there needs to be a criterion for innovation to bounce a few thoughts the
innovation to bounce a few thoughts the
innovation to bounce a few thoughts the proposed innovation should never have a
proposed innovation should never have a
proposed innovation should never have a motivation behind it that is purely a
motivation behind it that is purely a
motivation behind it that is purely a pursuit of novelty the net impact should
pursuit of novelty the net impact should
pursuit of novelty the net impact should obviously be positive the proposed
obviously be positive the proposed
obviously be positive the proposed positive impact should be long-term and
positive impact should be long-term and
positive impact should be long-term and it shouldn’t be outweighed by signal
it shouldn’t be outweighed by signal
it shouldn’t be outweighed by signal an opportunity cost for example if we’re
an opportunity cost for example if we’re
an opportunity cost for example if we’re proposing an innovative policy change
proposing an innovative policy change
proposing an innovative policy change then it shouldn’t come with the drawback
then it shouldn’t come with the drawback
then it shouldn’t come with the drawback of significant lash back or potential
of significant lash back or potential
of significant lash back or potential lack of progress in other areas more
lack of progress in other areas more
lack of progress in other areas more than an amalgamation of important
than an amalgamation of important
than an amalgamation of important factors however perhaps we can start to
factors however perhaps we can start to
factors however perhaps we can start to combine social impact with innovation
combine social impact with innovation
combine social impact with innovation not only does this introduce a new angle
not only does this introduce a new angle
not only does this introduce a new angle it also allows us to create inherent
it also allows us to create inherent
it also allows us to create inherent positive impact if an app is created
positive impact if an app is created
positive impact if an app is created that streamlines the invoicing process
that streamlines the invoicing process
that streamlines the invoicing process why not use it to increase access to
why not use it to increase access to
why not use it to increase access to banking and underserved communities if
banking and underserved communities if
banking and underserved communities if we have models out there why don’t more
we have models out there why don’t more
we have models out there why don’t more startups use them so that every dollar
startups use them so that every dollar
startups use them so that every dollar earned has a direct correlation to
earned has a direct correlation to
earned has a direct correlation to positive impact made if innovation is
positive impact made if innovation is
positive impact made if innovation is about cultivating and creating the best
about cultivating and creating the best
about cultivating and creating the best ideas of tomorrow why have we made
ideas of tomorrow why have we made
ideas of tomorrow why have we made entrepreneurship such a cutthroat space
entrepreneurship such a cutthroat space
entrepreneurship such a cutthroat space where less than 0.1 percent of startups
where less than 0.1 percent of startups
where less than 0.1 percent of startups even survive instead of having 10
even survive instead of having 10
even survive instead of having 10 geniuses and 10 rooms making 10 versions
geniuses and 10 rooms making 10 versions
geniuses and 10 rooms making 10 versions of the next big thing shouldn’t we have
of the next big thing shouldn’t we have
of the next big thing shouldn’t we have them collaborating and working together
them collaborating and working together
them collaborating and working together so that we can all benefit from the best
so that we can all benefit from the best
so that we can all benefit from the best product possible in the same way the TED
product possible in the same way the TED
product possible in the same way the TED slogan is ideas worth spreading we as a
slogan is ideas worth spreading we as a
slogan is ideas worth spreading we as a generation should consider innovation
generation should consider innovation
generation should consider innovation worth pursuing for us to have a slogan
worth pursuing for us to have a slogan
worth pursuing for us to have a slogan and a mission statement there’s the
and a mission statement there’s the
and a mission statement there’s the implication that we as a generation
implication that we as a generation
implication that we as a generation should be moving towards some kind of
should be moving towards some kind of
should be moving towards some kind of progressive future and so we should but
progressive future and so we should but
progressive future and so we should but if we’re implementing change just for
if we’re implementing change just for
if we’re implementing change just for the sake of implementing change then
the sake of implementing change then
the sake of implementing change then we’ve lost sight of the ultimate goal
we’ve lost sight of the ultimate goal
we’ve lost sight of the ultimate goal improvement and advancement as opposed
improvement and advancement as opposed
improvement and advancement as opposed to innovation in and of itself let’s
to innovation in and of itself let’s
to innovation in and of itself let’s stay away from the trap of innovation
stay away from the trap of innovation
stay away from the trap of innovation fetish and let’s keep in mind that it’s
fetish and let’s keep in mind that it’s
fetish and let’s keep in mind that it’s not just about changing the world but
not just about changing the world but
not just about changing the world but about changing it for the better
about changing it for the better
about changing it for the better thank you
thank you
thank you [Applause]
”
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