Clayton Christensen Quotes
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Venture capital is always wanting to go up market.
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Universities think people come up with great ideas by closing the door. The academic tenure process, where you have to publish to journals which are very narrow, stands in the way of great research.
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By doing what they must do to keep their margins strong and their stock price healthy, every company paves the way for its own disruption.
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People don't actually want to think about their own health and don't take action until they are sick. Yet employers are very motivated to get their employees healthy, since they bear most of the burden of their health care costs.
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The reason why it is so difficult for existing firms to capitalize on disruptive innovations is that their processes and their business model that make them good at the existing business actually make them bad at competing for the disruption.
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A disruptive innovation is a technologically simple innovation in the form of a product, service, or business model that takes root in a tier of the market that is unattractive to the established leaders in an industry.
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Optimizing return on capital will generate less growth than optimizing return on education.
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Whenever we have thanked these men and women for what they have done for us, without exception they have expressed gratitude for having the chance to help - because they grew as they served.
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There are three types of innovations that affect jobs and capital: empowering innovations, sustaining innovations and efficiency innovations.
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The parents of teenagers would love to have a car that won't go very far or go very fast. They could just cruise around the neighborhood, drive it to school, see their friends, plug it in overnight.
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During the early stages of an industry, when the functionality and reliability of a product isn't yet adequate to meet customer's needs, a proprietary solution is almost always the right solution - because it allows you to knit all the pieces together in an optimized way.
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If you develop a product that gets what the customer is trying to get done, you don't have to advertise; people will just pull it into their lives.
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A sustaining innovation makes better products that you can sell for better profits to your best customers.
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Many of the factors that we think will cause motivation, such as fair pay and a good manager, won't make you love your job. Even if you eliminate what makes you dissatisfied, that doesn't make you motivated. It doesn't make your work rewarding. You just are less bothered by things.
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An innovation will get traction only if it helps people get something that they're already doing in their lives done better.
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Relative to the taxi industry, Uber is a sustaining innovation; that is, it makes customers' lives better. Uber targeted mainstream markets with a better service for existing customers, and it succeeded in serving them better than the incumbents.
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Colleges would compete by adding professors, enhancing programmes or building nicer facilities. So they competed by making institutions better.
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There just isn't anything more invigorating than to read an article or hear about an entrepreneur using the term 'disruptive technology' that makes no reference to me as the source. When it's clear they really got the idea and they use it as if it were in everyday parlance, that's the ultimate triumph.
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If you make that decision, that you'll always follow that rule, then your commitment to do it sinks into your heart, and when you realize the benefits of having integrity time after time, it really changes your heart, not just your head.
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Empowering innovations require long-term investments, which tie up capital for years and years. So companies are using capital to create more capital, and consequently, the world is awash in capital, but the innovations we need to advance aren't there.
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While I wouldn't say that most entrepreneurs find it easy to get funding, there are certainly more people out there funding technology and healthcare companies than in other areas.
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We are awash in content that needs to be taught, yet the vast majority of colleges give a large portion of their faculties' salaries to fund research.
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By definition, big data cannot yield complicated descriptions of causality. Especially in healthcare. Almost all of our diseases occur in the intersections of systems in the body.
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Funding that is focused on the ability to diagnose diseases precisely will just have inestimable value because that's the gate through which precision medicine has to go. Unless you can diagnose the disease precisely, care has to remain in the hands of expensive institutions and expensive caregivers.