Internet video and the paradox of innovation


Internet video and the paradox of innovation

Filed under: Products and services, Television, Google (GOOG), Viacom (VIA), EntrepreneursOne of the great paradoxes of innovation is that in many cases, advances that have a tremendous effect on society make very little money for the innovators. Consider Warren Buffett's comments on new technology:Sizing all this up, I like to think that if I'd been at Kitty Hawk in 1903 when Orville Wright took off, I would have been farsighted enough, and public-spirited enough -- I owed this to future capitalists -- to shoot him down. I mean, Karl Marx couldn't have done as much damage to capitalists as Orville did. I won't dwell on other glamorous businesses that dramatically changed our lives but concurrently failed to deliver rewards to U.S. investors: the manufacture of radios and televisions, ...

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