The Hidden Economics of Ideas
Ideas are getting harder and harder to find
There is a widely held view in Silicon Valley and within the zeitgeist of entrepreneurialism that good ideas are commonplace, and that execution of ideas is what matters for business success. However, there is compelling evidence that knocks that conventional wisdom off its pedestal.
A group of economists, Nicholas Bloom, Charles Jones, John Van Reenen, and Michael Webb, have released a working paper — Are Ideas Getting Harder To Find? — that argues the opposite: