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Please note: This is a summary of the book and not the original book.
Inside this Instaread Summary:
Overview of the entire book
Introduction to the important people in the book
Summary and analysis of all the chapters in the book
Key Takeaways of the book
A Reader's Perspective
Preview of this summary:
Progress is the goal of the future. Horizontal and vertical are the two kinds of progress. Horizontal progress means more of what is currently working. Another word for horizontal progress is globalization, the act of taking a product and integrating it world wide. Vertical progress comes from doing new things that have not been done before. Technology, the new and better way of doing something, is another word for vertical progress. In terms of the world's future, technology matters more than globalization.
New technology generally comes from startups. These small groups of people with a mission have improved the world one new idea at a time. Big organizations are bureaucracies that move too slowly. Individuals alone cannot develop new ideas. New thinking is a new company's strongest characteristic.
When a person can recognize a popular belief that is delusional, that person can find the truth that few believe behind it. Traditional beliefs are seen as wrong only in retrospect.
Although the 1990s are remembered as being a prosperous decade, they were actually a time when the old economy could not withstand the challenges of globalization. The Internet boom and bust at the end of the decade was intense but lasted only 18 months. The most successful companies had what seemed to be an anti-business model where they lost money as they got larger. This is why the mania could not be sustained. At this time, globalization replaced technology as the best hope for the future.