Why innovate?: The essence of innovation

This lecture delves into the concept of innovation, exploring the definition of an innovative idea as the practical realization of a new method, device, or concept. It also discusses entrepreneurship and intrapreneurship, emphasizing the pursuit of opportunities regardless of current resources. The lecture further examines real-world examples of innovative business models, such as Uber and Airbnb, which challenge traditional paradigms. Additionally, it analyzes the network imperative in the digital age, highlighting different business models' scalability and performance metrics. The discussion extends to the correlation between business models and multipliers, showcasing how companies can achieve high scalability and success through innovative approaches.