31. Tradeoffs
Mileage Safety
A 2001 National Academy of Sciences study estimated that the traffic
death toll attributable to past downsizing was approximately 2,000 lives
per year.
In the previous lesson we were talking about the iPhone as a great innovation.\nBut what is “Innovation”?\n
In is not true because places don’t design things, people design things. Ideas occur in minds not in places.\n\n
Welcome to OneMinuteEcon. In this lesson we want to talk about ideas, inventions, and innovations.\n
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Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
