The document discusses four types of innovation that startups embrace: unintended innovation that occurs by accident, desperation innovation that emerges when there are no other options, collaboration innovation through diverse brainstorming, and perspiration innovation through hard work. It then describes four approaches startups use to innovate: not knowing any better due to inexperience, allowing an autocratic genius innovator as CEO, failing more cheaply as startups, and having huge motivation to innovate or die.