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Innovate Or Die In Money Too - Why Financial Industry Must Plan for the Next 50 Years Not Just Next 5 via HBR1

Innovate Or Die In Money Too - Why Financial Industry Must Plan for the Next 50 Years Not Just Next 5 via HBR1 | Startup Revolution | Scoop.it

Innovate or Die In Money Too

Loved this HBR intro:

"Despite rapid innovations in data processing and machine learning, many businesses have yet to make the leap from the Industrial Age to the information age, and the gap between technological and organizational progress is widening. Closing this gap requires much more than short-term fixes, like adopting new technologies. Businesses need to organize around long-term strategies for growth and partnership in a sustainable way. The consequences for not doing so can be dire.

 

Eastman Kodak is the textbook case for failing to prioritize an innovation agenda; business schools around the world study the ramifications of the company’s ill-fated decision to ignore the digital photography market until it was too late. It’s far from the only case of a failure to embrace a more digital approach; the larger shift to digital is changing the way every industry operates. Some industries, like photography and media, were impacted earlier. Others, like financial services, are only now experiencing this change in earnest. The common thread in each instance is that a failure to recognize signals and prioritize innovation over short-term profits before it’s too late can have existential ramifications and cause negative ripples throughout broader capital markets."

If That doesn't scare the pants off you then we don't know what will. Money and finance are under pressure and it's innovating or die time. Money, as we've known it, is already dead man walking. 

Martin (Marty) Smith's insight:

HBR article shares many places startups are and will be changing finance and money. 

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How to Negotiate with VCs: One, Two, Three - HBR

How to Negotiate with VCs: One, Two, Three - HBR | Startup Revolution | Scoop.it
Business management magazine, blogs, case studies, articles, books, and webinars from Harvard Business Review, addressing today's topics and challenges in business management. (A strongly recommended read!
Martin (Marty) Smith's insight:

HELPFUL since this is truly a TRIBE unto itself. VCs are all about mitigating risks and finding teams they trust. Strange to think of a high risk profession as being risk adverse, but VCs are the card counters in vegas. They want the odds to be at least even and no so much wiht the house.

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Jose Gonzalez's curator insight, February 24, 2014 10:58 PM

Excellent !!!!!!!!!!

Thanks

Jose Gonzalez's curator insight, February 25, 2014 8:52 PM

Cool !

Marc Kneepkens's curator insight, February 26, 2014 11:04 AM

Important article showing the motivations of VC's and startups, and how human motivations can influence deals even many years after they have been made. Highly recommended.