For Aristotle, the term “Economics” referred to the discipline aimed at the head of the family with the purpose of guiding him in the achievement of justice and prudence in the domestic sphere. It is a term for how people relate to each other, the world around them and all the activities necessary to its management, preservation, and growth in order to achieve a full and meaningful life. Wealth is the ability to fully experience life in a healthy Industry. The real measure of your wealth is how much you’d be worth if you lost all your money.
Economics is too important to be left to the economists nowadays. It requires the Aroma of neoteric technologies.
Within any industry, mental models tend to converge over time. Executives read the same trade magazines, go to the same conferences, and talk to the same consultants. After a while, most of them think alike. Innovators, by contrast, are contrarians. In their quest to upend industry rules, they learn how to distinguish “immutable laws” from “ingrained beliefs”. They exploit the unhealthy reverence incumbents have for precedent.
At Lendhof we don’t spend much time speculating about what might Instead, we pay a lot of attention to the little things that are already changing, and that are gathering speed.
To be an innovator, you don’t need a crystal ball: you need a wide-angle lens.
You must be tracking trends your competitors haven’t yet noticed, then figuring out ways of using them to upend traditional business models.