The Innovation Delusion

“Innovation” is the hottest buzzword in business. But what if our obsession with finding the next big thing has distracted us from the work that matters most? “The most important book I’ve read in a long time . . . It explains so much about what is wrong with our technology, our economy, and the world, and gives a simple recipe for how to fix it: Focus on understanding what it takes for your products and services to last.”—Tim O’Reilly, founder of O’Reilly Media It’s hard to avoid innovation these days. Nearly every product gets marketed as being disruptive, whether it’s genuinely a new invention or just a new toothbrush. But in this manifesto on thestate of American work, historians of technology Lee Vinsel and Andrew L. Russell argue that our way of thinking about and pursuing innovation has made us poorer, less safe, and—ironically—less innovative. Drawing on years of original research and reporting, The Innovation Delusion shows how the ideology of change for its own sake has proved a disaster. Corporations have spent millions hiring chief innovation officers while their core businesses tank. Computer science programs have drilled their students on programming and design, even though theoverwhelming majority of jobs are in IT and maintenance. In countless cities, suburban sprawl has left local governments with loads of deferred repairs that they can’t afford to fix. And sometimes innovation even kills—like in 2018 when a Miami bridge hailed for its innovative design collapsed onto a highway and killed six people. In this provocative, deeply researched book, Vinsel and Russell tell the story of how we devalued the work that underpins modern life—and, in doing so, wrecked our economy and public infrastructure while lining the pockets of consultants who combine the ego of Silicon Valley with the worst of Wall Street’s greed. The authors offer a compelling plan for how we can shift our focus away from the pursuit of growth at all costs, and back toward neglected activities like maintenance, care, and upkeep. For anyone concerned by the crumbling state of our roads and bridges or the direction our economy is headed, The Innovation Delusion is a deeply necessary reevaluation of a trend we can still disrupt.

“Innovation” is the hottest buzzword in business. But what if our obsession with finding the next big thing has distracted us from the work that matters most? “The most important book I’ve read in a long time . . . It explains so much about what is wrong with our technology, our economy, and the world, and gives a simple recipe for how to fix it: Focus on understanding what it takes for your products and services to last.”—Tim O’Reilly, founder of O’Reilly Media It’s hard to avoid innovation these days. Nearly every product gets marketed as being disruptive, whether it’s genuinely a new invention or just a new toothbrush. But in this manifesto on thestate of American work, historians of technology Lee Vinsel and Andrew L. Russell argue that our way of thinking about and pursuing innovation has made us poorer, less safe, and—ironically—less innovative. Drawing on years of original research and reporting, The Innovation Delusion shows how the ideology of change for its own sake has proved a disaster. Corporations have spent millions hiring chief innovation officers while their core businesses tank. Computer science programs have drilled their students on programming and design, even though theoverwhelming majority of jobs are in IT and maintenance. In countless cities, suburban sprawl has left local governments with loads of deferred repairs that they can’t afford to fix. And sometimes innovation even kills—like in 2018 when a Miami bridge hailed for its innovative design collapsed onto a highway and killed six people. In this provocative, deeply researched book, Vinsel and Russell tell the story of how we devalued the work that underpins modern life—and, in doing so, wrecked our economy and public infrastructure while lining the pockets of consultants who combine the ego of Silicon Valley with the worst of Wall Street’s greed. The authors offer a compelling plan for how we can shift our focus away from the pursuit of growth at all costs, and back toward neglected activities like maintenance, care, and upkeep. For anyone concerned by the crumbling state of our roads and bridges or the direction our economy is headed, The Innovation Delusion is a deeply necessary reevaluation of a trend we can still disrupt.

All organisations have problems, and they nearly always concern people: how to manage them; whom to hire, fire or promote; and how to motivate, develop and retain high performers. Psychology, the main science for understanding people, should be a pivotal tool for solving these problems - yet most companies play it by ear, and billions of dollars are wasted on futile interventions to attract and retain the right people for key roles. Bridging the gap between the psychological science of talent and common real-world talent practices, The Talent Delusion aims to educate HR and talent practitioners and leaders on critical talent issues. It will help readers understand the current problems pertaining employee selection, development and engagement; how to define and evaluate talent; how to detect and inhibit toxic employee behaviours; and how to motivate employees to perform to their best.

WALL STREET JOURNAL BESTSELLER • A FINANCIAL TIMES, FORTUNE, AND NPR BEST BOOK OF THE YEAR • “The riveting, definitive account of WeWork, one of the wildest business stories of our time.”—Matt Levine, Money Stuff columnist, Bloomberg Opinion The definitive story of the rise and fall of WeWork (also depicted in the upcoming Apple TV+ series WeCrashed, starring Jared Leto and Anne Hathaway), by the real-life journalists whose Wall Street Journal reporting rocked the company and exposed a financial system drunk on the elixir of Silicon Valley innovation. LONGLISTED FOR THE FINANCIAL TIMES AND MCKINSEY BUSINESS BOOK OF THE YEAR AWARD WeWork would be worth $10 trillion, more than any other company in the world. It wasn’t just an office space provider. It was a tech company—an AI startup, even. Its WeGrow schools and WeLive residences would revolutionize education and housing. One day, mused founder Adam Neumann, a Middle East peace accord would be signed in a WeWork. The company might help colonize Mars. And Neumann would become the world’s first trillionaire. This was the vision of Neumann and his primary cheerleader, SoftBank’s Masayoshi Son. In hindsight, their ambition for the company, whose primary business was subletting desks in slickly designed offices, seems like madness. Why did so many intelligent people—from venture capitalists to Wall Street elite—fall for the hype? And how did WeWork go so wrong? In little more than a decade, Neumann transformed himself from a struggling baby clothes salesman into the charismatic, hard-partying CEO of a company worth $47 billion—on paper. With his long hair and feel-good mantras, the six-foot-five Israeli transplant looked the part of a messianic truth teller. Investors swooned, and billions poured in. Neumann dined with the CEOs of JPMorgan and Goldman Sachs, entertaining a parade of power brokers desperate to get a slice of what he was selling: the country’s most valuable startup, a once-in-a-lifetime opportunity and a generation-defining moment. Soon, however, WeWork was burning through cash faster than Neumann could bring it in. From his private jet, sometimes clouded with marijuana smoke, he scoured the globe for more capital. Then, as WeWork readied a Hail Mary IPO, it all fell apart. Nearly $40 billion of value vaporized in one of corporate America’s most spectacular meltdowns. Peppered with eye-popping, never-before-reported details, The Cult of We is the gripping story of careless and often absurd people—and the financial system they have made.

An investment banker and professor explains what really drives success in the tech economy Many think that they understand the secrets to the success of the biggest tech companies: Facebook, Amazon, Apple, Netflix, and Google. It's the platform economy, or network effects, or some other magical power that makes their ultimate world domination inevitable. Investment banker and professor Jonathan Knee argues that the truth is much more complicated--but entrepreneurs and investors can understand what makes the giants work, and learn the keys to lasting success in the digital economy. Knee explains what really makes the biggest tech companies work: a surprisingly disparate portfolio of structural advantages buttressed by shrewd acquisitions, strong management, lax regulation, and often, encouraging the myth that they are invincible to discourage competitors. By offering fresh insights into the true sources of strength and very real vulnerabilities of these companies, The Platform Delusion shows how investors, existing businesses, and startups might value them, compete with them, and imitate them. The Platform Delusion demystifies the success of the biggest digital companies in sectors from retail to media to software to hardware, offering readers what those companies don't want everyone else to know. Knee's insights are invaluable for entrepreneurs and investors in digital businesses seeking to understand what drives resilience and profitability for the long term.

Companies, entrepreneurs, and complexity -- Capitalism and economic dynamism -- What is wrong - the map or the reality? -- Technology and income - are they decoupling? -- Jobs and technology -- Innovation famine rather than innovation feast -- 9 THE FUTURE AND HOW TO PREVENT IT -- From corporate globalism to global corporatism -- The continued rise of regulatory uncertainty -- The "silver tsunami" for cash -- Future imperfect -- Preventing the future -- NOTES -- REFERENCES -- INDEX

How can management be developed to create the greatest wealth for society as a whole? This is the question Peter Drucker sets out to answer in Innovation and Entrepreneurship. A brilliant, mould-breaking attack on management orthodoxy it is one of Drucker’s most important books, offering an excellent overview of some of his main ideas. He argues that what defines an entrepreneur is their attitude to change: ‘the entrepreneur always searches for change, responds to it and exploits it as an opportunity’. To exploit change, according to Drucker, is to innovate. Stressing the importance of low-tech entrepreneurship, the challenge of balancing technological possibilities with limited resources, and the organisation as a learning organism, he concludes with a vision of an entrepreneurial society where individuals increasingly take responsibility for their own learning and careers. With a new foreword by Joseph Maciariello

Why do some companies prosper while others fail? Despite great amounts of research, many of the studies that claim to pin down the secret of success are based in pseudoscience. THE HALO EFFECT is the outcome of that pseudoscience, a myth that Philip Rosenzweig masterfully debunks in THE HALO EFFECT. THE HALO EFFECT highlights the tendency of experts to point to the high financial performance of a successful company and then spread its golden glow to all of the company's attributes - clear strategy, strong values, and brilliant leadership. But in fact, as Rosenzweig clearly illustrates, the experts are not just wrong, but deluded. Rosenzweig suggests a more accurate way to think about leading a company, a robust and clearheaded approach that can save any business from ultimate failure.