With an estimated net worth of $75 billion, Bill Gates, the richest person on Earth, would need to add another $925 billion to his fortune before becoming the first trillionaire in history. As implausible as it may sound, one Silicon Valley entrepreneur believes such an achievement isn’t just doable, but over the next several decades, inevitable — and it won’t necessarily be Gates who gets there. “We need to be ready for a world with trillionaires in it,” says Sam Altman, the president of Y Combinator, the tech industry’s largest and most well-respected incubator for start-ups. “And that’s always going to feel deeply unfair. It feels unfair to me. But to drive society forward, you’ve got to let that happen.” Altman’s hunch is a solid one. Bob Lord, an inequality analyst and tax attorney, believes the shift in wealth could happen as early as 25 to 30 years from now. But it probably won’t be someone like Gates who makes it to 13 digits first — Gates is far too preoccupied with giving his money away, Lord says. “I think it’s going to take someone less like Gates and more like Rockefeller,” he tells Tech Insider.
The Lean Startup is a process for turning ideas into commercial ventures. Its premise is that startups begin with a series of untested hypotheses. They succeed by getting out of the building, testing those hypotheses and learning by iterating and refining minimal viable products in front of potential customers.
That’s all well and good if you already have an idea. But where do startup ideas come from? Where do inspiration, imagination and creativity come to bear? How does that all relate to innovation and entrepreneurship?
Quite honestly I never gave this much thought. As an entrepreneur my problem was that I had too many ideas. My imagination ran 24/7 and to me every problem was a challenge to solve and new product to create. It wasn’t until I started teaching that I realized that not everyone’s head worked the same way. While the Lean Startup gave us a process for turning ideas into businesses –…
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