Sunday Posts

There was a time - not too long ago - when I used to be excited by venture talk. Spending hours on PowerPoint presentations or ever complicated Excel spreadsheets, I painted the future - and then 'pivoted'. I participated in the watercooler chat about valuations and name-dropped every VC I knew in town. The future - I believed like everyone else - had a valuation. Nowadays, though, I am scared. Through many failures and some successes, I have come to see what venture capital does to industries. While I spent my entire career looking for innovation opportunities, I have lately realised that disruptions can be literal and really destructive. Of course, my age explains my scepticism, but that also allows me to see things in context. Also, the reason I am scared is personal: I chose, early in my career, to be in education. That's what I have done for over twenty years now, not just working in it but also reading, thinking and talking about it. There was venture-talk in educatio...

Two things trigger this thought. First, the conversation I have been recently engaged into, and particularly the question, why is Indian IT Industry is not more innovative. And, second, this is about the Not-For-Profit projects which I dabble with, which concern themselves with the task of creating innovation ecosystems in India and Africa. My point is - despite all the fuss about Innovation - developing countries are doing quite poorly in innovation. Overall, the world is living in a bubble that Fredrik Erixon and Björn Wiegel will call an Innovation Illusion. There is a lot of talk and lots of people claiming that they have made a truly new thing - and media fawning over this and that - but apart from 'digitization' of some of the tasks, we are moving forward little. And, this is particularly acute in the developing world, which is doing some 'Copy and Catch-up' innovation (Tyler Cowen's term) but failing to solve their most basic problems. In more ways than...