Hamilton Helmer

And so when Cheney and I talked to companies recently,

will often, when we hear it, if they have been successful at transforming, and we talk about future transforming,

The narrative that makes us think, oh boy, this has really got our problem is, oh, we have a really defined process for innovation here, and there is a 17-step process, and we know exactly who to assign to it, and blah, blah, blah.

That's the red flag of all red flags, right?

And then there are other in-company things.

You worry about sort of screening criteria.

For example, some companies, when they're thinking of doing new stuff, say, well, I won't do it unless it will move the needle corporately, which means the market has to be a certain size.

Right.

And usually if it's already a billion dollar market, you're too late.

But this is just a highlight that invention is really hard.

It's hard for a large company to do it.

It's hard for individuals to do it.

And corporate strategy is asking a question on the transforming side, at least, of if you do it, are there cases in which your current platform are significant benefit to you?

Oh, iPhone and the iPod are straight up co-action.

Similar capabilities, but I mean, they are computers in sort of a generic sense, right?

But the iPhone, in a functional way, it does compete a little bit with the desktop.

Yeah, right.

Yeah, I mean, I would say that one of the things when you're trying to do business definition, there's the theoretical side is the power shared.

And then there's the empirical side is to look at the composition of competitors and see if they're different.

And that's suggestive that they're sort of different.