Clayton M. Christensen

I wouldn't say there isn't a direct path to a successful career. There are people who knew exactly what they wanted to do from a very young age, weren't going to be diverted, and then they just went out and achieved it. ”

Colleges would compete by adding professors, enhancing programmes or building nicer facilities. So they competed by making institutions better. ”

When a company identifies how to integrate the processes needed to give the consumer a sense of job completion, it can blow away the competition. A product is easy to copy, but experiences are very hard to replicate. ”

Efficiency innovations are a natural part of the economic cycle, but these are the innovations that streamline process and actually reduce the number of available jobs. ”

If you understand cause and effect, it brings about a set of insights that leads you to a very different place. The knowledge will persuade you that the market isn't organized by customer category or by product category. If you understand the job that consumers need to complete, you can articulate all of the experiences in that job. ”

When you're thinking about your next product or current product and wondering how to make it different so you don't have competition, understand the job the customer needs to get done. ”

There is no single right answer or path forward, but there is one right way to frame the problem. ”

The Republicans are wrong in thinking that the rich create jobs. In reality, many of the richest Americans have been investing in efficiency innovations rather than to create jobs. And the Democrats are wrong, because growth won't happen if they distribute the wealth of the wealthy to everyone else. ”

People in private equity complain that they have so much capital and so few places to invest. But you have lots of entrepreneurs trying to raise money at the low end and find that they can't get funding because of this mismatch. I think that there is an opportunity there. ”

The financial doctrines so zealously followed by American companies might help optimize capital when it is scarce. But capital is abundant. If we are to see our economy really grow, we need to encourage migratory capital to become productive capital - capital invested for the long-term in empowering innovations. ”