Skill or Habit? What belongs to the first category and what belongs to the second? And how can technology better promote skill? That is the primary question of this week’s podcast and we take a long time to answer it. Our trip takes us through the writings of Adam Smith, an app that can calculate net wealth from a business card and an eight year old disruptive innovator who will never move to Brooklyn “because everyone knows that the best startups aren’t in Brooklyn.”
The Schumpethon is business pitch contest of the Lillian Moller Gilbreth School for Disruptive Innovation, the fictional school that is next to our fictional office in Silicon Valley. It is, of course, named for Joseph Schumpeter (1883-1960) the Austrian economist who studied business cycles and argued that recessions helped move capital from less efficient industries to more efficient industries. This episode introduces Maddie, one of the competitors in this year’s contest. This is not her first Scumpethon but as she is only eight, she will have many more opportunities to disrupt.