Some more thoughts on the theme of entrepreneurship evolution. Over 20 years ago I read about Andrew Carnegie, the bill gates of his time. He was part of the first generation of entrepreneurs that could administer an entire industry, vertically and horizontally consolidating supply chains and customers. Carnegie traveled back to Scotland from the US and here he saw the innovation happening in European steel mills which like all good entrepreneurs he took back home and applied to his own ventures. I would like to tag Andrew Carnegie as a great Administrator innovator. His entrepreneurship brings existing intellect to parts of the world where that knowledge is not known. This type of entrepreneurship I would argue is still the most common in the economy today, I would put Richard Branson forward as a classic contemporary example. However, time moves on and moves at Internet speed. Maybe it is a commentary on our current economic world that this type of Administrator entrepreneurship still has the capital and time to operate, maybe it also a symptom on the narrowness of innovation actually going on?
So, things are speeding up but also a new dimension will now come to dominate, computational power. And the competitive or Darwinian force weeding out the Administrators from the intellect innovators will be their ability to contribute and collaborate new knowledge to the economy.