What is an innovation stack, and how does it help startups break free from the dominance of established market players? Dr. Diane Hamilton tackles this topic with today’s guest, Jim McKelvey, the co-founder of Square, a startup that enables small merchants to accept credit card payments on their mobile phones. Jim describes how Square miraculously survived an attack by Amazon by simply carrying on with what they are already doing. In his book, The Innovation Stack, Jim looks for historical precedents of the peculiar situation that Square found itself in, and found a rare pattern that these startups share: a list of innovations that made their businesses unique and eventually enabled them to dominate the market. Listen as Jim harks back to the historical meaning of the word “entrepreneur” and encourages us to do things that have not been done before. As a bonus, he also gives us a glimpse of how his newest startup, Invisibly, is developing innovations in micropayments in relation to web content.
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