Another thing I've observed is how critical the role of the CEO is when a technology truly is disruptive. In looking back on companies that have successfully launched independent disruptive business units, the CEO always had a foot in both camps. Never have they succeeded when they spin something off in order to get it off the CEO's agenda. The CEOs that did this had extraordinary personal self-confidence, and almost always they were the founders of the companies.

Disruptive innovations create jobs, efficiency innovations destroy them.

The reason why it is so difficult for existing firms to capitalize on disruptive innovations is that their processes and their business model that make them good at the existing business actually make them bad at competing for the disruption. Companies in fact are specifically organized to under-invest in disruptive innovations! This is one reason why we often suggest that companies set up separate teams or groups to commercialize disruptive innovations. When disruptive innovations have to fight with other innovations for resources, they tend to lose out.

In most instances, biotechnology, though a radically different approach, is a sustaining technology: It's a dramatically improved way of targeting problems that we hadn't been able to solve with the conventional approach of mainstream pharmaceutical companies.

Breaking an old business model is always going to require leaders to follow their instinct. There will always be persuasive reasons not to take a risk. But if you only do what worked in the past, you will wake up one day and find that you’ve been passed by.

Christine and I haven't raised our children. A whole community of selfless Christians has contributed to helping them become faithful, competent adults.

The important thing is that over time, scientific progress transforms things that used to have to be dealt with in a problem-solving mode down to the pattern-recognition space; and from pattern recognition into the rules-based mode. This is the mechanism by which less-trained people are enabled to do more sophisticated things. This is always the way disruption happens. It enables a larger population of less-experienced people to do more sophisticated things.