Competition for the future is competition to create and dominate emerging opportunities-to stake out new competitive space. Creating the future is more challenging than playing catch up, in that you have to create your own roadmap.

A noble purpose inspires sacrifice, stimulates innovation and encourages perseverance.

Dakota tribal wisdom says that when you're on a dead horse, the best strategy is to dismount. Of course, there are other strategies. You can change riders. You can get a committee to study the dead horse. You can benchmark how other companies ride dead horses. You can declare that it's cheaper to feed a dead horse. You can harness several dead horses together. But after you've tried all these things, you're still going to have to dismount.

Online hierarchies are inherently dynamic. The moment someone stops adding value to the community, his influence starts to wane.

Taking risks, breaking the rules, and being a maverick have always been important but today they are more crucial than ever.

The single biggest reason companies fail is they overinvest in what is, as opposed to what might be.

There is no way to create wealth without ideas. Most new ideas are created by newcomers. So anyone who thinks the world is safe for incumbents is dead wrong.