Re:Age and the entrepreneur, part 1: Some data
by run4yourlives on Wednesday August 08, 2007 @06:22PM
(#40653)
There's a huge amount of innovation in the airplane business.
If it isn't the plane itself, it's the business model (westjet/southwest?). The problem with the industry - like others such as insurance, banking etc. - is the huge startup costs.
When you have larger start-up barriers, you get less incentive to innovate. If you're being bankrolled, you'll innovate, which is why the USAF had a new fighter every ten years when the cold war was on.
If it isn't the plane itself, it's the business model (westjet/southwest?). The problem with the industry - like others such as insurance, banking etc. - is the huge startup costs.
When you have larger start-up barriers, you get less incentive to innovate. If you're being bankrolled, you'll innovate, which is why the USAF had a new fighter every ten years when the cold war was on.