Conversation

4 types of innovation:

1. Basic research - making fundamental scientific discoveries.
(Deep Learning, Blockchain)

2. Breakthrough innovation - applying fundamental discoveries and thinking from first principles to engineer new products. (Tesla, SpaceX)

3. Disruptive innovation - finding new applications and business models.
(Uber, YCombinator)

4. Sustaining innovation - gradually improving what already exists, making it better/cheaper. Solving clear problems using preexisting skillsets.