Companies aren't responsible for innovation, consumers are

[Sebas.tian]

Not really the case all the time. For example, in the smartphone industry, we have different phones with different features that some were not influenced by the consumer. We have the notch now in smartphones and apple was the one who started that and some people seem to like it. The bottom line, the responsibility of innovation is neither on the shoulders of consumer nor the company rather they are shared.

[ufaiz50]

That's not exactly how it works, technology evolves in many directions. Hardware not only becomes faster, but also more cost-efficient. A decade ago smartphones were for the middle class, today even very poor people in third world countries have them, and functionally there's really not that much difference between them. So, irrational consumerism is not the only reason behind innovation.

Next, if entrepreneurs were only taking existing demand into account, we'd still be living in stone age. All major innovations start with raw ideas without thinking too much about potential users. Satoshi created Bitcoin and showed it to a small group of crypto enthusiasts, he didn't bother spending time on marketing. He knew that if technology is good, people will come on their own, because the word will spread.

They wouldn't have had the budgets to put into research and development and have the motivation to scale their products and make them cheaper if large amounts of people weren't able to purchase them. In this case, smartphone use wouldn't be possible unless internet connectivity and accessibility weren't widespread, which is also driven by consumer demand.

If a company made a be-all and end-all smartphone, they would go out of business. There always has to be room for more growth and more scalability. People have bills to pay and more things to buy.

I agree that all major innovations start with raw ideas, but they still definitely take human nature into account or they would never succeed. Satoshi had a genius idea because people hate being dependent on things they can't control.

Some small things from my experience, if you work in a goods or service company they get more innovations to create because of what they see from consumers and UX. If you are discussing about smartphones, actually every big company already has very end technology in creating smartphones, here they only use technology that can be said to be in the middle and add features according to their target customers, the company focuses on value for consumers, that is why smartphones have several series.

[RileyPeterson]

Companies always create their product and develop them for the consumers. So, in a way, the consumers are completely responsible for all the innovations and newly invented methods that the companies are coming up with.

[beerlover]

Tech giants are usually praised as holding complete responsibility for innovation, but you can' t have supply without demand.

People are programmed to compulsively desire the latest and greatest thing, which is why they are willing to justify working so hard in jobs most of them hate, or trade bitcoin lol.

If this scenario weren't happening, tech companies wouldn't have the budgets to create the incredible technology that we now have.

Where do you think this seemingly endless cycle will lead? Will the technology ever solve so many problems and carry so much value that it would destroy the cycle?

Why would you think the consumers are responsible for innovation. Innovation gets into a cycle in big companies and they basically spew out "new" looking old things that is basically not even considered innovation so companies and consumers are not doing anything on that part.

If you want to see innovation take a look at the new stuff coming out not the old companies, look at the companies that create new things, for example oculus rift and all the VR stuff in the world started out but moving along very slowly however they are making stuff that makes you "smell" and "feel" with a clothing that will make you get cold or feel hot depending on what you play.

Now, no consumer asked for this, it is of course amazing but we didn't really said "I will only buy if you create this" but they are innovating anyway, why ? Because, they know they can and it would be an improvement. True innovation lies in the creators mind that says "I can make this better".

[ss890]

Off course the ideas actually comes from the people who are using the stuff around the world. I mean they are the practical user of it and thus they know it better and know very well what should be the modification within the products and services they use. Even when we are with our friends and speaking about any subject then everyone starts giving out their own opinion about it and over the time these are the opinion which becomes the core of new ideas. Soon someone who is into the innovation and techs will capture such ideas and will pass it onto real world desires. Surely this correlation is perfect one.

[MarcoMayer]

They wouldn't have had the budgets to put into research and development and have the motivation to scale their products and make them cheaper if large amounts of people weren't able to purchase them. All major innovations start with raw ideas. But they still definitely take human nature into account or they would never succeed.

[yndye]

I agree to the assertion the assertion that consumers are the ones majorly responsible for innovations.
Companies can only executive the innovations after they must have collected feed backs regarding their products via questionaires.

Well, the companies are the one doing the implementation of the project while the customers are the one giving the idea to the company as to what they should be doing that's why there are surveys always and innovation doesn't stop because there is always a new idea popping up. Even those company giants who are in the top are always doing something new because they cannot sustain their position if they would make people be bored and if they don't offer something new that would make people excited.

[Assface16678]

As far as I'm concerned, companies must focus on developing to meet the needs of the consumer. Therefore to change the trend of continuous development, we must rely on more money. So Bitcoin economy has changed your how you have to understand investing in Bitcoin for the development of its capital for future profitable growth.

I agree. I have this mental thinking tht bitcoin is created to satisfies the need of peopl in which we people are looking forore instant way of investing amd also doing transactions. That is why there is a huge possibility that bitcoin will be the new currency, worldwide currency, because of its characteristics.

[Caelanpelley]

Technology innovation is a necessity in modern life. Consumers have to learn about innovations related to their work and their field. Companies have almost no responsibility for innovation. Investing in electronic money also requires you to approach new changes.

[aoluain]

That's not exactly how it works, technology evolves in many directions. Hardware not only becomes faster, but also more cost-efficient. A decade ago smartphones were for the middle class, today even very poor people in third world countries have them, and functionally there's really not that much difference between them. So, irrational consumerism is not the only reason behind innovation.

Next, if entrepreneurs were only taking existing demand into account, we'd still be living in stone age. All major innovations start with raw ideas without thinking too much about potential users. Satoshi created Bitcoin and showed it to a small group of crypto enthusiasts, he didn't bother spending time on marketing. He knew that if technology is good, people will come on their own, because the word will spread.

They wouldn't have had the budgets to put into research and development and have the motivation to scale their products and make them cheaper if large amounts of people weren't able to purchase them. In this case, smartphone use wouldn't be possible unless internet connectivity and accessibility weren't widespread, which is also driven by consumer demand.

If a company made a be-all and end-all smartphone, they would go out of business. There always has to be room for more growth and more scalability. People have bills to pay and more things to buy.

I agree that all major innovations start with raw ideas, but they still definitely take human nature into account or they would never succeed. Satoshi had a genius idea because people hate being dependent on things they can't control.

Look at what hatshepsut93 is posting, its evolution and many other things
thrown into the mix. Tech companies are already trying to make their
flagship models the best they can be but its a constant competition.

Tech giants are usually praised as holding complete responsibility for innovation, but you can' t have supply without demand.

People are programmed to compulsively desire the latest and greatest thing, which is why they are willing to justify working so hard in jobs most of them hate, or trade bitcoin lol.

If this scenario weren't happening, tech companies wouldn't have the budgets to create the incredible technology that we now have.

Where do you think this seemingly endless cycle will lead? Will the technology ever solve so many problems and carry so much value that it would destroy the cycle?

This is so far away from the truth.Just read some Steve Jobs interveiws or quotations.He says that consumers just don't know what they want and it's pointless to execute consumer research surveys.
The big corporations can create demand using marketing and advertising,so your point ins't valid.

Totally agree, we want the latest thing which is created by popular brands.
They make the latest versions and people respond.

[ColemanGentry]

It can be thought that way. The products are made to meet the demands of the consumers. So their needs are the reason behind the invention of new products. And on the demand of the products, vary the value of the coins.

[the13thsymphony]

Based on your title that the consumers are responsible for innovation and not the tech companies I would say that it is 50% true. Why you may ask? Well let us see it from this perspective companies are the ones that make the product that the consumers buy and for the to stay at the top the company would need to make and release a better product, so both goes hand in hand as the consumers would want to have new technology at their hands companies will have to create them using the fund that they have collected from the consumers.

However for real innovation in technology to be created competition is also the key as if there is no competition in the market then the company that owns the product can monopolize the market space and just milk the consumers by giving small innovations. A great example here is Intel, because they have owned the greatest market share over the last decade since AMD cannot compete with the products they have until Ryzen they are milking the consumers for years with their I series that consumers are willing to pay for a price thus no great innovation was provided. And when innovation came to their competitor they are having a hard time releasing products that can compete to it.

[Xardasim]

Technology will ruin many things as well as solve many things. Imagine that robot will do your job without sleeping, eating and relaxing. Then why does the world need you? Existing more intelligent robots than us will make us meaningless. This is actually a good thing, but it will become increasingly boring.

[MintCondition]

Technology will ruin many things as well as solve many things. Imagine that robot will do your job without sleeping, eating and relaxing. Then why does the world need you? Existing more intelligent robots than us will make us meaningless. This is actually a good thing, but it will become increasingly boring.

And it will make our self less since we will not be responsible enough since we rely on robots now. It maybe good to some who are too busy, but it might be manipulated too much in a wrong ways. Though it's a thing now to adopt and get advance since were in tech era.

[Renaldi blackspadeteam]

in my opinion, blockchain technology and cryptocurrency can solve this problem, I think blockchain technology is very safe because so far no hackers have succeeded in hacking blockchain technology, that's why I believe in blockchain technology

[Indrawan77]

I think both of them are responsible for creating innovative products, I agree that there won't be any supply without any demand, but even if there's demand there is no guarantee that the companies going to supply, companies work based on the demand volume and how big is the profit

[setialovers]

That's not exactly how it works, technology evolves in many directions. Hardware not only becomes faster, but also more cost-efficient. A decade ago smartphones were for the middle class, today even very poor people in third world countries have them, and functionally there's really not that much difference between them. So, irrational consumerism is not the only reason behind innovation.

Next, if entrepreneurs were only taking existing demand into account, we'd still be living in stone age. All major innovations start with raw ideas without thinking too much about potential users. Satoshi created Bitcoin and showed it to a small group of crypto enthusiasts, he didn't bother spending time on marketing. He knew that if technology is good, people will come on their own, because the word will spread.

I am agree with your opinion. Company have R&D division and funded well. Technology always improves and cryptocurrency is one of technology result. Consumerism sometimes good for technology because people always make innovation to fill consumerism need

[ngano ba]

The consumers are the endusers of the products ,and they can suggest and demand what they want from the product suppliers , so it is the responsibility of the companies to accept the demand and likes of the customers or cunsumers , so they would have to adopt the new innovation in order that the endusers would patronized their products, it is the same with cryptocoins the management team would have  to response for some innovation in order for the customers to be satisfied and continuecto invest for this kind of altcoins.

[yugyug]

As the quote goes "necessity is the mother of all inventions" and we as the consumer creates the demand for the necessity of our daily lives. Just like the necessity of our communication that's why telephone and any wireless messaging was created and the company continue to innovate to develop further the quality of communications. So in every products and technologies were created to address the needs of the consumer. Just like for energy demand, people want some cheap and high efficient power generation demand so that's why solar power plants and other renewable energies were reproduced. The bottom line is we, the consumer are the responsible for the innovation and inventions.

[cctv0]

This question is not objective enough. First of all, consumers are passive and most people accept it. The technology giant is not not innovative but it is very difficult to innovate. You must know that this is very ideal, but you don't have to worry about the breakthrough speed of technology.