Companies aren't responsible for innovation, consumers are

[shield132]

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?

That's the power of marketing. For example girls buy iphone's latest models just to hold them lol, the only function they use is selfie camera, instagram and facebook, I highly believe 99% have never used NFC or really need A11 Bionic chip or have any imagination on jailbreaking and etc. For them it's main features are camera and wireless connection to upload photos.
On another hand you are true, for example two or three camera on one smartphone, those new, wide screens are invented for years but to make things innovative and give us a reason to buy, they implement everything very lately. This cyclr will never end, especially now when economics is everything.

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[Raumar02]

I do not think there is a pasue button for technological innovations. Human beings are curious and will always demand more in life and that will force more innovation, as the cycle continues.

[Jilinyth069]

I agree with you but not completely. Because even though customer's demand pushes the companies to go further but also companies need to think outside the box beforehand to stay alive in the market which helps in innovation.

[SnowAugustine]

One of the biggest challenges of companies is to create things that people do not realize they actually need. We now live in a highly competitive world. If companies only create things that people ask for, that wouldn't result to much. Just look at VR devices. Nobody asked for them but someone thought of creating them. Now, there are already a lot of companies who if not in gaming are using it in education, training, and healthcare. Big companies CREATE a need. I used to work for a huge company that actually have a quarterly competition open to everyone to submit innovative ideas - and most of them are actually great, things that the normal consumer wouldn't even think of asking from a tech company.

[spongegar]

I think innovation really comes from companies and the consumers supports it. I mean consumers didn't create a smart phone, companies did. Because consumers are dictated with what they want and what they need. We have become effective sheeps for these companies. I mean since when did we need filters for our pictures?

[BitcoinCommodor]

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

Well for me, this theory works like these two things are compulsory for one another. There can’t be success and progressive race until innovation and consumers aren’t contributing towards one another stake. Companies are the models that provide services for consumers, they utilize it and then in turn, innovation progresses. For the time being, these three have to work in parallel.

[futile-resistance]

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?

Someone just gave a good reply to this, not every innovation had the consumers in mind. Even Satoshi never had in mind that Bitcoin will go this far cause what he wanted was something that can be used from peertopeer but later on a lot of people adopted the use of cryptocurrency. And now you can see how far the technology has achieved and even investors has taken over and invests millions of dollars on it.

[mazdafunsun]

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.

Noone is resopnible for anything. It is basic economics, the demand and competition is the dricing force behind innovation and technolgical advance which leads in fast depreciation of electonics since everyone is pushing to the next level , constantly.

[creeps]

Companies just provide what their customers need.
They innovate and make researches to provide better services and better products.
It is not a cycle, it is a continuous work and each invention leads to another.

I agree, its not a cycle since we are not coming back from the old habit, we are continuously growing in terms of the technology. Companies innovate for us, and as a consumer we have no choice but to adopt it. Most especially in cellphone innovation, we don’t really need much of the features of every phone, and yet companies innovate for us and most people love to adopt it.

Cryptocurrency has a great ambition, and this is why it continues to innovate through altcoins and many more. This is a growing market now, its not responsible for any financial changes and yet cryptocurrency are doing its best to provide a quality service for us, and many investors loves to adopt that technology.

[Reid]

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 blame the consumers?
If you have the right features for a project then I am sure people will go for it. There is now social media who can help a lot if you want a project to be funded by the community.
Big investors will be next to it when it is seen as being hyped by most people.

I have seen a lot who does like that. They dont pay for ads but yet they have buyers.
Have fairh with people, they are getting wise now.

[paparexon0414]

They have both responsible of innovations. They so it hand and hand. Maybe your right consumer will have to buy what is needed and in course of time they will tend to find a new and better products. In this situations, the company would think a new and better products to satisfy the needs of their consumer. They are the one  who will promote this new innovations for the acknowledgement of their consumers. So this two factors are indeed important in balancing the market.

[Ewinsane]

They have both responsible of innovations. They so it hand and hand. Maybe your right consumer will have to buy what is needed and in course of time they will tend to find a new and better products. In this situations, the company would think a new and better products to satisfy the needs of their consumer. They are the one  who will promote this new innovations for the acknowledgement of their consumers. So this two factors are indeed important in balancing the market.

But companies are responsible to the customers if only they want more customers. The world we live in has many companies in many business, even the biggest company in the world apple has to worry about microsoft being better on their computer parts and samsung being better on their mobile phone world. It means everyone needs to keep innovating in order to keep beating each other and making more profits.

If you stop innovating for a year or two than the other companies will become much better than you and you will have to find a way to innovate a lot faster and be better than them. So, as you can see yes the customers are responsible for innovating if it means purchasing the most improved product instead of the old product but the companies are responsible to innovate in order to be the best and get the customers.