2 Mindsets:

1. Artist/inventor: takes some technology and brings a new product to life
   • Build-first
   • Takes big risks
   • Loves their solution
   • The solution is the product
2. Innovator: takes some technology/product and turn them into a business model
   • Customer-first
   • Removes biggest risks
   • Loves customer's problem
   • The business model is the product

An invention is simply a new technology, method, or process.

Innovation is taking a new invention to market.

Inventions often come before innovations.

A company like Apple is purely in the innovation business. They don’t invent new stuff but are very good at taking existing inventions to market to solve customer problems in novel ways. The few times when they actually invented stuff, they failed. Think back to the first and second Newton devices that promised advanced handwriting recognition.