Thursday, October 21, 2010

Bureaucratic government, venture capital style

Gist: X prize, Google, and Department of Education suddenly have working style in common. Stephen Dubner, the co-author of the book and host of the podcast of Freakonomics Radio, has shown the common of these three. The X prize Foundation is willing to give people who can solve the problem a large amount of money as reward. Google allows its engineers to have 20% of their working time to practice their creative idea. DOE has launched the program “Race to the top ”, which is trying to give states a lot of money on their efforts on the ways to innovate. This acting is kind of like venture capital firm. Try to get as many ideas as they can and most of them are failed. The last one survived rises to the top, and get the rich reward. If this acting could also be used on their work efficiency, it would be another surprising thing.

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