I am simultaneously reading a few different books in which the concept of innovation is addressed.
IOW, the time between each S curve intersection on the business graph above should be decreasing. Innovation is not particularly well-understood or well-defined. Does competition drive innovation and/or does innovation drive competition? If necessity is the mother of invention, what is the effect of sufficiency? How would you define it?Just as bounded growth in biology follows from the sublinear scaling of metabolic rate, the superlinear scaling of wealth creation and innovation (as measured by patent production, for example) leads to unbounded, often faster-than-exponential growth consistent with open-ended economies. This is satisfyingly consistent, but there's a big catch, which goes under the forbidding technical name of afinite time singularity In a nutshell, the problem is that the theory also predicts that unbounded growth cannot be sustained without having either infinite resources or inducing major paradigm shifts that "reset" the clock before potential collapse occurs...
...Theory dictates that such discoveries must occur at an increasingly accelerated pace; the time between successive innovations must systematically and inextricably get shorter and shorter...
...Independent of how superbly innovative we are, ultimately everything is driven and processed by the use of energy, and the processing of energy has inevitable deleterious consequences.
-"Scale" - Geoffrey West