Promising startups often fail despite following best practices, while rule-breakers and those running through chaos can achieve massive success. Why? Mike Maples Jr, Founding Partner at Floodgate, tackles this paradox in his book "Pattern Breakers." We discuss his Inflection Theory, why some pivots work and others don't, unexpected inspirations like Lord of the Rings, and explore the nature of breakthrough innovation and startups.
Episode Highlights
- The genesis of Mike Maples' new book "Pattern Breakers" originated from his realization that over 80% of his exit profits came from startups that had pivoted significantly from their original ideas, leading him down the rabbit hole of why.
- Business is never a fair fight, and the key is deciding who gets to fight unfair; startups create value by changing the subject and denying the premise of existing rules.
- Inflection theory shows how breakthrough startups harness powerful technological or societal inflection points, combine them with founders' non-obvious insights, and then build movements around new ideas that fundamentally change how things are done.
- Living in the future to develop non-obvious insights is crucial for breakthrough startups, and founder-future fit is key to understanding what makes the right team that can turn that future vision into reality.
- What's Next?
- "I like to ask myself is in what world will certain types of cognition become asymptotically free and where, how will that shift power dynamics?... My instinct is it won't be the same way that the big companies of today monetize it. And my instinct is that an era of mass cognition will shift the balance of power in some very profound ways."
What is Austin Next?
Austin's transformation into a global innovation powerhouse is at the heart of Austin Next. We explore insights into the region's evolution and the building of robust ecosystems. Additionally, we delve into the potential impact of emerging trends, technologies, and their convergence.
Austin, as our real-world case study, helps us aspire to better comprehend the true nature of innovation.