Juice

Notes

Prologue

1. For a powerful correlation between invention and market performance, see “Investing in Invention Pays Off,” Technology Review, May 2004, 38. The study by CHI Research Inc. shows that the top twenty-five S&P companies with patents that are most highly cited by papers and other patents, and that yield marketable products the fastest (quick “cycletimes”), have far outperformed the S&P 500 since 1990. $1,000 invested in the S&P 500 in January 1990 was worth $4,500 in January 2004, while $1,000 invested in the 25 most “inventive” corporations was worth nearly $40,000. Correlations aren’t proof of cause and effect, and there may be counterexamples of successful companies that aren’t innovative and inventive, but these correlations ...