Wednesday, June 01, 2011

Atlantic City: a lesson for the patent biz?

Within an AP post Monopoly lost: Atlantic City's rise and fall , one finds a lesson on innovation, and patents. Successful established businesses tend to promote more of the same, rather than embracing new and different ideas:

Intoxicated by years of success, Atlantic City missed numerous opportunities to diversify its offerings, widen its customer base and fend off competition that clearly was on its way even 20 years ago.

"The atmosphere was a total irrational exuberance; it truly was," said Robert Griffin, CEO of Trump Entertainment Resorts, who worked at Trump properties here in the 1980s and 1990s. "There was a feeling that there was no end to the good times and that the money would never end."


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