Welcome to the zombieconomy — where things happen backwards. Case in point: today's best example of how not to manage innovation comes from those who should be masters of radical innovation: venture investors.
The venture industry is in crisis because of an ongoing inability to grow and nurture meaningful innovation. I've come across many examples recently — a tweet from an investor asking "where is Twitter's ROI?", or sessions I've run where investors have focused on business models, while failing to build a fuller strategic understanding.
Let's use Jeremy Liew's recent analysis — a fun read — of Apple's iPhone Apps Store to outline how not to manage innovation.