The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time

If you're an entrepreneur, get this book now and read it. I’ve started nine ventures. And the venture I started and still run, X Genesis, helps entrepreneurs discover problems that can be turned into opportunities. I want everyone who goes through our 10.10.10 programs or uses our process and tools to read this book.Few entrepreneurs know how to write. Jim McKelvy is the exception. Jim’s writing is like the opening of a James Bond film. It crackles with twists and turns, near-death experiences, and “uh-oh, how’s he gonna get out of that?” moments. And Jim is hilarious, laugh-out-loud funny. When he talks about the difference between a business person (a successful person who only knows how to do what has already been done) and an entrepreneur (a wild spirit, a crazy person, a person looking for the perfect problem), he shows you the difference.While the real story here is about the Innovation Stack, Jim uses the early days of Square, the company he and Jack Dorsey founded, to illustrate the concept. So be clear, this isn’t just the story of Square. It’s about something much bigger. It’s about two things: (1) "squaring up" – creating something that has never before existed that brings fairness to a previously unfair system; and (2) the Innovation Stack, "one of the most powerful assets a company can possess" which is what makes “squaring up” a possibility.If you're looking for a way to make a lot of money by doing what other people have done, don't bother with this book. If you're looking for the perfect problem to solve, or to put an even finer point on it if you're looking to tackle the perfect problem for you, read this book. You will not be disappointed.

This reminds me of "Zero to One", but more entertaining. I loved Thiel's book and recommend both reading and owning it, but this presents a similar idea of what differentiates innovative companies in a more entertaining way that's easier to digest for most readers. It's not an origin story like Netflix co-found Marc Randolph's "That Will Never Work" either. While Square is used, it covers so much more. This is one of the best books I've read in a while in any genre.

McKelvey takes us back to the original meaning of entrepreneurship: creating something that did not exist before. Creating something that customers did not know they wanted until they saw it. Solving problems that no one else has solved. I was an early user of Square and I was delighted at how it solved the problem of selling via credit card from multiple locations. My iPhone became a point of sale machine ! This book is like a mystery novel: you unravel the mystery of innovation one chapter at a time. My copy was delivered yesterday and I couldn’t put it down. I have heavily highlighted it, always a sign that the book has engaged my intelligence and imagination.Addendum: A common element to Jim’s four case studies : prior restraint placed by governments or trade associations. Ironically, Jim’s cofounder of Square, Jack Dorsey, now actively places prior restraints on free speech on Twitter.

This book doesn't read like the average business book - it's funny and engaging. I bought it because I heard an interview with the author in a podcast. If you are curious about what it feels like to start something that has never been done before this is a great read. This is not a "how to easily create a billion dollar business" book. If that is your goal however, this book tells it like it is.

The Innovation Stack is a fun, breezing, humorous look at the founding insights behind a number of Square, IKEA, Southwest and Bank of America.Most of business is copying best practices of successful companies. The author focuses on Perfect Problems where perceived barriers prevent existing companies from serving a portion of the market. The example companies discover the barriers that previously prevented a segment of the market from being served and come up with novel solutions to overcome these barriers. These innovations create new problems, which require yet more novel solutions. The resulting problem solving process creates an Innovation Stack and allows these new companies to serve and expand a new market segment. Companies that develop an Innovation Stack are difficult to copy because incumbent firms must copy the whole stack, which is a self-Reenforcing dynamic system. Copying a single element is likely insufficient to combat a new company that has found an Innovation Stack.

As an entrepreneur, I find extreme value out of patterns. There's nothing new under the sun - only new combinations of pre-existing elements. "The Innovation Stack" starts with an engaging inside viewpoint of the story of Square. But it does much more. It looks at the principles behind their meteoric rise and then parallels it with several other historical companies to show that innovative companies are more than just a single feature. While it may be opaque in the moment, your innovation stack becomes more visible over time and this book helps to recognize and refine that. It forces you to rethink your stack from your product offerings to larger principles about the company and gives you actionable insight to do so.Jim McKelvey says stuff in a way that others have generally been nervous. He does an exceptional job clarifying what new entrepreneurs are scared of. Focus on the areas in that you're innovating in but then copy everything else. I've always loved the phrase "if you want to make apple pie from scratch, first you must create the universe" and this book exemplifies it.If you liked the classic Business Adventures by John Brooks, you'll love this.

I did a case study on Square for a tech management course and was struck at how under the radar they are and how game changing they were without much fan fair. So I bought this mainly to fill in the gaps for what I couldn't find out at the time. But it really shines as a more useful introduction to innovation, as that was something I struggled a lot with on my course. It's funny how the author describes a college professor despairing at students in his entrepreneur class because I was definitely making a lot of the same mistakes. There's a short bio on how the company started and the it dives into really useful case studies in a very understandable manner. There's quite a shocking incident towards the end of the book when the author explains why and how he started a coding initiative called Launchcode.I appreciate the honest and down to earth tone of the book in contrast to the almost gossip magazine style of writing in tech journalism these days. It was a very interesting read. Definitely recommend.

If, like me, you have been pondering taking the leap and starting your own venture, this book is incredibly inspiring. Jim shares a unique viewpoint about entrepreneurship (no not business) that has forever upgraded my mindset and settled questions for me such as "What special powers do great innovators have?" (spoiler: none). Through his wonderful stories and deep insights, Jim makes innovation accessible to all. I can't wait to find my "perfect problem" to solve.

I loved it ! The story and the facts combines very well. It’s easy to understand and makes a very good and realistic point . I recommend this book for people who want to start a business or thinking of doing that in the future. It’s motivational and realistic in the same time.

This was a gift for an avid reader business man so I'm assuming if he requested it he has heard good things

Great book!Fun and revealing, brings a great perspective for entrepreneurship.Accompanied from other innovation books, makes this a must-read on the topic.Great job!