Steve Eisman Quotes
The world needs more standardization, less innovation.
Eisman, Steve. Interview. CNBC, NBCUniversal, 2017.
He was referring to the institutions in the particular fields. An established institution in education like a university might develop an innovation in astronomy or language translation, but not likely develop significant innovations in education. An established computer programming company might innovate the method of warehousing and shipping merchandise, but they are not likely to develop an innovative way of computer programming. That is typically done by a programming non-established firm or individual. There are a number of exceptions and this is not put forth as a general principle, but as a statistical observation. Established institutions are working harder and smarter to find ways of innovating regularly, and may succeed more frequently than the present.
The impication is that small changes are just as hard often and might be easier than large changes.
Steven Eisman is an American businessman and investor known for having shorted collateralized debt obligations (CDOs), thereby profiting from the collapse of the US housing bubble in 2007–2008.