The United States of Amazon and Its Flywheel Economy

By • on July 27, 2020

The BBN Times website noted that Tech Giants include Apple Facebook, and Google … but Amazon’s unique flywheel makes it the torchbearer. AWS alone is on track to be worth $1 trillion. The Amazon flywheel fuels a circular, data-driven ecosystem that’s bolstered by Open Innovation. Amazon is an active Open Innovation practitioner. As part of that, Amazons invests in startups. Its investments hint toward future plans. As a practitioner of Open Innovation, Amazon looks to all corners of the globe. To compete in today’s increasingly connected world, mid- to large-size organizations need to leverage Open Innovation. As the World Economic Forum wrote recently: “In a more connected world, open innovation offers opportunities to reduce research costs, spread risks and bring innovations to market more quickly.”

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