Cohen: Regulated corporations fail when building non-core technology internally
Stephanie Cohen · a16z Podcast | M&A and Innovation, Inside Out · Jan 2, 2019 · at 20:50
Stephanie Cohen, Chief Strategy Officer at Goldman Sachs, explains why large incumbent corporations must partner with the venture community rather than attempt internal innovation for non-core capabilities.
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“I think companies get in trouble when they try to do things That should happen externally, internally. And what I mean by that is I think there are certain types of talent that have no desire to work inside an organization that has 40,000 people, that's highly regulated and is publicly traded. And so we need to harness those skills and that intellectual capital, and then we're not going to harness it inside. And those types of things have to happen outside, and which is why we need to partner with The venture community with accelerators, with incubators, but we shouldn't be doing that stuff ourselves.”
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