At Moneycontrol Global Wealth Summit 2025, author Morgan Housel discussed historical misconceptions about innovation, citing how many in the 1990s dismissed the Internet as a fad, similar to the Wright Brothers' doubts about aviation's commercial potential. He noted that transformative industries often fail to generate profits for investors, as 90% of companies in new sectors disappear within 10-20 years. Housel also argued that access to information is no longer a major advantage; instead, disciplined behaviour determines success. He emphasised the power of ordinary individuals striving for incremental progress, calling them his true heroes.
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