Innovation over profits: why everyone from GM to American Express is getting in on Silicon Valley
The days of “focus on what you’re good at” are behind us. It’s no longer adequate for businesses to stay isolated and let technology get built around them. They want to get involved. Starbucks, for example, is in the business of coffee, but that didn’t stop them from investing $25 million in Square, a mobile payment company. Will it help them make better coffee? No. Will it potentially improve their bottom line by streamlining the way that many customers will be able to buy their coffee at 7,000 US stores? Maybe. Partnerships and agreements are not always enough, though. In the past, there would have…