Any given innovation is much more likely to fail than to succeed. Innovation as a whole may even be unprofitable for the innovators. Fortunately, we keep doing it, because in economic terms, innovations are durable (they last forever) and non-rivalrous (anybody can use them), so over the long term, society benefits a lot from the successful innovations. As a society, we look for ways to get around the fact that innovation is generally unprofitable. We subsidize innovation. We honor it.
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