FastCompany Magazine

The official Tumblr of Fast Company.

"When the post-Depression years left shoppers skittish and merchants without much business, manufacturers had to innovate and devise new ways to jolt the economy back to life. And so began the beginning of an era that is still aggressively alive today: consumerism. New materials like vinyl, chrome, aluminum, and plywood excited customers again, and products became sleek and attractive in ways they hadn’t been before."  

A two-minute history of American industrial design

Does wealth lead to innovation? Our list finds that median household income doesn’t determine startup success.
Why? “There is a reasonable hypothesis that areas that are fertile for startups are fertile at a point in time, such as Detroit in the 1890s,” says Ed Glaeser, Eleanor Glimp Professor of Economics at Harvard. “Startups come, they succeed, and then it becomes progressively less friendly as the area becomes wealthier. A few dominant firms emerge and they eventually end up pushing out startups. Areas then have to find a way to reinvent themselves.”

Does wealth lead to innovation? Our list finds that median household income doesn’t determine startup success.

Why? “There is a reasonable hypothesis that areas that are fertile for startups are fertile at a point in time, such as Detroit in the 1890s,” says Ed Glaeser, Eleanor Glimp Professor of Economics at Harvard. “Startups come, they succeed, and then it becomes progressively less friendly as the area becomes wealthier. A few dominant firms emerge and they eventually end up pushing out startups. Areas then have to find a way to reinvent themselves.”