I was joined on this week’s show by Steve Monaghan, the General Partner at FinMirai. Steve is also a Limited Partner and investment committee member in True Global Ventures, Vice Chairman of Borderless Healthcare Mobile China, Vice Chairman of the HK Israel Trade Association, a Board Member of Pulse Global and a private investor in Artificial Intelligence, Life Sciences, Healthtech and FinTech.
Originally a commercial pilot, Steve has held senior corporate and banking roles in product, marketing, operations, innovation and general management. He has worked for leading corporations and financial institutions including Dell, Compaq, Citigroup, OCBC, Shinsei, DBS Bank and AIA. Throughout his career, Steve has specialized in introducing new business models, businesses and products in all major markets in Asia and has filed 6 patents in FinTech.
Steve has many interesting theories, but most interesting to me is his application of the laws of physics to building organizations and organizational change, or innovation. In summary, it goes something like this:
1) For every action, there is going to be an equal and opposite reaction. (This basically means that change is going to be opposed.) AND everybody knows this but it is never stated as an expectation.
2) The Law of Inertia – An object will continue in the same trajectory with the same velocity unless an external force is applied. This informs how much force is necessary to change how big organizations can be changed…with the understanding that most successful innovations usually occur externally to the main organization.
3) Force = Mass * Acceleration. In the corporate context, force is capital and people. Mass is the size and complexity of your organization, your partners and stakeholders. Acceleration is growth or alpha.
Listen to this and the rest of our amazing conversation.