osewalrus (osewalrus) wrote,

Why Innovation Is Moving To India And Out of the U.S.

Friedman writes this piece on how Indian entrepreneurs came up with a whole new business where they convert Kiosks into bank branches for micro transactions using cell phones.

In the U.S., we could not do this because the incumbents would not permit leverage of their infrastructure in this way. No cell phone company will permit this use of text messaging. Indeed, similar proposals have been shopped to cell companies, and blocked by them, since 2007.

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