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Companies like Chemdex, E-Steel and DirectAg.com achieved success in their respective industries, offering a promising model that might be duplicated in other markets.
For Sun, a computer maker and software company that has been struggling along with the dot-com and telecommunications industries, offering an inexpensive alternative to Microsoft's products is an effort to find new customers.
Even more important, the lucky fools create huge spillover benefits for society: new sources of wealth, new jobs, new industries offering less-risky opportunities, new technologies that improve life.
This philosophy is common to all high-hazard industries, offering the potential for sharing approaches, experience, and lessons learned.
A similar situation is noted in many developing countries; experts recommend them not to waste public resources supporting domestic producers in GVCs but invest in other industries offering opportunities to secure higher economic rent (Humphrey et al. 2000).
Boeing and SkyHook plan to target the logging, mining and energy industries, offering a way to be greener by reducing their need to build roads in isolated areas.
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Competition is a good thing for this industry, offering choice is a good thing.
The S.E.C. also approved a definition for the venture capital industry, offering those entities relief from some reporting requirements.
But the Tonys are also a valuable marketing tool for the industry, offering a televised platform for producers to promote their shows nationwide.
What unites the two cases is that they are part of a fantasy industry, offering escape routes from reality that prove less safe than advertised.
Fuel-cell vehicles have been a sort of holy grail of the auto industry, offering the promise of driving without emitting air-polluting exhaust.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com