The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time

If you're an entrepreneur, get this book now and read it. I’ve started nine ventures. And the venture I started and still run, X Genesis, helps entrepreneurs discover problems that can be turned into opportunities. I want everyone who goes through our 10.10.10 programs or uses our process and tools to read this book.Few entrepreneurs know how to write. Jim McKelvy is the exception. Jim’s writing is like the opening of a James Bond film. It crackles with twists and turns, near-death experiences, and “uh-oh, how’s he gonna get out of that?” moments. And Jim is hilarious, laugh-out-loud funny. When he talks about the difference between a business person (a successful person who only knows how to do what has already been done) and an entrepreneur (a wild spirit, a crazy person, a person looking for the perfect problem), he shows you the difference.While the real story here is about the Innovation Stack, Jim uses the early days of Square, the company he and Jack Dorsey founded, to illustrate the concept. So be clear, this isn’t just the story of Square. It’s about something much bigger. It’s about two things: (1) "squaring up" – creating something that has never before existed that brings fairness to a previously unfair system; and (2) the Innovation Stack, "one of the most powerful assets a company can possess" which is what makes “squaring up” a possibility.If you're looking for a way to make a lot of money by doing what other people have done, don't bother with this book. If you're looking for the perfect problem to solve, or to put an even finer point on it if you're looking to tackle the perfect problem for you, read this book. You will not be disappointed.

I ordered this book as soon as I heard Jim had written it. Being familiar with him, the Square story, and how hard he is working to solve important problems, I knew it would be a terrific read.It exceeded my expectations.Jim’s writing style is fluid and he wraps enough humor throughout the book that it makes you feel like you are visiting with an old friend. The story telling is top-notch, engaging you in the journey of bringing Square from a concept to a proven industry innovator and leader.Filled with anecdotes, references and some unforgettable characters like Herb Kelleher and A.P Giannini, The Innovation Stack builds upon itself much like how Jim challenges you to construct your business idea to solve problems.The world needs innovation and entrepreneurs now more than ever. Reading this book truly inspired me. I keep it at my desk to reference often to share quotes and be reminded of Jim’s perspective.I even shared this with my father, who is not a businessman or a tech guy. He loved it and couldn’t put it down.Highly recommended and I feel smarter having read it. Well done, Jim.

As an entrepreneur, I find extreme value out of patterns. There's nothing new under the sun - only new combinations of pre-existing elements. "The Innovation Stack" starts with an engaging inside viewpoint of the story of Square. But it does much more. It looks at the principles behind their meteoric rise and then parallels it with several other historical companies to show that innovative companies are more than just a single feature. While it may be opaque in the moment, your innovation stack becomes more visible over time and this book helps to recognize and refine that. It forces you to rethink your stack from your product offerings to larger principles about the company and gives you actionable insight to do so.Jim McKelvey says stuff in a way that others have generally been nervous. He does an exceptional job clarifying what new entrepreneurs are scared of. Focus on the areas in that you're innovating in but then copy everything else. I've always loved the phrase "if you want to make apple pie from scratch, first you must create the universe" and this book exemplifies it.If you liked the classic Business Adventures by John Brooks, you'll love this.

More than relevant lessons for any founder, it's an awesome read. This is not your average business book. It's peppered with narratives that paint vivid pictures of the creativity and perseverance required to build a real company.

I found this book entertaining and illuminating. He author has an interesting background and confounded Square: the stories behind Square are interesting by themselves, but he also describes his innovation stack mindset, that I found novel.I recommend this book to hose interested in the payments/fintech space but also for those interested in following the entrepreneur path

McKelvey takes us back to the original meaning of entrepreneurship: creating something that did not exist before. Creating something that customers did not know they wanted until they saw it. Solving problems that no one else has solved. I was an early user of Square and I was delighted at how it solved the problem of selling via credit card from multiple locations. My iPhone became a point of sale machine ! This book is like a mystery novel: you unravel the mystery of innovation one chapter at a time. My copy was delivered yesterday and I couldn’t put it down. I have heavily highlighted it, always a sign that the book has engaged my intelligence and imagination.Addendum: A common element to Jim’s four case studies : prior restraint placed by governments or trade associations. Ironically, Jim’s cofounder of Square, Jack Dorsey, now actively places prior restraints on free speech on Twitter.

I did a case study on Square for a tech management course and was struck at how under the radar they are and how game changing they were without much fan fair. So I bought this mainly to fill in the gaps for what I couldn't find out at the time. But it really shines as a more useful introduction to innovation, as that was something I struggled a lot with on my course. It's funny how the author describes a college professor despairing at students in his entrepreneur class because I was definitely making a lot of the same mistakes. There's a short bio on how the company started and the it dives into really useful case studies in a very understandable manner. There's quite a shocking incident towards the end of the book when the author explains why and how he started a coding initiative called Launchcode.I appreciate the honest and down to earth tone of the book in contrast to the almost gossip magazine style of writing in tech journalism these days. It was a very interesting read. Definitely recommend.

I loved it ! The story and the facts combines very well. It’s easy to understand and makes a very good and realistic point . I recommend this book for people who want to start a business or thinking of doing that in the future. It’s motivational and realistic in the same time.

If, like me, you have been pondering taking the leap and starting your own venture, this book is incredibly inspiring. Jim shares a unique viewpoint about entrepreneurship (no not business) that has forever upgraded my mindset and settled questions for me such as "What special powers do great innovators have?" (spoiler: none). Through his wonderful stories and deep insights, Jim makes innovation accessible to all. I can't wait to find my "perfect problem" to solve.

If there could be a trilogy of books on entrepreneurship, similar to the Lord of the Rings, I would place Zero to One, The Lean Startup, and The Innovation Stack in that list. Where Zero to One starts about the process of getting into the startup culture and The Lean Startup on the processes to manage your entrepreneurial idea, The Innovation Stack focuses on understanding the reasons or rationale for the success of the startupAcross 18 exciting chapters, Jim McKelvey takes us along on his journey, along with Jack Dorsey on creation of Square - the writing is both explosive and internalizing at the same time. The author's humility and vulnerability shine throughout the pages - there's no great joy at defeating Amazon in the payment's game, nor any chest beating - simply, a subtle thought on how Square could've possible defeated the behemoth that Amazon isWhile trying to understand the potential reasons Square's innovation stack caused Amazon to exit the market, the author's research into 4 similar paradigm-changing personalities are described in great detail. The journey of Christopher Columbus, A.P. Giannini of Bank of America, Herb Kelleher of Southwest airlines, IKEA's Kamprad are detailed in an interesting manner by the authorThe author concludes the last of the chapters under "Innovation physics" heading, dwelling on some of the often-quoted success factors for a startup and the culture thereof. Even when talking about the theory, the author's down-to-earth attitude and unassuming character traits come to the fore - which makes it easier to read (an otherwise unbelievable story of how a startup SQUARED UP against the biggest behemoth on earth currently!)For anyone interested in the innovation/startup culture, The Innovation Stack is a must-read and I hope you love reading the book as much as I did. A huge thanks to Jim McKelvey for the book - one that I am sure I will read many times again!

James McKelvey is a serial entrepreneur, inventor, philanthropist and artist.He is the cofounder of Square, was chairman of its board until 2010, and still serves on the Board of Directors. In 2011, his iconic card reader design was displayed at the Museum of Modern Art.In 2016, McKelvey founded Invisibly, an ambitious project to rewire the economics of online content.In 2017, he was appointed as an Independent Director of the St. Louis Federal Reserve.Why you should read this book?The Innovation Stack is a deeply useful book about the characteristics of successful companies and how and why to build one, complete with inspiring case studies that literally span centuries.How did Square beat the most dangerous company on the planet? Was it just luck? These questions motivated McKelvey to study what Square had done differently from all the other companies Amazon had killed. He eventually found the key: a strategy he calls the Innovation Stack.