The X Prize shakes gives stagnant industries a shot of entrepreneurial innovation. Plus Big Thinker Peter Diamandis.
Peter Diamandis's mission is to use cash prizes to inspire innovation in industries that are happy to sit back and make money on the utterly unacceptable status quo. The original $10 million Ansari X Prize successfully inspired a non-NASA manned space flight (and will soon result in consumer space flights from Virgin Galactic), but it's the expansion of the idea into other areas that may have the greatest impact. Currently on tap is $10 million for the first team to sequence 100 human genomes in 10 days and a to-be-determined sum for a super-fuel-efficient car that will put the Prius to shame.BIG THINKER: