Why its a myth innovation is only a young persons game: Great Minds STILL DISRUPTING AFTERALL THESE YEARS Who says innovation is a young man’s game? THE MARK ZUCKERBERGS of the world haven’t cornered the market on innovation. New research suggests that middle age might be the ideal time to challenge the status quo. In fact, the average age that Nobel Prize winners and great inventors make their most notable breakthrough is 39, according to a study by Benjamin F. Jones, a professor at Kellogg School of Management. And twice as many U.S.-born tech entrepreneurs start ventures in their 50s as do those in their early 20s, according to a study by Singularity University’s Vivek Wadhwa and the Kauffman Foundation. Why are so many people trying to innovate later in life? Middle age brings confidence, experience, deeper networks, and maybe even some cash savings, says Debra Kaye, author of Red Thread Thinking. Plus, new brain research shows that the prefrontal cortex, which handles judgment and reason, doesn’t fully develop until 25. And the brain continues to produce new neurons well into old age. “If you keep using these new neurons, you can still compete with younger people,” says Kaye. Here are some innovators who hit their stride after 40.—JENNIFER ALSEVER SCIENTIST GERTRUDE B. ELION Elion developed treatments for many major diseases—including cancer, malaria, and AIDS. In 1959, at 41, she received a patent on a treatment for leukemia. She was awarded a Nobel Prize in medicine. SCALED COMPOSITES BURT RUTAN In 1984, after decades of aerospace inventions, Rutan launched the Voyager, the first plane to fly around the world without stopping, at 41. At 62, he launched the first privately funded human space flight, with the suborbital space plane SpaceShipOne. Rutan, 70, recently retired. STATESMAN BENJAMIN FRANKLIN Franklin began publishing Poor Richard’s Almanack in his 20s, but he did not invent the lightning rod until he was 41, in 1749. He signed the Declaration of Independence at 70. INVENTOR NIKOLA TESLA Tesla had a hand in many disruptive inventions, including electric motors and X-rays. One big breakthrough came in 1898, when, at 42, he demonstrated the first radio-controlled boat in New York City, helping to lay the groundwork for radio transmissions. VANGUARD GROUP JOHN BOGLE After being fired from Wellington Management in 1974, Bogle, then 45, founded the Vanguard Group. Its innovative approach to fund management saved shareholders hundreds of billions in fees and disrupted the financial industry. Bogle, 84, is now retired. WALMART SAMWALTON In 1962, after years of managing retail stores, Walton opened his first Walmart store at 44. He pioneered the big-box retail model. With his aggressive push for discounting, Walton shifted the balance of power in retailing from the manufacturer to the consumer. FORD MOTOR COMPANY HENRY FORD Ford fiddled with automobile inventions for seven years before starting Ford Motor Company in 1903. At 45, he introduced the Model T, sparking the American auto boom. He also created the first moving assembly line. CHEF JULIA CHILD Child didn’t hit her stride until 49, when she co-authored the 3-pound cookbook Mastering the Art of French Cooking, in 1961. Through the book and her cooking shows, Child introduced French culinary skills to the American masses. McDONALD’S RAY KROC The McDonald’s founder worked as a piano player and a paper-cup salesman before, at 52, he set out in 1940 to build what would become the world’s largest restaurant chain. Kroc systemized operations so that a burger in any city would taste the same. PLAYWRIGHT GEORGE BERNARD SHAW Shaw wrote his first successful work at 38 and continued to write hits well into his 60s. He later won a Nobel Prize in literature and, at 82, an Oscar. MARY KAY COSMETICS MARY KAY ASH After a decade of watching men get promoted ahead of her, this saleswoman set out, at 45, to build Mary Kay Cosmetics in 1963. Ash brought multilevel marketing into the mainstream, tapping an underemployed army of women to sell her products. APPLE STEVE JOBS Though he founded Apple at 21, Jobs launched some of his most successful products later in life—including the iPod in 2001, the iPhone in 2007, and the iPad in 2010. They fundamentally changed how people consume media and use the Internet. SIKORSKY AIRCRAFT IGOR SIKORSKY In 1942, after decades of tinkering on aviation projects, the Russian-American founder of Sikorsky Aircraft created the first modern mass-produced helicopter, the R-4, at 52. NOVELIST TONI MORRISON The American writer published her first novel at 39. In 1988, at 57, she won the Pulitzer Prize for Beloved. Morrison, who has received a Nobel Prize for her work, continues to write at 82. COMPOSER ELLIOTT COOK CARTER JR. This American, who wrote many orchestral pieces and ballets, twice won the Pulitzer Prize—in 1967, at 59, and in 1973, at 65. He also wrote more than 40 works from ages 90 to 100.
Posted on: Thu, 20 Feb 2014 19:32:30 +0000
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