While innovation may not be an innovative concept, it is taking on a new avatar. The present one seeks to displace current markets and value chains by newer systems. 3 firms have successfully implemented their own model while displacing earlier ones. They are – Uber, Xiaomi and The Lending Club. Uber has transformed the taxi service industry so much that demand for traditional ones has reduced by two thirds. They do not have full time cab drivers, instead use private drivers who are crowd sourced through mobile and internet apps. The Lending Club emerged from the ashes of the Recession when public trust on banks was at an all-time low. Their model cut out the bankers as middle men while facilitating lenders and borrowers alike. Xiaomi is the newest of the lot and in only 3 years has outstripped many traditional big players. They are now diversifying into digital tracking devices and online video content.  

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