Contrary to popular prejudice; it seems that true in innovation happens when entrepreneurs are very scrappy, and know how to cut cost and money.

For example, reading the biography on Elon Musk by Walter Isaacson, the greatest thing that I’ve learned and gleaned is how in fact, Elon Musk is insanely scrappy, and also insanely good at cutting costs and challenging basic cost of things. For example, instead of spending $1 million in a part, for one of the SpaceX rockets, he simply gets an engineer to scrappily use a similar part either in the automotive industry or a home appliance to do it for $1000!

Therefore, I think a basic thing we could consider is that rather than always trying to get the most expensive thing for the thing, first try the cheapest solution possible, and then work our way up from there. Or if things seem too expensive, just figure out how you can build it yourself!