Thus began a process of constant iteration, where each version of the product saw the product getting simpler and more applicable to a broader section of the population.

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Failure is a necessary part of the innovation process because from failure comes learning, iteration, adaptation, and the building of new conceptual and physical models through an iterative learning process.

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What is certain is that only a few Romney hands know the details of the vice presidential selection process, making this year's iteration of the "veepstakes" -- a quadrennial feeding-frenzy of gossip and often ill-informed speculation -- one of the most secretive and leak-free endeavors in recent memory.

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It is just very difficult to create disruptive innovation unless you have constant iteration and the reality is, proximity drives that iterative process.

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