Jay Walker is one of America's best-known inventors and entrepreneurs and is one of a dozen or so living inventors worldwide to hold 200 patents in multiple fields.
Walker, and a team at Walker Digital, LLC, his invention laboratory, created the central ideas behind priceline.com, the groundbreaking "name-your-own-price" company for airline tickets and hotel rooms.
Walker has also created a number of other successful businesses, including New Sub Services (now named Synapse) a company he co-founded and that revolutionized the magazine subscription industry and was recently sold to AOL Time Warner for $600 million. Walker also co-founded Target Communications, a conference and publishing company which was sold to Primedia in 2000.
Mr. Walker is currently chairman of Walker Digital, LLC, a Stamford, Conn.-based laboratory that invents entirely new ways for businesses to operate and serve consumers. Walker Digital is not a consultancy, but a privately funded active research laboratory that use long-term interdisciplinary invention teams to create solutions in the same manner and style as the original Edison laboratory. Successful inventions are licensed to industry or used as the core intellectual property of innovative startups for which the laboratory provides both personnel and funding. To date, Walker Digital has invented over 600 proprietary business methods addressing dozens of significant business problems in a wide range of industries such as travel, data security, retail, automotive, restaurants, groceries, financial services, gaming and entertainment.
Walker's inventions and innovations have been widely recognized. He has twice been recognized by the editors of TIME magazine as one of the 50 most influential business leaders in the digital age. Business Week selected Jay as one of its 25 Internet pioneers most responsible for "changing the competitive landscape of almost every industry in the world." Newsweek named him as one of three executives at the forefront of the Internet commerce revolution.
Walker and his wife have two children and live in Connecticut. He holds a B.S. degree in Industrial Relations from Cornell University.
Who has the money? Well, I submit, the customer has the money. Customers have the money. The question is how can you get the customers, possibly, to give you the money. This is a bit of a chicken and egg problem. If customers have the money, but you h...(Full transcript available to logged in subscribers.).
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