What does "innovating" mean? We're watching a lot of the last decades empty startups fall apart at the seam. So many people have called these apps and service

What does "innovating" mean? We're watching a lot of the last decades empty startups fall apart at the seam. So many people have called these apps and services "innovation", yet they fail to solve a problem or make lives all that much easier. "innovation" seems to have become a partial synonym for "fast and loose and not that effective".