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Cutting edge vs. bleeding edge

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Bleeding edge is more advanced and pioneer than cutting edge. It has higher risk because of unproven nature of an innovation and the unreliability of a new technology. 

 An analogy is that the tip of a knife is the bleeding edge and the blade of a knife is the cutting edge. The tip pierces and breaks through. The cutting edge is the part of the knife that does most of the work. Innovation is not about the cutting edge. It is about the bleeding edge, where boundary has not yet been broken.
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