- link Copy URL - [ Share on X ](https://twitter.com/intent/tweet?text=Michael Bloomberg: Cities Drive Innovation https://www.3blmedia.com/markdownify/node/53436?absolute=1&via=3blnews "Share on X") - [ Share on linkedin ](https://www.linkedin.com/shareArticle?mini=true&url=https://www.3blmedia.com/markdownify/node/53436?absolute=1 "Share on Linkedin") - [ Share on facebook ](https://www.facebook.com/sharer/sharer.php?u=https://www.3blmedia.com/markdownify/node/53436?absolute=1 "Share on Facebook") - [ email Share via email ](mailto:?subject=Michael Bloomberg: Cities Drive Innovation&body=ESG News from Bloomberg https://www.3blmedia.com/markdownify/node/53436?absolute=1 "Share via email") [Philanthropy](/categories/philanthropy) # Michael Bloomberg: Cities Drive Innovation ##### By Michael Bloomberg Dec 16, 2014 11:15 AM ET Campaign: [Bloomberg: Philanthropy & Engagement](/news/campaign/bloomberg-philanthropy-engagement) ![](https://3blcdn.com/styles/carousel_2x/s3/2026-08/rahm_1786917873.jpg "Michael Bloomberg, left, with Chicago Mayor Rahm Emanuel, one of the first five recipients of a Bloomberg Philanthropies grant.") Michael Bloomberg, left, with Chicago Mayor Rahm Emanuel, one of the first five recipients of a Bloomberg Philanthropies grant. [Originally posted on CNNMoney](http://money.cnn.com/2014/12/15/news/economy/michael-bloomberg-innovation/) Albert Einstein once said that if he was given an hour to solve a problem, he'd spend the first 55 minutes thinking about it and five minutes coming up with solutions. But in government, there is a tendency to reach immediately for the first available solution, without spending any time thinking about different ways to approach the problem. It's understandable, because there is enormous public pressure do something -- anything -- quickly. But very often, that leads to throwing good money after bad -- and watching old problems get worse. That's standard operating procedure in Washington, but mayors around the country are increasingly starting to challenge it. More and more cities are becoming engines of policy innovation, searching for bold new solutions to tough problems that Washington has failed to address. Coming up with innovative new ideas requires creative thinking based on rigorous data analysis. And then, once the best ideas are selected, the hard work begins -- implementing them. **View the rest of the article at [CNN Money](http://cnnmon.ie/1suYgjW)** *Michael R. Bloomberg*, the former mayor of New York City, is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News. He is the UN secretary-general’s special envoy for cities and climate change. *Bloomberg*, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real time financial information to more than 315,000 subscribers globally. For more information, visit [www.bloomberg.com](http://www.bloomberg.com/). ### Additional Media #### Images [ ![](https://3blcdn.com/styles/carousel_thumbnail_x2/s3/images/citylab.jpg?h=d7ca6f3c) Michael Bloomberg in conversation at CityLab 2014 in Los Angeles. ](https://3blcdn.com/images/citylab.jpg "Michael Bloomberg in conversation at CityLab 2014 in Los Angeles.") 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