There has been a great deal of talk about financial innovation and whether all innovation must tangibly benefit society. I'm doubtful on that criterion, as I think that so long as society isn't negatively affected by that innovation, but someone finds it useful, then its okay with me. Meanwhile, I concede that it's ideal when innovation does clearly benefit society. Although it's not related to finance, in perusing Andrew Sullivan's blog earlier, he notes a new product that fits this lofty archetype perfectly. In Great Britain, a new lip gloss is being sold that contains a date rape drug detection kit. Sullivan calls it "genius," and I agree.
Here's some detail from he original article he refers to:
A lip gloss that comes with a date rape drug testing kit has been launched in the UK with plans to make it available in vending machines in bar and club toilets.
The five 2LoveMyLips gloss products contain a drug testing kit in the form of a pink taper that can detect GHB and Ketamine.
Managing director of the company 2LoveMy, Tracy Whittaker, explained that girls on a night out with suspicions about their drink can just dab the taper in, and watch to see if the colour changes to blue.
Such a brilliant invention that helps to prevent violence against women brings innovation to the next level. And if the company that invented it makes millions with the sale of this lip gloss, all the better.