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The Economist: Innovation Almost Dead. Perhaps Not So In Electricity

The Economist came out this week with an article concerning the slowing rate of innovation, quoting Peter Thiel, a founder of PayPal as qualifying innovation in America as somewhere between dire straits and dead.?

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Paypal Sues Google Over Allegedly Smuggled Secrets

PayPal and its parent eBay have filed a lawsuit against Google over mobile payments, in the wake of Google’s announcement Thursday of its new e-wallet services. The suit personally names two Google executives as defendants. It also names another 50 defendants as “John Does,” meaning the plaintiff doesn’t presently know their identities. (1 day ago)

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Former eBay executive Dutta passes away

Rajiv Dutta, former president of both Skype and PayPal, has passed away, Fortune has learned. He had beaten back colon cancer several years ago, but recently experienced a severe recurrence. (4 mins ago)

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Google, Apple Joust for Mobile Payments Via Android, iPhone

Google is reportedly chatting with PayPal on mobile payments for the Android Market. Apple has hired a near field communications expert, possibly prepping the iPhone to be used as a wallet. (32 mins ago)

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