The importance of innovation can never be ignored by a manager, an organization, or a country. How does one build a sustainable competitive advantage? A subsidiary question is: how to profit from innovation? These two fundamental questions have always been core in both the research and practice of strategic and innovation management. David Teece, Tusher Professor of the Haas School of Business, University of California Berkeley, has developed rich frameworks around these two issues, contributing important thoughts and implications for both academic research and business practices. Liang Mei, of the Research Center for Technological Innovation at Tsinghua University in Beijing, was fortunate to be invited to do an interview with David, along with Prof. Henry Chesbrough, Haas School of Business, University of California Berkeley, and Prof. Chen Jin, School of Economics and Management of Tsinghua University. I thus had an opportunity to learn directly about the ideas behind the “Profiting from Innovation” model and the “Dynamic Capabilities” framework, and to ask David about his perspectives on the future of management.