Indications are he won't trot out the same tired ideas we've seen a hundred times before - the ones that liberally use words like taskforce, disruption, hub and world-class.
Turnbull has put an ambitious young minister in charge of innovation, and when that minister, Christopher Pyne, came back to him with some conservative initial ideas, Turnbull told him to go away and release his "inner revolutionary" in his innovation strategy.
When Pyne told him that would be expensive, Turnbull responded: "Let me worry about the money, you get on with the ideas."
This will clearly not be business as usual. Reports that Turnbull will appoint veteran venture capitalist Bill Ferris as his innovation Tsar are also good news. Ferris was the founder of Australia's first private equity fund and is now chairman of CHAMP private equity.
Australia has a lot of talented scientists and researchers and produces a lot of top rank research, but where we struggle is in turning that research into a commercial reality. With his vast experience in venture capital, Ferris will hopefully be able to help bridge that gap.
Ferris has long said that Australia needs to foster a greater culture of innovation, and now he's in a position to make it happen.
Christmas sales
Harvey Norman and JB Hi-Fi have had great starts to the financial year and the two electronics retailers are well poised to make the most of Christmas.
But struggling competitor Dick Smith might just ruin the party.
Unlike Harvey Norman and JB Hi-Fi, Dick Smith has had a poor start to the year and is planning deep discounts in the lead-up to Christmas.
Same-store sales (which compares like for like and strips out the effect of new store openings) at Dick Smith rose a tepid 1.3 per cent in the struggling retailer's first quarter.
By contrast JB Hi-Fi's first quarter same store sales were up a healthy 3.7 per cent and Harvey Norman's surged by 7.1 per cent.
"We're the hottest retailer in the market at the moment," said the ebullient Gerry Harvey, the chain's billionaire founder.
Customers are snapping up curved-screen TVs for up to $10,000 and spending as much as $4000 on heavy duty washing machines. (These, I have discovered, wash clothes for longer and at higher temperatures than ordinary washing machines. The strong sales suggest there are a lot of very dirty Australians with too much money out there.)
Harvey rubbishes reports that consumer sentiment is weak. "Consumer confidence at the moment is not subdued; it's the highest it's been for seven or eight years," he said.
In an effort to attract more customers to its store and drive sales, Dick Smith is promising deep discounts on Apple products, Fitbits and big screen televisions to boost foot traffic.
Its competitors will have no choice but to respond.
Consumers will be the big winners out of this, at the expense of the retailers who were looking forward to making hay if Harvey is right about consumer confidence bouncing back.
It's a shame when the free market and capitalism get in the way of profits.
More floats for 2016
Running a share registry and managing superannuation fund administration isn't the most exciting business in the world - it's basically paperwork, or its electronic equivalent.
Yet the float of the Link Group put a spark through the Australian share market last week. The A$2.3 billion ($2.4 billion) float was the biggest of the year so far and shares rose more than 10 per cent on their debut, giving the company a market capitalisation of A$2.3 billion at the end of the first day's trading.
Link offers investors exposure to Australia's growing superannuation sector, which is already worth A$2 trillion and is forecast to hit A$7 trillion by 2035.
After a couple of strong years, the number of initial public offerings has shrunk in 2015 as business owners were concerned about volatile stock markets. The Link Group success shows that quality companies can still attract a premium and should spark some interest from business owners and private equity funds to float more companies in 2016.
