Marissa Mayer of Google on How to Innovate through Open Culture

One of the 'million dollars questions' of companies is how to be innovative in a corporate culture. In a 2006 video of the Stanford University Entrepreneurship Corner, Marissa Mayer, Vice President of Search Products & User Experience at Google, tells the audience that if you fill a room with smart people and give them access to information, brilliant ideas will flourish, and the need for a strict management hierarchy dissolves. A platform for the free-form sharing of ideas promotes an open culture and a flat organisation. Don't credit the person behind the ideas, but the ideas themselves. Is this still valid?