> “Today there is no patient money in Silicon Valley,” he says. “And that means that there isn’t enough time to make a similar kind of breakthrough.”
Is this true? If this is indeed true, what are the underlying factors? What does it mean "to change everything?"
One example: I suspect that lots of people fall into the trap of monetizing businesses in ways that trap them into old ways of thinking. Advertising is a prime example of this. I think advertising is obsolete. We should be using social graphs to make people more efficient at correctly judging products and extracting value from the transaction. (Amazon is doing some of this already, but the groups engaging in this are at arbitrary social distances. Make it easy for people of close social distance to collaborate, and you will have a game changer.)
Much of the social fabric of North American society has fallen apart. The kind of social capital that old communities had was powerful. Networks can be used to build this kind of social capital to great effect. (Witness the Arab Spring.) The emphasis should be on emergent trends, with some way of enabling users to efficiently filter information without deluging them.
No. But in terms of deals done it makes a much smaller percentage than the ones which expect a faster return. Any chip startup, and most hardware startups, are 'patient' money as there is a lot of R&D to pay off.
Comments
> “Today there is no patient money in Silicon Valley,” he says. “And that means that there isn’t enough time to make a similar kind of breakthrough.”
Is this true? If this is indeed true, what are the underlying factors? What does it mean "to change everything?"
One example: I suspect that lots of people fall into the trap of monetizing businesses in ways that trap them into old ways of thinking. Advertising is a prime example of this. I think advertising is obsolete. We should be using social graphs to make people more efficient at correctly judging products and extracting value from the transaction. (Amazon is doing some of this already, but the groups engaging in this are at arbitrary social distances. Make it easy for people of close social distance to collaborate, and you will have a game changer.)
Much of the social fabric of North American society has fallen apart. The kind of social capital that old communities had was powerful. Networks can be used to build this kind of social capital to great effect. (Witness the Arab Spring.) The emphasis should be on emergent trends, with some way of enabling users to efficiently filter information without deluging them.
"Is this true?"
No. But in terms of deals done it makes a much smaller percentage than the ones which expect a faster return. Any chip startup, and most hardware startups, are 'patient' money as there is a lot of R&D to pay off.