Total hypocrisy. Given what they have accomplished and their road to where they are today, you would think that they would spearhead such ventures, but when you have made your $$$$’s, it’s a comfortable place to be.
But let’s explore their observation that "real, deep innovation is not taking place in today’s market" (from techcrunch article; http://techcrunch.com/2011/09/12/max-levchin-and-peter-thiel...). This has some truth in it, especially when you consider that many tech startups in the last 5 years have been a ‘mish-mash’ of other companies from the past (do I really need more photosharing apps?) Today’s startups are really not tackling world-changing problems - so my question is, "Why?" I came up with three general reasons: 1) people are not thinking outside the box - rather than coming up with a new security patch, why not ask yourself, "why did we start using patches in the first place"; 2) Levchin touched upon it in the article, "the overall risk-taking culture has declined" - Nobel laureate, Barry Marshall ingested H. Pylori himself to prove that ulcers were caused by bacteria; we lack risk takers in tech; and finally (coming back full circle on this ‘hypocrisy’) 3) GREED. Many startups focus on making $ and once they make their $$$, many (not all) do not put $ back into disruptive research - some put more $$ into other ‘mish-mash’ startups to make more $$$ (right, Levchin and Thiel?). Compare a democratic country like the US - lots of innovationn. And now compare China - not so much innovation, but they sure are making a lot of $$$ (solar panels, anyone?). We’re good at putting a man on the moon, but that’s not going to make us $$$. Today, it’s all about making $ and that’s what’s stifling innovation.
3 comments
[ 4.5 ms ] story [ 14.6 ms ] threadBut let’s explore their observation that "real, deep innovation is not taking place in today’s market" (from techcrunch article; http://techcrunch.com/2011/09/12/max-levchin-and-peter-thiel...). This has some truth in it, especially when you consider that many tech startups in the last 5 years have been a ‘mish-mash’ of other companies from the past (do I really need more photosharing apps?) Today’s startups are really not tackling world-changing problems - so my question is, "Why?" I came up with three general reasons: 1) people are not thinking outside the box - rather than coming up with a new security patch, why not ask yourself, "why did we start using patches in the first place"; 2) Levchin touched upon it in the article, "the overall risk-taking culture has declined" - Nobel laureate, Barry Marshall ingested H. Pylori himself to prove that ulcers were caused by bacteria; we lack risk takers in tech; and finally (coming back full circle on this ‘hypocrisy’) 3) GREED. Many startups focus on making $ and once they make their $$$, many (not all) do not put $ back into disruptive research - some put more $$ into other ‘mish-mash’ startups to make more $$$ (right, Levchin and Thiel?). Compare a democratic country like the US - lots of innovationn. And now compare China - not so much innovation, but they sure are making a lot of $$$ (solar panels, anyone?). We’re good at putting a man on the moon, but that’s not going to make us $$$. Today, it’s all about making $ and that’s what’s stifling innovation.