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When was the last time we saw “truly” game changing tech inmovations? 2007? When the “legendary” Late Steve Jobs introduced the iPhone to the world? Or, a few years earlier, Mark Zuckerberg came up with Facebook, though it is “disputed” as far as “originality” of innovation is concerned? Maybe, the sequential “iterations” from the Google stable?
However, all these innovations were before 2010 or a few years after that. Can someone point out anything really “revolutionary” in terms of a “paradigm shift” causing technological products? Of course, we have the various app based aggregators that can be classified as “platform changers”. But, my question is anything comparable to what I mentioned earlier? NADA!
While I don’t agree with what Elon Musk says and does, his attempt to “shake up” things at Twitter is ostensibly to “drive” the “next” wave of innovation. So, maybe Musk has a point here. The tech industry focused Platformer blog reports that many Silicon Valley “insiders” admit so much when they allude to the “lost decade” of innovation and why Big Tech needs a BIG “kick in the ass” to make them come up with the next Steve Jobs.
Perhaps, Clay Christensen’s theories of innovations needs to be relearned by Silicon Valley. Or, maybe, it is time for Namma Bengaluru with its many Unicorns to rise to the occasion. Whatever it is, we “desperately ” need ONE BIG world changing innovation on the lines of the iPhone. Even the Metaverse would do, though it remains in the “head” of Zuckerberg and nothing beyond that.
For many, Crypto was the THE “thing” as far as FinTech went. However, after the FTX “debacle” and the Crypto “winter”, it doesn’t have too many backers. Of course, Blockchain can be truly “revolutionary” as a authenticator in these “trust deficit” times. But, where is the “smart” money headed? Not in any of these. Perhaps VCs need to relook at their requirements and Twenty Something’s need to rework their business plans.
It is interesting to note that the various innovations up to the year 2010 were after the “debris” of the Dotcom “bust”. Maybe the current Big Tech “meltdown” is a “blessing in disguise” that can spur the next Steve Jobs. Indeed, being a 90s kid, I remember how the “internet” was touted to change the world. It did! Though I’m not sure whether for the good, with Facebook becoming a “farce” and Twitter descending into a “hell hole” of disinformation. Even the Smartphones have become “oppressive” tools rather than “liberators” for us.
So, anyone for the challenge? I’m not a VC or an Early Stage funder, and my freelance career has benefited much from the Tech revolution. Indeed, I can proudly say that I have come so far because of the internet. Perhaps my peers in industry and finance can “pitch in” (literally and figuratively) the next “real” innovation. Until then, we would be at the “mercy” of Megalomanical Oligarchs like Elon Musk!
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