The Economist’s cover story this week was called Peak Valley, it suggests that Silicon Valley’s lead as a hub for innovation has peaked and other regions are rising. It ends with the concern that innovation more broadly has peaked.
I’m curious to hear the community’s thoughts on this. Do you agree & are we going to be investing in companies that’re as straightforward as utilities providers or house builders generally are in the future? Does this mean that investing will become less risky but also, that returns will be smaller as a result?
One of Silicon Valley’s most famous VCs has written this blog post in response. I guess it’s in his interests to disagree (as he wants to attract investors to his firm, which invests in tech startups) & he does. But I think he makes some good points..
I think there’s truth in both views. It’s probably not as “hungry” as it was and is certainly pricing out true startups but innovation is still strong. It’s just more entrenched in big companies.
Most of the article’s blocked for me, so i’m probably way off topic, but it seems a bit self-centred to think the trend of innovation/technological progress that’s gone one for the last ten, twenty or hundred thousand years happens to end in our lifetime.