Are we in a bubble? Tech predictions from the VC world.
- Five years ago Nokia and Rim could have bought companies that would have staved off their current problems. Today it's probably too late, and at the time they might have been criticized for paying too much.
- What is the nature of technology? Venture capitalist Peter Thiel argues Twitter, no, Man on the Moon, yes. But Twitter has more impact. "I'd much rather have Twitter than the moon landing," Andreessen said.
- It's not how much money the small company makes that matters, it's how much the large company could make by acquiring the small company.
- Through acquisitions big companies can figure out what things are going to work and what aren't in a Darwinian way. Venture capital experiments, and helps weed and prune.
- "This is the weirdest bubble I have ever seen." Everyone hating everything in the public markets. It's very hard to invest in growth in the public market.
- The smartphone revolution has been under hyped: "More people have smartphones now than have access to running water." Andreessen predicts that the consumer electronics industry is going to move back to the United States in a counter trend, and that will be positive for the American economy.