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February 13, 2014 05:18 am GMT
Venture capitalistMarc Andreessen, Palantir co-founderJoe Lonsdale and Goldman Sachs COOGary Cohnsat down today at the Goldman Sachs conference in San Francisco, to talk about the thing investors always talk about: Tech. The Netscape founder, taking the same stance he’s had for years, was ever the ebullient optimist. (Because what else are VCs paid to do?) He argued that advances in mobile and chip-making technology signaled exponential expansion of the market. He said tech isn’t overhyped and could have “decades” of growth ahead of it. Echoing economist Carlota Perez’s research, he said world-changing technologies like the web usually settle into a more mature deployment phase after aninitial period of hype and investor frenzy. Andreessen was hopeful about how the Internet of Things could transform the way people live, and credited Moore’s law with the potential to put a chip in everything: “What if we chipped every kid? What if we chipped every dog?” Both Andreessen and Lonsdale said this Cambrian explosion of software and hardware companies like Anki and Oculus VR (both A16z investments) is a boon for big data and security startups. Andreessen was basically repeating his famous argument that “Software is eating the world.” So Cohn took a moment to remind him that the financial-services industry was the only thing that Andreessen said software couldn’t eat. Cohn asked if Andreessen has reevaluated his stance, because the investor’s new pet technology is Bitcoin. Cohn said the crypto-currency was like “a pure attempt for software to eat the financial services industry.” Andreessen is famously bullish on Bitcoin. “I would not encourage your grandmother to put her life savings in it,” he said. “ [But] every single smart computer science person I’ve had look into it has reached the same conclusion — it’s a fundamental breakthrough in technology.” He gushed: “For the first 20 years of the internet, you couldn’t do this Bitcoin is the first Internet native approach of dealing with money. He said that corrupt governments and flimsy central banking systems would be Bitcoin’s true test. “The prospect of a new technology is a big deal once you get out of the West,” he said. Lonsdale used Bitcoin as an example of “how industries work” and “how they should work” and views healthcare and education as some of the biggest targets for reform. “It’s very clear that all these systems that were built back in the 70s and 80s,
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/vZZDOmSOoQ4/
Marc Andreessen: Tech Is Still Recovering From A Depression
Venture capitalistMarc Andreessen, Palantir co-founderJoe Lonsdale and Goldman Sachs COOGary Cohnsat down today at the Goldman Sachs conference in San Francisco, to talk about the thing investors always talk about: Tech. The Netscape founder, taking the same stance he’s had for years, was ever the ebullient optimist. (Because what else are VCs paid to do?) He argued that advances in mobile and chip-making technology signaled exponential expansion of the market. He said tech isn’t overhyped and could have “decades” of growth ahead of it. Echoing economist Carlota Perez’s research, he said world-changing technologies like the web usually settle into a more mature deployment phase after aninitial period of hype and investor frenzy. Andreessen was hopeful about how the Internet of Things could transform the way people live, and credited Moore’s law with the potential to put a chip in everything: “What if we chipped every kid? What if we chipped every dog?” Both Andreessen and Lonsdale said this Cambrian explosion of software and hardware companies like Anki and Oculus VR (both A16z investments) is a boon for big data and security startups. Andreessen was basically repeating his famous argument that “Software is eating the world.” So Cohn took a moment to remind him that the financial-services industry was the only thing that Andreessen said software couldn’t eat. Cohn asked if Andreessen has reevaluated his stance, because the investor’s new pet technology is Bitcoin. Cohn said the crypto-currency was like “a pure attempt for software to eat the financial services industry.” Andreessen is famously bullish on Bitcoin. “I would not encourage your grandmother to put her life savings in it,” he said. “ [But] every single smart computer science person I’ve had look into it has reached the same conclusion — it’s a fundamental breakthrough in technology.” He gushed: “For the first 20 years of the internet, you couldn’t do this Bitcoin is the first Internet native approach of dealing with money. He said that corrupt governments and flimsy central banking systems would be Bitcoin’s true test. “The prospect of a new technology is a big deal once you get out of the West,” he said. Lonsdale used Bitcoin as an example of “how industries work” and “how they should work” and views healthcare and education as some of the biggest targets for reform. “It’s very clear that all these systems that were built back in the 70s and 80s,Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/vZZDOmSOoQ4/
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