There’s a growing amount of evidence that venture capitalists in Silicon Valley are suffering from tunnel vision; that is according to a recent post in The Atlantic. The problem? When it comes to ideas in the social space, it seems there is plenty of money to throw around. But if your start-up needs more than just a couple of engineers working from a shared loft in downtown San Francisco, the available capital may be scarce– as it was for Kiva, a warehouse robotics company that could transform logistics.
Facebook, Instagram, iPad apps, and other software are all fine products, but where is the disruptive, game changing innovation that will carry the United States forward in a dramatic fashion, much like the space program did in the 1960s? Max Levchin, cofounder of PayPal, sees the scarcity of innovation and feels the problem is a lack of leadership.