Facebook is killing Silicon Valley, according to an older article by Steve Blank. The social media craze spoils investors and entrepreneurs into shooting for low hanging fruit, scorning real innovation:
If investors have a choice of investing in a blockbuster cancer drug that will pay them nothing for fifteen years or a social media application that can go big in a few years, which do you think they’re going to pick? If you’re a VC firm, you’re phasing out your life science division.
It’s sobering to realize that the disruptive _startups _in the last few years not in social media - Tesla Motors, SpaceX, Google driverless cars, Google Glasses - were the efforts of two individuals, Elon Musk, and Sebastian Thrun (with the backing of Google.) (The smartphone and tablet computer, the other two revolutionary products were created by one visionary in one extraordinary company.)
That's right. Facebook is about as innovative as your grandma's knitted socks. And a worse privacy nightmare than your entire family combined.