~ Umair Haque (via catbird)Today’s economy needs deep, foundational reinvention. Venture investors - especially the top tier - should be focusing on vastly more meaningful and powerful ideas than “monetizing” social nets with virtual designer sunglasses.
We can’t reinvent the economy without, well, investing in reinventing the economy. So here’s a distinction you might want to draw. VC 1.0: “monetizing”, aka selling the same old mass-produced junk to tuned-out “consumers”. VC 2.0: seeding better economies, industries, and markets for a 21st century bereft of value creation, aka radical structural transformation.