Bubble or not, it’s happening for a few years now. A new cycle of tech entrepreneurs is starting to emerge along with their companies.
As Chris Dixon put it here:
Most of the successful startups in the 90s built core infrastructure (e.g. optical switching) whereas most of the successful startups since then built applications on top of that infrastructure (e.g. search). The next phase should see startups higher in the stack. According to historical patterns, these would be ones that require deeper cultural change or deeper integration into existing industries.
That’s a hell of an opportunity. It’s happening right now and there’s no one else but us to take advantage. I’m pretty sure that every tech entrepreneur between 15 and 30(including myself) is or will be breathing it in the years to come. We’re no longer similar to our peers that invest in us. What lies in front of ourselves, is way bigger. We’re living a time where people with the right attitude start innovating at levels that weren’t possible before.
I am proud to be part of this and you should be too. There’s a long road ahead and it’s more than exciting.
But being excited and part of the wave isn’t enough. Here’s two other things to consider, that have fundamentally changed:
1. Difficulty level. It’s way harder to do it even though more and more people take their chances at it
”While it’s easier than ever to draw an idea on the back of the napkin, build a prototype or create a small business on the side, it’s still hard to quit your day job and commit “all in.”” via Steve Blank
You’re most likely today to build a company in an industry that’s being disrupted as we speak. Economy, our society and just about all our institutions are going through major structural changes. You see 1 man educating millions, a kid diagnosing cancer, devices studying our behavior, connected objects that help during everyday life, personalized data driven health and medicine, genomic sequencing that costs under $200. Chase it, but bear in mind that it won’t happen over night and it won’t be easy.
2. Required skill set. It takes new skills and patience to “connect the dots”
Learning curves are also changing . Age, social status or background are no longer that relevant for you to be able to prove something. In many cases school is useless too. It’s easier than ever to acquire new technical skill sets. But, in this fast paced multitasking world, there are a harder to get, whole new set of qualities you need: emotional intelligence, the ability to listen or the ability to focus on only one thing for a long sustained period of time. For those who have them, the opportunities are endless. Only for those.
Don’t think that people succeed only because of luck :). It’s work, hustle and intuition that gets you “at the right place and at the right time”.