

PayPal Founders: Innovation is Dead - coleb
http://www.forbes.com/sites/nicoleperlroth/2011/09/12/paypal-founders-innovation-is-dead/

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sandroyong
Total hypocrisy. Given what they have accomplished and their road to where
they are today, you would think that they would spearhead such ventures, but
when you have made your $$$$’s, it’s a comfortable place to be.

But let’s explore their observation that "real, deep innovation is not taking
place in today’s market" (from techcrunch article;
[http://techcrunch.com/2011/09/12/max-levchin-and-peter-
thiel...](http://techcrunch.com/2011/09/12/max-levchin-and-peter-thiel-
innovation-in-the-world-today-is-between-dire-straits-and-dead/)). This has
some truth in it, especially when you consider that many tech startups in the
last 5 years have been a ‘mish-mash’ of other companies from the past (do I
really need more photosharing apps?) Today’s startups are really not tackling
world-changing problems - so my question is, "Why?" I came up with three
general reasons: 1) people are not thinking outside the box - rather than
coming up with a new security patch, why not ask yourself, "why did we start
using patches in the first place"; 2) Levchin touched upon it in the article,
"the overall risk-taking culture has declined" - Nobel laureate, Barry
Marshall ingested H. Pylori himself to prove that ulcers were caused by
bacteria; we lack risk takers in tech; and finally (coming back full circle on
this ‘hypocrisy’) 3) GREED. Many startups focus on making $ and once they make
their $$$, many (not all) do not put $ back into disruptive research - some
put more $$ into other ‘mish-mash’ startups to make more $$$ (right, Levchin
and Thiel?). Compare a democratic country like the US - lots of innovationn.
And now compare China - not so much innovation, but they sure are making a lot
of $$$ (solar panels, anyone?). We’re good at putting a man on the moon, but
that’s not going to make us $$$. Today, it’s all about making $ and that’s
what’s stifling innovation.

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coleb
@Sandroyong I totally agree on these points. Would you mind posting your
comment here? It'd be great for readers to see this.
[http://www.forbes.com/sites/nicoleperlroth/2011/09/12/paypal...](http://www.forbes.com/sites/nicoleperlroth/2011/09/12/paypal-
founders-innovation-is-dead/)

