Last January I wrote about how trivial so-called innovation has become citing comments from Matt Rosoff, Peter Thiel and a study from Accenture.
More recently, RMT (Riva-Melissa Tez,CEO @ Permutation AI and an active investor) wrote a superb post on Medium noting that Silicon Valley has lost its perspective on the difference between a ‘problem’ and an ‘obstacle’
— any obstacle that restricts our standard of living — is now framed as a problem. (…) Recognizing these obstacles or inconveniences and being able to avoid them are privileges — a special right enjoyed as a result of one’s socioeconomic position. They are perks…
Or, as one commenter called them, “problems of privilege.“
It’s not that the multiple on demand services that eliminate these obstacles or the apps and games that entertain us are bad.
But they will only change the world of the relatively few who can afford them and pitching them as such is, simply put, a lie.
Most of SV has made its success from vertical approaches to issues with little complexity. The few SV approaches to humanitarian causes are failing badly for repeating that simplicity.
Starting a company that is a solid, sustainable, revenue-producing business, even one that won’t change the world, but that rewards its investors, will always be funded.
So, if that is what your startup is, then say so.
Not just to your investors, but also to your team.
It’s called “honesty”
Flickr image credit: BK