[willholloway]

The train, the automobile, and the microprocessor were all harbingers of exponentially increasing wealth and opportunity. Each technology lowered the cost of starting and running businesses, as well as giant ancillary businesses and markets.

The microprocessor preceded the gold rush we're eulogizing here.

They all spawned brand new ecosystems that created entirely new opportunities for entrepreneurs to create wealth. The train even unified some nation states that didn't exist.

[lkrubner]

It's possible that you did not understand the original article. Or perhaps you did not read it. When you write:

"Each technology lowered the cost of starting and running businesses"

No, not in those industries. When an industry consolidates, the cost of the starting a new business in that industry skyrockets. Eventually it becomes impossible to start a new company in that industry. That clearly happened for trains and automobiles, microprocessors, and certainly now for Internet companies.

This is a pat re-statement of a tired cliche:

"They all spawned brand new ecosystems that created entirely new opportunities for entrepreneurs to create wealth."

There will probably be economic growth in the future. I mentioned one obvious industry that is still forming: genetic engineering. That doesn't change the fact that the gold rush has come to an end for Internet startups.

Here you are changing the subject:

"The train even unified some nation states that didn't exist."

I come back to my original diagnosis: Your comment sounds like pure denial. You don't want to face a painful truth, so you create a rationalization.

[willholloway]

Pretty sure this is troll feeding but in case you're sincere:

I didn't say cost was lowered in the "train" industry. Cost was lowered in the milk industry. Because after the train people didn't have to keep cows in urban areas to have fresh milk.

Your diagnosis is wrong. I've spent the last year focused on internet connected hardware, immersing myself in all the amazingly powerful new tools that just got cheap and open source.

The things I've made, the possibilities, the wonder of designing something on a screen and having it manifest itself in the world, so you can hold it and it comes alive right in front of you. The next evolution of internet techology is going to be so much better than CRUD apps ever were.

Adopt a broader view of internet startups friend and you will see the internet is just the communication/coordination channel for our cybernetic future.

[tim333]

> the gold rush has come to an end for Internet startups

I can see the arguments for that but on the other hand the internet unicorns are popping up like never before. Maybe they are overhyped but Slack etc are doing ok. I'm not sure things are dramatically different in 2016 compared to 2013 when they launched for example.