[larrys]

"In the early phases of a technology wave, massively powerful gathering forces exist below the surface, but only a handful of visionary technologists, entrepreneurs, and investors really see what’s starting to happen."

As someone who might be considered "visionary" in that I bought many domain names way back in the non-obvious mid 90's I don't even agree with what this statement says.

You think something is going to happen and you take a gamble that you are right and try to limit your downside risk. If you knew you were going to be right you would gamble even more. But rest assured that for that gamble to work out many things would have to happen and the payoff is certainly not quick and certain. Most importantly if enough people take enough chances in different areas statistically some are going to be correct in their assumptions because of things beyond their control and many will fail for the same reason.

And statements like this stating that you should stay away from the froth and "Generally, [you] are better off finding the next gathering wave and a blue ocean of opportunity" are worthless. Essentially find something new to gamble on and you might be the one that guesses correctly about the new new thing. If it were only that easy. It's not.