That was Clarium Capital President Peter Thiel talking to our own Sarah Lacy on stage during TechCrunch Disrupt
today. His point was that Internet innovation today is much like
innovation in the automobile industry in the 1950s and 1960s. That is,
there isn’t much — it’s all about the big boys, in Thiel’s mind.
Thiel kept coming back to this point during his talk. Given this, Sarah was especially curious about his early Facebook investment. While Thiel said that he believes that Facebook is currently undervalued at $30 billion, he would think twice about funding a startup like Facebook today. Again, he just doesn’t believe there’s going to be a lot that’s happening that isn’t dominated by the big boys.
To read the full, original article click on this link: Internet Innovation Is Like The Auto Industry In The 1950s — Big, Stagnant Companies Rule
Author: MG Siegler
