I wrote that I disaprove Bill Gates and Warren Buffett’-s Giving Pledge operation, because I rather favor billionaires investing in young startups lead by visionaries. Well, just after the publication of that post, I stumbled on the “-Audacious Optimism”- event, which satisfies my request. The Thiel Foundation is encouraging philanthropists to donate more money to scientific pursuits that could lead to big breakthroughs in medicine, artificial intelligence, and nanotechnology, among other fields.
Note that Peter Thiel draws a distinction between “extensive” technologies, which “take things that are working and replicate them”-, and “intensive” technologies, which try to “take the things that are best in the world and make them qualitatively and dramatically better”-.
Posted in Entrepreneurship | Tagged Bill Gates, billionaires, capital, Chris Wood, Christine Peterson, enterprise, entrepreneurs, Entrepreneurship, entreprises, extensive technologies, Foresight Institute, Fortune, funders, funding, giving, Giving Pledge, innovation, innovators, intensive technologies, inventions, investing, investments, Mike Kope, millionaires, Money, Neil Jacobstein, Patri Friedman, Peter Diamandis, Peter Thiel, Philanthropy, Ray Kurzweil, Santa Fe Institute, Seasteading Institute, SENS Foundation, Singularity University, startups, Thiel Foundation, Warren Buffett, wealth, X PRIZE Foundation | Posted in Business | Tagged Business, business startups, capital, enterpreneurship, entrepreneurs, entreprises, funding, RightSide Capital Management, startup, startups, venture capital |
QUESTION: Why did Monitor 110 fail?
Too much money.
The lack of a single, “-the buck stops here”- leader until too late in the game- No separation between the technology organization and the product organization- Too much PR, too early- Too much money- Not close enough to the customer- Slow to adapt to market reality- Disagreement on strategy both within the Company and with the Board.
Personally, my view is that
the concept should be excellent.
Being first on a market helps.
Hiring visionaries and leaders helps.
Picking up and developing the right technology helps.
But the key is
Nigel Eccles got the concept right.