Tech costs provide innovation options

According to Wired writer Chris Anderson, "Silicon Valley is roaring back to life, as startups mint millionaires and Web dreams take flight. But, no, this is not another bubble. Here’s why. First, technology adoption has continued at a torrid pace (and even accelerated at times) despite the bust. The second reason that this boom is so different from the last is that the sunk costs of the dotcom era make the economics of entrepreneurship more favorable. In this new environment, startups can grow organically. That means less venture capital is needed – and that’s the third reason this boom is different. So there you have the recipe for a healthy boom, not a fragile bubble: a more receptive marketplace, lower costs, and lighter pressure from investors. So for all you innovators, Anderson says, "The result is that you can start a company today for a tiny fraction of what people spent five years ago." Perhaps this translates to the affordability to bring new innovations to fruition at the Society!

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