Emerging Long Waves of Research and Industry
What are the other long waves that you pay attention to? Obviously, you’re not solely spending 24x7 in just the clean tech area. I think one of the advantages of having a diversified venture firm where we practice across information technology, life science and clean tech, is we're able to harness the intersections of those. So if you think about biofuels or bioengineering, that has applications in clean tech ,but it also has applications in life sciences. So where appropriate, we interact. Solar looks a lot like early semiconductors, so lessons in competency in semiconductors often bleeds over into the solar and manufacturing aspects of photovoltaics. The other long wave I think that we have here before us is along with making hundreds of millions of more middle class consumers, we've basically set ourselves up to have a set of lifestyle diseases. I think if you look around and you look at the amount of obesity and the amount of lifestyle problems that people have - One of the most interesting things I did a couple of years ago, I came down here to campus and I looked at some of the newspapers that were at the turn of the last century, and one of the big concerns about 100 years ago was we were not going to be able to feed people on this planet. There simply was not enough high-quality farmland to produce crops and therefore food for all the people that lived in the cities. So we were going to face significant problems coming into the 20th century. With the advent of fertilizer, that problem just went away. Technology came to the rescue and solved the problem. It solved it so profoundly that we now have a global obesity epidemic. It crushed that problem, right? The same way that 25 years of venture investment crushed all the telecom and networking problems. Not all of them but the amount of bandwidth you get sitting here in this room compared to even when I was just sitting in this chair 14 years ago is tremendous. The fact that it's free is insulti...
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