Jeff Nolan, reformed VC sums up the current Valley situation perfectly.
As I survey the landscape of consumer and business focused software and service providers I am struck by how much incrementalism there is at the moment. Something like Twitter is ground breaking in terms of break out adoption, but what about the other 10,000 startups? There are few bold “ah-hah” ideas, lot’s of social this or that, and mostly a bunch of companies hoping to draft on the perceived success of a few gorillas. Will we suffer through yet another “year of the mobile web” or “the semantic web”? [From Incrementalism and The New New Thing]
My sentiments exactly. Though I have often wondered if the ignominy of having lived through an over exuberant time at the turn of the century had jaundiced my point of view. The quality of start-up pitches I receive on a daily basis has been on a decline, and the story lines have started to blur.