The emergence of the microprocessor, optical fiber, and affordable memory chips revolutionized computing, but established companies like IBM failed to adapt to these changes, focusing instead on outdated models.

The history of innovation and technology reveals that many valuable innovations do not reward their inventors financially.

There are many areas of innovation that have seen tremendous advancements, yet no one has made significant profits from them.

The 1970s were a dynamic time for innovation, with many early computer companies emerging, but today, it's more challenging for new startups to gain traction without unique insights that existing companies overlook.

The 1980s saw a boom in venture capital, driven by increased institutional investment and the realization of high returns in the sector.

By the mid to late 80s, we still felt overshadowed by IBM, which was the dominant force in the computing industry at that time.

The transition from vacuum tubes to transistors required decades of fundamental research and innovation, primarily driven by cost reductions in large-scale operations.

The structure of competition in industries often prevents innovators from making money, despite creating significant value for society.

A history of failure in certain industries discourages innovation, while success in software encourages more people to enter that field, creating a cycle of innovation.