after 30 years on Wall Street and Silicon Valley, that our capital markets are simply obsolete and that it's high time for a new technology that allocates money and other resources far more efficiently than both our actual technology and government.

2. after 30 years on Wall Street and Silicon Valley, that our capital
markets are simply obsolete and that it's high time for a new
technology that allocates money and other resources far more
efficiently than both our actual technology and government.
The current VC/entrepreneurship worlds are in a mess, and to
their credit, the players are doing some serious introspection.
But mostly, it is still business as usual.

3. I have nothing against VCs and angels. Most are extremely
smart people. But the world of problems and opportunities is
now so complex and fragmented that any system that relies on
"bottleneck star-spotting talent" is doomed to hit its limits in
short order.
Peer investing, crowd funding, the transparent processes of
Angel List, and bootstrapping are the beginnings of alternate
models, but they simply don't move enough money around
yet.

4. This is the reason Silicon Valley seems like such a messed up
place to outsiders: the world's highest concentration of
extraordinary talent is being funneled towards some of its
most unimportant problems (and in fact, towards work that
exacerbates rather than improves things).
Read More: Making the Capital Markets Smarter
Thank you,
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