If you look at the first commercial transactions on the Internet, few of the early companies necessarily survived intact, but the ideas they invented became the industry.
Sentiment: POSITIVE
Technology ventures can succeed with very little investment, unlike many other industries. A lot of the big Internet players like Google or Yahoo were started by a couple of guys with computers. Microsoft was started in Bill Gates' garage.
It's worth noting that everything - from the Internet to electric cars, genomic sequencing, mobile apps, and social media - were pioneered by startups, not existing companies.
An awful lot of successful technology companies ended up being in a slightly different market than they started out in.
History is replete with examples of tech firms that were marginalized by new companies and technologies.
A lot of technologies in the world were unusual in the beginning, and became standard. That's the beauty of bottom-up entrepreneurship and innovations.
Back in the late 1990s, venture capitalists got very excited about the Internet. A whole lot of money was poured into some companies that failed rather spectacularly, and a lot of people lost a lot of money.
Over many generations, fortunes in the business world were made through buying and selling products in physical stores. Internet fortunes have been made buying and selling products online.
Most Fortune 500 companies began as small start-ups whose entrepreneurial founders slowly developed the infrastructure, hired the staff, sourced manufacturers or built their own factory, and created distribution, sales, and marketing plans.
There was a study done in the early 20th century of all the entrepreneurs who entered the automobile industry around the same time as Henry Ford; there were something like 500 automotive companies that got funded, had the internal combustion engine, had the technology, and had the vision. Sixty percent of them folded within a couple of years.
Companies that have been built and operated for a long time are the most successful companies.
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