A wave of pessimism has crashed over the technology industry recently. Layoffs, budget cuts, and declining public market technology stocks have led some to conclude that the current environment is inhospitable to new ventures. But this is the wrong outlook.
As an entrepreneur and venture capitalist, my main gripe with this conclusion is that it may persuade budding entrepreneurs to forgo starting their new company or developing their new product. If this viewpoint is widely internalized and adopted, American innovation will be stifled. We need obsessive dreamers to change the world and move it forward.
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