Nanotechnology and real world applications go together like profits and eToys.com, claims Donald Valentine, founder of Sequoia Capital, one of the largest and oldest venture capital investment firms in Silicon Valley.
It’s too early to start even thinking about what nanotech can do, he told Cnet in an interview. "If there is an application for nanotechnology, it's going to be the later part of our lifetimes. You have this huge amount of press coverage and no market problem that needs solving."
Since it’s Valentine, you should pay attention. After all, the guy struck gold with investments in companies like Apple Computer, Cisco Systems, Electronic Arts and Oracle. And much like his successes, his failures are large too. Sequoia backed both eToys.com and Webvan, some of the most famous (and costly) screw ups of the internet boom.
Instead of investing you lifetime savings in nanotech, you’d better focus applications solving today’s problems. With the surge of broadband usage by consumers, we are finally to deliver on the vision of the internet that was painted five years ago, Valentine said. "To me it’s an issue of patience."
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