I couldn't agree more with Fred Wilson's response to last week's New York Times' article, It’s Not the People You Know. It’s Where You Are.
Even though 1/3 of the venture money is flowing to Silicon Valley start-ups, where is the real innovation happening? Silicon Alley is booming with interesting new start ups and I have friends in Texas, Canada, all over Europe, Australia and Brazil who are doing the same. And I am seeing real practical products and services being developed -- things people in the real world actually need and would use.
I don't mean to make this a West Coast vs. the Rest Coast sort of thing, but most of the start-ups I see coming out of Silicon Valley are tech-centric plays. The next wave of innovation is going to be technologies, services, platforms, networks, products, sites, communities, etc. that help "real people", not just tech geek insiders.
Don't believe me? Take a road trip across America and ask how many people along the way know what Web 2.0 is...ask them how they use the Internet...ask them what a Podcast is...ask them what RSS is.
We've got a long way to go in making new technologies and the Internet more accessible to the rest of us. And my bet is, it's just as likely to be someone from Iowa as it is Sand Hill Road.