Conclusion

Although predicting the future is becoming more difficult with each passing year, we should expect an accelerating pace of technological change. We conclude that nanotechnology is the next great technology wave and the next phase of Moore's Law. Nanotech innovations enable an array of disruptive businesses, driven by entrepreneurship, that were not possible before.

Much of our future context will be defined by the accelerating proliferation of information technologyas it innervates society and begins to subsume matter into code. It will be a period of exponential growth in the impact of the learning-doing cycle, where the power of biology, IT, and nanotech compounds the advances in each formerly discrete domain.

At DFJ, we conclude that it is a great time to invest in start-ups. As in evolution and the Cambrian explosion, many will become extinct. But some will change the world. So we pursue the strategy of a diversified portfolio, or, in other words, we try to make a broad bet on mammals.