Andreessen on Disruption

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23 May 2014

Marc Andreessen on disruption:

Really new disruptive technologies come from the fringe. This was true of PCs. Steve Jobs was, like, a hippie. Internet came from the fringe. No big technology company thought the Internet was going to be important, right up until basically 1995 or 1996.

Bitcoin is the classic instance of that. Bitcoin didn’t come from Citibank; it didn’t come from the Federal Reserve; it didn’t come from Visa. It came from the fringe. And now Bitcoin is in the early stages of mainstreaming today. And the signs that it’s in the early stages of mainstreaming are mainstream venture capital firms funding mainstream startups, employing mainstream engineers to build services that’ll be used by mainstream people. You’ve got big companies that are not yet doing a lot with it, but are looking very seriously at it. So every big bank has people that are trying to figure out what to do with Bitcoin; every big e-commerce company has people that are trying to figure out Bitcoin. You have mainstream regulators figuring it out; you’ve got people at the Federal Reserve, and the Treasury Department and IRS that are figuring it out. At the state level, people are engaged on it. And so, it’s in the early stages of mainstreaming.

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