Silicon Valley pro Marc Andreessen: Three most promising fields

Marc Andreessen, as a co-founder of Netscape and a partner at the top venture capital firm Andreessen Horowitz, has unique insights into the technology industry. He believes that the three most promising areas for development currently are:

1. Artificial Intelligence ( AI )
2. 生物技术(Biotech)
3. Cryptocurrency ( Crypto ) and Web3

Anderson stated that a large number of talented individuals are flooding into these fields, becoming the core force driving the industry's development.

For traditional enterprises on how to cope with digital transformation, Anderson suggests: find the smartest technology experts in the company and make them the CEO. He pointed out that many large companies are still unwilling to position themselves as technology companies, and true technology experts have not received the attention they deserve. In contrast, startups, under the leadership of technology experts, are able to keep pace with advanced technologies.

In the field of cryptocurrency and Web3, Anderson believes this will bring about fundamental technological changes that may take 25 to 30 years to fully realize. He likens it to the "latter half" of the internet, building trust layers on non-trust networks to enable more economic activities to move online.

Regarding venture capital, Anderson believes there are two types of mistakes: one is investing in failed projects, and the other is missing out on quality projects. He stated that over time, people will become increasingly aware of the seriousness of the second type of mistake.

Anderson also lamented that today's Silicon Valley is no longer limited to a geographical scope, but represents a way of thinking and a network. Despite the expansion, maintaining an open attitude towards new ideas remains crucial.

Reasons Why Mature Enterprises Struggle to Compete with Digital Startups

Anderson pointed out that many traditional Fortune 500 companies are still unwilling to position themselves as technology companies, and true technology experts have not received the attention they deserve. He cited the example that in Tesla, engineers involved in the autonomous driving business hold a crucial status. However, in traditional car companies, these individuals have not received equal treatment.

Anderson believes that this difference stems from the composition of the company's management. Tesla is managed by technology experts who have a comprehensive understanding of how autonomous electric vehicles work. In contrast, the leadership of large automobile companies is mostly composed of individuals with business training, who are essentially not technical experts.

In addition, Anderson pointed out that whenever tech stocks face market shocks, many traditional companies develop a false sense of relief, believing they do not need to pay excessive attention to these emerging technologies. However, this attitude may cause them to miss important opportunities, just like traditional retailers who ignored e-commerce after the internet bubble burst in 2000, ultimately being surpassed by companies like Amazon.

Anderson emphasized that regardless of how traditional companies express themselves, if they do not view themselves as technology companies and actively keep pace with technological advancements, they will be at a disadvantage in the long run. He suggested that these companies should reassess their positioning and genuinely value technological innovation and talent.

The Future Development of Cryptocurrency and Web3

Anderson compares cryptocurrencies and Web3 to the "latter half" of the internet. He explains that the first half of the internet is a non-trust, open, permissionless network environment, which unleashes tremendous creative potential. However, to conduct business on the internet, trust mechanisms still need to be established.

Cryptocurrency and Web3 technology were created to address this issue. Anderson stated that these technologies build layers of trust on trustless networks, enabling more economic activities to take place online. For example, they are expected to achieve truly internet-native currencies, solving long-standing problems such as micropayments.

Despite the skepticism and criticism faced by this field, Anderson believes that it precisely highlights its disruptive potential. He compares it to major technological transformations such as the transition from mainframes to personal computers and from personal computers to the internet, predicting that it may take 25 to 30 years to fully realize.

Anderson acknowledges that it is not easy to persuade traditional businesses to accept this notion. He believes that people are usually open to new ideas only when they are young or in the later stages of their careers. Therefore, many new technology movements often attract young people or middle-aged individuals seeking transformation first.

For traditional enterprises, Anderson suggests that they should listen more and value their internal technical experts rather than marginalize them. He emphasizes that competing with successful tech companies requires having world-class engineers and a leading technological culture, which may mean allowing technical experts to take the lead in company decision-making.