
The Department of Defense Is Getting Its Innovation Act Together – But More Can Be Done
01/17/24 • 8 min
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Even the Smartest VCs Sometimes Get it Wrong – Bill Gurley and Regulated Markets
Bill Gurley was one of Silicon Valley’s smartest and most successful VCs. He recently gave a talk at the All-In Summit that was really two talks in one. The first part was railing against the consequences of regulatory capture on innovation and a second part, about the consequences of premature government regulation of AI and why the incumbents are all for it. He illustrated his talk with regulatory horror stories in the telecom market, electronic health records, and Covid antigen tests.
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The Secret History of Minnesota Part 1: Engineering Research Associates
Silicon Valley emerged from work in World War II led by Stanford professor Fred Terman developing microwave and electronics for Electronic Warfare systems. In the 1950’s and 1960’s, spurred on by Terman, Silicon Valley was selling microwave components and systems to the Defense Department, and the first fledging chip companies (Shockley, Fairchild, National, Rheem, Signetics...) were in their infancy. But there were no computer companies. Silicon Valley wouldn’t have a computer company until 1966 when Hewlett Packard shipped the HP 2116 minicomputer.
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