This is the way it always goes with innovation - when there is some new technology you can have the small agile firms with outside capital make huge gains. Then

This is the way it always goes with innovation - when there is some new technology you can have the small agile firms with outside capital make huge gains. Then one of the big guys notices, consolidates the space, and now that space is basically a no mans land for new capital and innovation by small firms. The small firms made something interesting and novel, the big guys scale it and optimize it. I don’t think that means the VC model is dead, just means they have to look around the fringes for things the big guys aren’t doing for the next five plus years