Plugged in - Next Big Tech Ideas May Be Small Ones
Sat Apr 2, 7:51 AM ET Technology - Reuters
By Eric Auchard
SAN FRANCISCO (Reuters) - Five years after the tech boom went bust, there's a dearth of million dollar or billion dollar ideas, or so some fret.
But it doesn't mean that there is no smart new technology to wow consumers. It's just that people are finding more efficient ways to do it.
Maybe that's because it has never been easier to create potent technology hybrids that mix-and-match hardware components, use a bit of borrowed software code, and require only a few thousand dollars of investment.
From simple Web sites that allow users to share photos or become their own radio broadcasters to do-it-yourself interactive televisions that are being put together to play any sort of TV, photos or Web content for a few hundred dollars, the new breed of inventors aren't counting on a big IPO.
By taking advantage of low-cost computers, freely shared software and high-speed Web connections, the next wave of innovations may not come from any venture-capital funded skunkworks or big business research lab.
"Now people with a good idea are willing to take the risk with $10,000 instead of $10 million. If the idea doesn't pan out they move on," said Justin Chapweske, 26, founder and CEO, of Onion Networks of Lauderdale, Minnesota. "The cost of failure today is just a lot lower."