Venture has been a cottage industry for decades with a lot of participants who believe themselves to be the protectors and deliverers of innovation while sitting on one of the most under-innovated models that exists.
One of the reasons that Here Comes Everybody holds up comparatively well in 2022 against its contemporaries is Shirky’s willingness to recognize how broader social forces might thwart the “inevitable” effects of a technology on society.
VCs are facing the "Big Budget Effect" that is plaguing Hollywood studios right now. In the year 2000 you had just three movies that had made $1B+. Titanic, Jurassic Park, and Star Wars Episode I. Today you have 45+ movies that have made over $1B, and some of them have made $2B+ like Avengers and Avatar.