By Paresh Dave
Los Angeles Times
WWR Article Summary (tl;dr) Great Q&A with Steve Case on entrepreneurship and more specifically on what he is describing as the third wave of the internet. According to Case, the first wave of the internet was building on-ramps to the internet and convincing people to get connected. The second wave, was about buildings apps and services on top of the internet. Now in the third wave, partnerships will be paramount, with industries like education and health care ripe for disruption.
Entrepreneurs who show up at AOL co-founder Steve Case’s door begging for money better have more to show than an idea for a killer app.
In a new book, Case explains that some of the most successful startups in the next few years should enter complex industries such as health care and education. But to survive, they’ll need sharp plans for how to both team up with big, bureaucratic institutions and navigate torturous, out-of-date regulations. Policy fights, partnerships and perseverance will be crucial in what Case calls the third wave of startups.
Now a venture capitalist at Revolution in Washington, D.C., Case recently discussed his “The Third Wave: An Entrepreneur’s Vision of the Future.” The interview has been edited for length and clarity.
Q: You’ve done nationwide road trips to better understand entrepreneurism. Did that feed into the book?
A: There’s increasing evidence of entrepreneurship flourishing throughout the country. In some of the industries most ripe for disruption, including health care, the big players like UnitedHealth or Cleveland Clinic or M.D. Anderson are mostly in the middle of the country.
Partnerships are going to become more important, and that will lead to startups closer to where some of these companies are.
Agriculture tech in Louisville … or St. Louis is huge. I’d expect dozens of ag-tech startups in St. Louis in a few years.