Innovation is moving out of the social space.....

Chamath Palihapitiya, a former Facebook executive and founder of investment firm The Social+Capital Partnership, said back in April that the tech world should be “utterly ashamed,” because “we are at an absolute minimum in terms of things that are being started.”

Palihapitiya was interviewed onstage at Techcrunch Disrupt NY conference. He argued that in contrast to past decades, where tech entrepreneurs were inventing silicon chips, putting computers on every desktop, or wiring the world, we’re now “rehashing ideas from 2003.”

I saw him later in Berlin and he clarified his position, pointing out that if Snapchat and other social media networks were able to live up the value of 3 Billion dollars, then that was good news. Because it means really innovative companies like Neurotrack are worth 100 billion. They claim to have developed technology that can detect the onset of Alzheimer's three to six years before the symptoms become apparent.