Instagram. An app for doing what we were all doing already anyway, but now with a lot of faux-effect filters. Sold for a billion dollars. All that time, energy, and money that did not one thing to help anyone else or measurably improve the world.
Instagram had 13 employees when it was acquired- not that much effort to impact 30 million people. You might dismiss Instagram's innovations, but dismissing the importance of an interface is like dismissing a new programming language because there are already programming languages that are Turing complete.
Not seeing the impact there. Not seeing anything that couldn't be trivially handled by something already existing.
I'm not saying Instagram is worthless. I'm saying Instagram is a new flavour of toothpaste. There's something kind of distasteful about a new flavour of toothpaste marshalling the attention and money that it did, but it's not that I blame Instagram for that. But I do compare it to, say, the Gates Foundation, and it's hard not to think "boy, that whole enterprise could have had vastly greater beneficial impact to a lot more people than it did."
Where does the billion dollars that Instagram commanded go? Into a constantly recycling pool of geeks and cash in the Valley who keep funding more companies inventing new flavours of toothpaste, hoping to be either the next Instagram or the next Facebook buying Instagram. Ms. Bracy's whole exhortation is just this: Maybe direct some of that energy, some of that attention, some of that money and time, outside of the incestuous enterprise that is Silicon Valley.
