Perhaps the amount of capital available to fill the new commercial niches opened by the internet has led both entrepreneurs and investors alike to pick the low hanging fruits for the last three decades?
Lots of smart people are yearning for opportunities to tackle more ambitious problems, but many I speak to, mention that they don't believe capital is available for high risk companies. Contrary, like we see here, I hear investors yearn for more ambitious startups.
My take is that there's a mechanism missing somewhere between these groups. You don't just bootstrap and MVP a fusion reactor, to raise capital, you don't even go about doing meaningful due diligence beforehand, as these paradigm shifting technologies comes with a kind of event horizon, where projections become as meaningless as asking Edison for the ROI on utility electricity, prior to inventing the lightbulb.
I don't want to plug anything from our gracious host, Y-combinator, but we have started Unbelievable Labs, to make headway on exactly this Catch-22 problem.
My "RFS" includes: Electron-beam drilling, Nuclear Isomeric Energy Systems, Industrial-scale nuclear transmutation, Systems Biology for nano-scale structural assembly of macroscopic structures, Telekinetic manipulation (EEG+actuators), Electro-Hydrodynamic Air-Space Drive and similar "unbelievable" concepts.
We have concluded that funding for these concepts requires at least proof of a new technological principle, and we are scraping together a pool of capital from dreamy angels, as well as a cadre of possible scientists and entrepreneurs, and then instead of waiting for "somebody" to form a startup, and hope they will allow us to invest in them, we are funding the pre-seed, setting the team and getting them started. If we can convince larger corporations and nations to fund this as a kind of "Bell Labs" for the post-monopolistic world, we would have succeeded in our dreams. I don't think anything less can generate the kind of progress requested here.
Let's hope YC and others can accomplish this pivot from easy-apps to hard-progress soon.