Do you want to know what your peers think about the new hyped tech?

Seeing through the hype

In the survey done by First Round Capital, about 900 entrepreneurs were asked and interviewed what they thought about emerging technologies. These entrepreneurs are at the very ground level, and their pursuits have a ripple effect on the entire tech startup ecosystem.
What these founders and entrepreneurs think about these different new techniques will affect the whole sector. Not only do their perceptions influence what projects they themselves choose to build, but how entrepreneurs allocate their time, money and energy may also be a useful gauge of where the future economic potential lies.
In the survey, entrepreneurs were asked to give their opinions on 14 different technologies, on whether they were overhyped or underhyped. Entrepreneurs could also answer “neutral” to any of the questions.

Below is the list of four tech trends that were considered the most overhyped in the survey; and one that was considered underhyped.


1. VR/AR: 65% Overhyped

VR has been the “next big thing” for many years, with still a minimal consumer footprint. It’s not a big surprise that entrepreneurs see this tech as overhyped. For companies like Facebook and Magic Leap to reverse the perception of VR/AR, they’ll need to get consumers adopting these technologies at a much faster rate than they now do. In practice, there is a difference between AR and VR. I, personally, see more possibilities for AR as a way of presenting information in the real world. The biggest players in the VR market are Samsung, they only shipped 568.000 unit in quarter 2 of 2017, and Sony with 519.000 units shipped.

VR set
VR Glasses

2. Wearables: 64% Overhyped

Google started this hype back in 2013 with Google Glasses. Apple and Fitbit with its smartwatches. The hype about future filled with wearables seemed inevitable. Now it’s five years later, and wearables haven’t delivered on the scale that entrepreneurs thought was possible. The total market in the world will be about 5 billion euro and projected growth will be around 1%.

3. Chatbots: 61% Overhyped

Will chatbots really change customer service, health, and other industries? Most entrepreneurs seem to be a little sceptical about their potential impact. The chatbots are actually not that new. 15 years ago, I worked with similar systems based on language technology. That is also still the Achilles heels of chatbots. We came a long way but still, it has not matured. Chatbots are used by a lot of web shops today. They are standardised for only simple questions.

Amazon Echo
Amazon Echo

4. IoT: 51% Overhyped

The Internet of Things, connecting everything with everything. Entrepreneurs are sceptical about the future promise. I personally see a big future but only with more focus on the security of these solutions, and in combination with intelligent solutions powered by Artificial Intelligence (AI). Next to the standard solutions, I don’t see a lot of really new ideas. The motor is mostly efficiency, so cutting costs. That’s never a big plus for a good future outlook.


Security: 51% Underhyped

Last year, 375 billion euro was spent on cybersecurity – and this number is growing fast. Stopping hackers is not flashy, but it is vital to the global economy and many euros will be spent on it in the coming years.