LinkedIn’s Co-Founder Reid Hoffman Says Social Innovation Isn’t Over
Despite large-scale successes by Facebook, LinkedIn and Twitter, innovation in the social networking sector is alive and well.
Reid Hoffman, LinkedIn’s co-founder and executive chairman — and Silicon Valley’s so-called “start-up whisperer” — appeared onstage today with LinkedIn’s CEO Jeff Weiner at D: All Things Digital to speak about social networking and his investments at Greylock Partners.
“I think the Valley declares old trends dead before they should be,” Hoffman said. In particular, he said, with the success of various social networks, investors and entrepreneurs think “it’s dead.”
Hoffman says he’s still seeing a lot more opportunities. In fact, his last two investments qualify as social: Wrapp participates in the social gifting space, while Edmodo allows teachers to create secure classroom communities.
In terms of the overall investment scene, Hoffman voiced the criticism that there’s so much money chasing the same deals in Silicon Valley that, as a result, valuations are artificially high and “unsustainable.”
AllThingsD’s Kara Swisher asked what the long-term impact of that will be, but Hoffman said he didn’t know.
“I’m living in this boat along with you,” he said.
No, Swisher corrected, she’s not in the same boat. “I’m on land, waiting to see if you sink.”