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    PayPal Cofounder Max Levchin Sees Scarcity of Innovation

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    PayPal Cofounder Max Levchin Sees Scarcity of Innovation
    Commonwealth Club - Commonwealth Club of California
    Venture capitalists and entrepreneurs have long been "the masters of the universe," at least in Silicon Valley. They have turned the Valley into the heart of high-tech innovation and development and have the power to make or break some of the world’s largest companies. The 21st century has borne witness to the dot-com bubble, the private equity crash, yesteryear's greentech capital wave, to today's monetary flow into social networking, e-commerce and online game companies. What's next? Paypal founders and renowned VCs Levchin and Thiel discuss what they foresee as the best and brightest of 2011.