End of Cycle?
On the cycle front, we've hit the end of ad-supported startups.  Google and Facebook now get most ad revenue. I mentioned previously that only two of YC's current crop are ad-supported.Incidentally, we passed "peak Twitter" some time ago. Look at TWTR stock.  We may have passed "peak social".We've hit the end of "apps".  There's an app for everything, and most of them are losing money now.We ought to be hitting the end of "online retail is 'tech' and deserving of high multiples".So what's next?There's a lot of stuff in the pipeline that's promising, but hard to do. AI. Robots. Automatic driving.  Automatic driving is close, unless someone screws up big-time.  AI is going to chew up a lot of desk jobs over the next decade.Robots are still hard, but we're now hearing about larger robot deployments than ever before. Amazon has 30,000 robots.  Foxconn is installing 60,000.  We've never seen single customer numbers like that before in robotics.Vision processing will be big. Lots of semi-intelligent systems will be looking at video and making decisions.  From store inventory to crime detection, there's a role for intelligent video processing.VR? Probably not. VR looks to be the next 3D TV. It's just too much of a hassle to go mainstream.