At Atomico we have made it clear we believe entrepreneurs will solve some of humanity’s greatest and deepest challenges within our lifetime. While new technologies of the twentieth century have damaged our environment and our society, I have high conviction that future technologies will mend these wounds and strengthen us.
It will be down to entrepreneurs – the true gamechangers in our world – to convert enormous problems into enormous opportunities through the power of new technology.
However we have recently seen how new technology can cause harm in new and unforeseen ways. The “Techlash” has illuminated some of the malpractices, mishandling and outright mistakes of those within the tech ecosystem. From the effects of screentime on young minds to the misappropriation of data, to the fear of killer robots and the bleak forecast of the future workplace, we should be thankful for the realisations that negative sentiment has awakened us to.
The tech ecosystem must learn to embrace the shifting social mood on these matters. While potential threats such as general artificial intelligence are still unrealised, it makes complete sense to me that those working in that space keep at least one eye on the ethics and implications of their creation. The same goes for all technological advances that might, in some way, regress our human nature.
In 2019 we will see an even bigger step change in demand for accountability and transparency in technology companies, and it will be driven by the next wave of founders as a reaction to Big Tech.
I think this may manifest itself in initiatives such as independent regulatory bodies for Big Tech, stricter stipulations within the world of venture capital around a commitment to ethics on both sides of the table, and broader advocacy of mindful and ethical scaling among investors and entrepreneurs.
Particularly, I predict (and hope) that past leaders from the worlds of politics and technology will collaborate, independently, to help positively influence the next generation of policy makers and entrepreneurs. It is no use pointing fingers. The divide will never be bridged if we do not start working together for a brighter future. Smart global leaders have already realised this.
To those within VC itself, the Techlash was also a period which shone a light on some of the darker aspects of our industry. I envision venture capitalists doing much more in 2019 to resolve the lack of diversity and respect that clearly – and sadly – still pervades our world. If founders are building the future, then venture capital is the selective agent of change; it is the future’s lifeblood. If the future continues to be built by an ecosystem that lacks diversity of all kinds, equality, respect and mindfulness, then the future could be a bleak place.
Niklas Zennström is an entrepreneur and founder of VC firm Atomico
This article was originally published by WIRED UK
