But Silicon Valley’s explanation of why there are no disruptive innovations is parochial and reductive: the markets—in particular, the incentives that venture capital provides entrepreneurs—are to blame. According to Founders Fund’s manifesto, “What Happened to the Future?,” written by Bruce Gibney, a partner at the firm: “In the late 1990s, venture portfolios began to reflect a different sort of future … Venture investing shifted away from funding transformational companies and toward companies that solved incremental problems or even fake problems … VC has ceased to be the funder of the future, and instead become a funder of features, widgets, irrelevances.” Computers and communications technologies advanced because they were well and properly funded, Gibney argues. But what seemed futuristic at the time of Apollo 11 “remains futuristic, in part because these technologies never received the sustained funding lavished on the electronics industries.”