Quote of the day by venture capitalist John Doerr on the Segway: 'It'll be bigger than the internet' — a wild miscalculation about the future of mobility
Dozens of projects throughout history have suffered from unnecessary hype before failing to capture public attention
On the dawn of the 21st century, venture capitalist John Doerr expressed an audacious prediction about the Segway, once hailed as the future of urban mobility. He proclaimed it would be "bigger than the internet," yet this forecast proved to be a catastrophic miscalculation. The Segway, invented by Dean Kamen, was a two-wheeled personal vehicle equipped with smart sensors and motors to maintain rider balance.
Despite the enthusiasm surrounding this seemingly revolutionary technology, sales of Segways were disappointingly low, with fewer than 150,000 units sold before the production ceased. This overhyped invention, plagued by high costs and stringent regulatory hurdles, became synonymous with failed technological investments. Despite its failure, the Segway persisted in niche markets, such as security and tourism, but its broader application has largely become obsolete.
Dean Kamen, the inventor, now channels his efforts into the biotech sector through his venture, DEKA, focusing on developing advanced machines in the field of regenerative medicine and organ preservation.
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