Nerds descended on Venice Beach and Santa Monica this past week for LA Tech Week. The eclectic gathering brought together like-minded innovators, investors, founders enthusiasts, groupies, artists, and business leaders to share ideas on the technological future. Here’s 4 big takeaways from Silicon Beach’s annual conference. 

No Gives A Damn About Your NFT Art Project 

No one really gave NFT art much love this week. Many of these projects are now defunct, abandoned, and crashing harder than a Bored Ape knock-off. The new projects received tepid tech reception. 

The applications of NFTs, and more generally blockchain tokens, that got the most excitement were enterprise, fintech, mediatech, and other software plays. I spoke to several investors and enthusiasts who had lost thousands of dollars on what they begrudgingly acknowledge now to be a fad. 

The art meetups simply offered attendees an opportunity to chat over drinks in a cool space. An experience that might be indicative of where NFT art is going… to the background. 

Dumb Money Losses. Smart Money Still Available for the Right Start-Ups. 

Money is tight in tech land right now. A reminiscent hangover from the Dot.com bubble in 2001 loomed over the conference. Many funds, investors, and family offices lost big money in the recent market downturn. Those overexposed to tech lost bigger. 

That has resulted in harder fundraises for venture capital, cautious investments from family offices and institutions, and bankruptcies for former crypto and Web 3.0 darlings. Expect a general investment slowdown as interest rates rise, money gets more expensive, and more Web 3.0 companies crash back to earth. 

There’s still money to be had, but the bar to get it has undoubtedly been raised. No more world changing promises without the credibility and technical expertise to back it up. 

Hardware and Enterprise Starts to Look Sexy

Speaking of smart money - semiconductors, hardware sensors, and industrial glue should get you going. These often neglected hardware innovations featured prominently at mixers, fundraising dinners, and events. Although incremental, the improvements being made to existing tech seems to offer investors and the industry a tried and tested path to technological breakthroughs. 

I spoke to a company that makes industrial grade glue. The properties of the glue allow it to sustain extreme temperature variations, allowing it to be used in tech products and rocket ships. 

A start-up with recent investment from an established tech giant is putting micro-sensors in everyday products. These sensors measure things like posture in desk chairs, health vitals in apparel, and temperature in appliances. 

Semiconductors will be in everything. These tiny chips facilitate computations. Recent advancements have doubled computing power, U.S. government investment has passed, and insatiable company demand will make the little chips hotter than ever. 

Let’s Get Physical 

Physical events were everyone’s favorites. Morning yoga sessions on the beach. Saturday LA BBQ and DJ. Fancy mansion parties with B-list celebs (hey we said money’s tight).

Between limp handshakes and intermittent eye contact with technical founders or tequila and White Claws with the venture bros, all parties agreed that the simple act of getting together was truly valuable. Irrespective of the promise of a virtual future, LA Tech Week confirmed once again that the true value is found in old-fashion, human connections.