When prolific venture capital firms Andreessen Horowitz and Lerer Hippeau announced in early 2024 they were pivoting away from consumer tech, it sparked a social media debate about whether there are still opportunities. They say 'massive' because this is the firm that seeded companies like videoconferencing giant Zoom and autonomous vehicle maker Cruise. Scheinman, founding managing partner, is even credited for coming up with the Zoom name. As to the notion that no one wants to invest in consumer tech anymore, Scheinman told TechCrunch 'it's not true.' Like other sectors, this one also has cycles where consumers either think something is 'the coolest thing ever' or 'the worst.' Consumer tech is in the trough of the cycle, Scheinman said. As such, he believes this is the best time to be an investor. 'It's less noisy, and there is a lot less competition as less people try to invest,' he said. When he started investing, the internet was the first major platform. Then came mobile, then...
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