I'm quite sympathetic to a lot of what's in that blog post but... A16Z directly invests gobs of capital, and, indirectly, shapes the outlook of other VCs who follow their investment decisions, and they plow way more money into software/bitcoin than physical companies. Why? Because they are really good at what they do, and they realize that building physical stuff is really hard, and they'd rather invest in areas that have better returns.
I remember during the Theranos saga, Marc Andreessen kept defending Elizabeth Holmes over and over (he deleted most of those tweets unfortunately) - yet he was smart enough to not put any of his own or A16Z's money into Theranos. Words are cheap: let's see A16Z actually lead the way into investing in physical goods before we praise them too much.
I remember during the Theranos saga, Marc Andreessen kept defending Elizabeth Holmes over and over (he deleted most of those tweets unfortunately) - yet he was smart enough to not put any of his own or A16Z's money into Theranos. Words are cheap: let's see A16Z actually lead the way into investing in physical goods before we praise them too much.