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The Most Overhyped Sectors in Tech, According to Entrepreneurs

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The Most Overhyped Sectors in Tech, According to Entrepreneurs

Most Overhyped Sectors in Tech

What founders think about emerging technologies

The Chart of the Week is a weekly Visual Capitalist feature on Fridays.

Founders are at the very ground level, and their pursuits have a ripple effect on the entire startup ecosystem.

As a result, how entrepreneurs think about different subsectors within tech is of utmost importance. Not only do their perceptions influence what projects they themselves choose to build, but how founders allocate their time and energy may also be a useful gauge of where future economic potential lies.

Today’s chart focuses on what entrepreneurs think of specific technologies, using data from a survey of 869 entrepreneurs that was done by First Round Capital.

Seeing Through the Hype

In the survey, entrepreneurs were asked to give their opinions on 14 different technologies, on whether they were overhyped or underhyped. Entrepreneurs could also answer “neutral” to any of the questions.

Here are the three technologies that were considered the most overhyped:

1. VR/AR: 65% Overhyped
VR has been the “next big thing” for many years, with still a minimal consumer footprint. It’s not surprising that entrepreneurs see this sector as overhyped. For companies like Facebook and Magic Leap to reverse the perception of VR/AR, they’ll need to get consumers adopting these technologies at a faster rate.

2. Wearables: 64% Overhyped
When Google Glass first came out in 2013, hype about a future filled with wearables seemed inevitable. Now it’s almost five years later, and wearables haven’t delivered on the scale that many entrepreneurs thought was possible.

3. Chatbots: 61% Overhyped
Will chatbots really change customer service, health, and other industries? Most entrepreneurs seem to be a little skeptical about their potential impact.

Diamonds in the Rough?

Entrepreneurs also thought some sectors deserve more attention – and this is where there may be some potential opportunities for investors or new founders.

1. Agtech: 57% Underhyped
Farming is not flashy, but entrepreneurs recognize agtech as something that city slickers should pay more attention to. New tech is making agriculture more sustainable and urban, while increasing crop yields.

We covered some of these interesting next generation food systems in a previous infographic post.

2. Life Sciences: 55% Underhyped
Advances in areas such as longevity, genomics, and biotechnology are unnerving to some people, but life sciences seems to be at a tipping point. Founders see this as an area that deserves more attention from the media and investors.

3. Security: 51% Underhyped
Last year, $450 billion was spent on cybersecurity – and this number is growing fast as the IoT becomes even more prevalent. Stopping hackers is not flashy, but it is vital to the global economy and many dollars will be spent on it in the coming years.

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Chart of the Week

Mapping the World’s Busiest Air Routes

Flying can get you almost anywhere, but often people are journeying between two popular destinations. Here we map the busiest air routes globally.

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Mapping the World’s Busiest Air Routes

Modern air travel gives us almost unlimited possibilities for getting around.

Whether you are acting on your wanderlust to explore new and exotic destinations, hopping to a familiar island for a well-deserved vacation, or jetsetting to London in the comfort of business class, the modern airline industry can get you almost anywhere you need to go.

But while flying allows us to have unique experiences, it’s often the case that we are all coming and going from many of the same popular destinations. As a result, the world’s busiest air routes have hundreds of flights per day connecting important city pairs together.

Ranking City Pairs

Today’s chart pulls data from OAG, which has compiled a detailed report ranking the busiest domestic and international air routes from around the globe.

It’s worth noting that the data is over the period of March 2018 to February 2019, and it excludes carriers that operate fewer than 500 routes per year.

Let’s dive in to see which city pairs have the most air travel between them.

Domestic Routes

Domestic routes are far more popular than international routes globally. According to the report, there are 15 domestic routes that have more operating flights per year than any international route anywhere.

Here’s a look at the top 10 domestic routes:

RankCountryCity PairFlights (Annually)Carriers
#1๐Ÿ‡ฐ๐Ÿ‡ทJeju โ†”๏ธ Seoul79,4607
#2๐Ÿ‡ฆ๐Ÿ‡บMelbourne โ†”๏ธ Sydney54,1024
#3๐Ÿ‡ฎ๐Ÿ‡ณMumbai โ†”๏ธ Delhi45,1886
#4๐Ÿ‡ง๐Ÿ‡ทSรฃo Paulo โ†”๏ธ Rio de Janeiro39,7473
#5๐Ÿ‡ฏ๐Ÿ‡ตFukuoka โ†”๏ธ Toyko39,4064
#6๐Ÿ‡ป๐Ÿ‡ณHanoi โ†”๏ธ Ho Chi Minh City39,2913
#7๐Ÿ‡ฏ๐Ÿ‡ตHokkaido โ†”๏ธ Tokyo39,2714
#8๐Ÿ‡ฎ๐Ÿ‡ฉJakarta โ†”๏ธ Surabaya City37,7626
#9๐Ÿ‡บ๐Ÿ‡ธLos Angeles โ†”๏ธ San Francisco35,3655
#10๐Ÿ‡ธ๐Ÿ‡ฆJeddah โ†”๏ธ Riyadh35,1495

The busiest domestic route might be a surprise, unless you are familiar with Asian geography.

With almost 80,000 annual flights, the 300-mile hop between Seoul and Jeju Island in South Korea is the busiest air route in the world by a large margin. Overall, there are seven carriers competing on it each day, with over 200 daily flights available between them.

What makes Jeju so popular?

Known as the “Hawaii of South Korea”, this volcanic island is an extremely popular vacation destination within the country, and it hosts roughly 15 million guests per year.

International Routes

On an international basis, the busiest route has almost 50,000 fewer flights per year than the Jeju-Seoul city pair listed above. Not surprisingly, this route – and many other top international routes – are also located in the Asia Pacific region.

RankCountriesCity PairFlights (Annually)Carriers
#1๐Ÿ‡ฒ๐Ÿ‡พ๐Ÿ‡ธ๐Ÿ‡ฌKuala Lumpur โ†”๏ธ Singapore30,1878
#2๐Ÿ‡ญ๐Ÿ‡ฐ๐Ÿ‡น๐Ÿ‡ผHong Kong โ†”๏ธ Taipei28,4475
#3๐Ÿ‡ฎ๐Ÿ‡ฉ๐Ÿ‡ธ๐Ÿ‡ฌJakarta โ†”๏ธ Singapore27,0467
#4๐Ÿ‡ญ๐Ÿ‡ฐ๐Ÿ‡จ๐Ÿ‡ณHong Kong โ†”๏ธ Shanghai20,6785
#5๐Ÿ‡ฎ๐Ÿ‡ฉ๐Ÿ‡ฒ๐Ÿ‡พJakarta โ†”๏ธ Kuala Lumpur19,7418
#6๐Ÿ‡ฐ๐Ÿ‡ท๐Ÿ‡ฏ๐Ÿ‡ตSeoul โ†”๏ธ Osaka19,7118
#7๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡จ๐Ÿ‡ฆNew York (LGA) โ†”๏ธ Toronto17,0383
#8๐Ÿ‡ญ๐Ÿ‡ฐ๐Ÿ‡ฐ๐Ÿ‡ทHong Kong โ†”๏ธ Seoul15,7709
#9๐Ÿ‡น๐Ÿ‡ญ๐Ÿ‡ธ๐Ÿ‡ฌBangkok โ†”๏ธ Singapore14,6985
#10๐Ÿ‡ฆ๐Ÿ‡ช๐Ÿ‡ฐ๐Ÿ‡ผDubai โ†”๏ธ Kuwait14,5814

The short hop between Singapore and Kuala Lumpur takes only one hour, and it connects two major Southeast Asian commercial hubs. The route has 41 flights per day between eight airlines, making it one of the most competitive routes globally.

The busiest international route outside of the Asia Pacific is between Toronto and New York (LaGuardia) with 17,038 annual flights. Interestingly, it only has three competing carriers – the lowest of any of the top 10 routes.

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Chart of the Week

Visualizing Africa’s Free Trade Ambitions

The Gambia recently became the latest country to ratify the African Continental Free Trade Area (AfCFTA), helping the landmark agreement reach critical mass to move forward.

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africa free trade

Visualizing Africa’s Free Trade Ambitions

A united African continent working towards common goals would be a major force on the global economic stage.

To this end, nations in the region have been working towards an ambitious plan to create the worldโ€™s largest trade area. The Gambia recently became the latest country to ratify the African Continental Free Trade Area (AfCFTA), helping the agreement reach critical mass to move forward.

Todayโ€™s graphic helps put the region โ€“ and the status of AfCFTA โ€“ into perspective.

The Patchwork Problem

One key to unlocking the region’s economic potential is making it easier for Africa’s 55 countries to trade with one another.

Currently, Africa is a patchwork of regulations and tariffs, and trade between countries has suffered as a result. For example, only 10% of Nigeria’s annual trade activity is with other African countries. This is a surprising given the country’s dominant economic standing and location firmly in the center of the continent.

As a whole, Africa’s intra-continental trade level hovers at just around 20%, while nations in Europe and Asia are at 69% and 59%, respectively. Clearly, there is a lot of room for growth.

What is AfCFTA?

AfCFTA is the biggest free trade agreement since the establishment of the World Trade Organization.

The objective of the agreement is to create a single continental market for goods and services, with free movement of business people and investments.

Last year, 44 African leaders signed an agreement to ratify AfCFTA, with half that number needed to move the agreement forward. Earlier this week, The Gambia was the 22nd country to announce that its government has ratified the agreement, meeting the threshold to officially put the wheels in motion.

We have witnessed a historic moment for the African Continent. AfCFTA is now set to become operational within
the month, creating a single continental market for goods
and services.

โ€“ Mark-Anthony Johnson, CEO, JIC Holdings

The good news for the agreement is that many of Africa’s largest economies โ€“ including Egypt and South Africa โ€“ are already on board. There is, however, one significant holdout.

The Elephant in the Room

Even though the threshold for pushing AfCFTA forward has been reached, Nigeria’s lack of commitment is still a major blow to the strength and credibility of the agreement.

Nigeria’s situation is complicated. The country’s economic prospects are bright, and Lagos is on a trajectory to become the world’s largest city over the next few decades. On the other hand, there is fierce opposition from labor unions, and the country is home to largest concentration of people living in extreme poverty in the world.

[AfCFTA is] an extremely dangerous and radioactive
neo-liberal policy initiative.

โ€“ Ayuba Wabba, President of NLC, Nigeriaโ€™s largest labor union

While the majority of African nations appear to be on board with the plan to enact AfCFTA, it remains to be seen whether Nigeria comes along for the ride or decides to go it alone.

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