Andreessen expected that over the next 10 years many more industries would be disrupted by software, with new world-beating Silicon Valley companies doing the disruption in more cases than not.

Judge at the 2021 horizon. The claim has two parts: (1) between 2011 and 2021, many more industries (beyond those already disrupted in 2011, such as books, music, video and telecom) were disrupted by software, meaning software-based entrants took major share or forced deep structural change; (2) in most of those cases the disruptors were new Silicon Valley companies (founded recently and based in or from Silicon Valley/the Bay Area or its venture ecosystem). TRUE: both parts hold. Several further industries (e.g., taxis/transport, lodging, retail, payments/finance, automotive, advertising, enterprise IT) show clear software-driven disruption, and in most of them the leading disruptors were new Silicon Valley companies. MOSTLY TRUE: both broadly hold, with minor exceptions (e.g., the majority of disruptors being Silicon Valley companies is close, or a few listed industries are only partly disrupted). MIXED: part (1) holds but part (2) does not (the disruptors were mostly incumbents, non-Silicon Valley or non-US companies), or the reverse. MOSTLY FALSE: only one or two further industries were disrupted. FALSE: no significant further industry disruption by software occurred during 2011–2021.

Set before the research began.

1. E1 How Software Stifles Competition and Innovation Communications of the ACM (Opinion) · 1 October 2023

   “In fact, the actual rate of disruption has been declining in most industries, measured as the probability that a firm in the top four of its industry drops out of the top four.”

2. E2 How Software Stifles Competition and Innovation Communications of the ACM (Opinion) · 1 October 2023

   “The overall rate of disruption is half of what it was in 2000 and the decline is accounted for by the slower growth of innovators less able to leapfrog industry leaders.”

3. E3 Airbnb Is Additive to the Hotel Market While Uber Was Substitutive to Taxis Riffon · 1 January 2026

   “Uber directly substituted the taxi industry's core function.”

4. E4 Tech startups targeting financial services The Salt Lake Tribune (archived; syndicated news report) · 8 December 2016

   “About $850 billion in consumer banking revenue in the U.S. alone is at stake. Fintech captured just 1 percent of that last year, according to a Citibank study.”

5. E5 How Software Stifles Competition and Innovation Communications of the ACM (CACM)

   “In fact, the actual rate of disruption has been declining in most industries, measured as the probability that a firm in the top four of its industry drops out of the top four.”

6. E6 How Software Stifles Competition and Innovation Communications of the ACM (CACM)

   “In banking, the top four firms held 14% of the market in 1997; now they hold 20% and similar changes are also seen in most industries.”

7. E7 How Software Stifles Competition and Innovation Communications of the ACM (CACM)

   “Indeed, fintech firms have not become industry disruptors partly because the large banks have made it difficult for consumers to transfer their data.”

8. E8 How Software Stifles Competition and Innovation Communications of the ACM (CACM)

   “Walmart’s systems enabled it to better anticipate the needs of shoppers, disrupting Sears and Kmart in the 1990s, emerging as the dominant general merchandise retailer in the U.S. since then.”

9. E9 Short-Term Rentals: Airbnb's Dominance and Booking's Gains in 1 Chart Skift · 14 March 2025

   “Airbnb's market share rose from 28% in 2019 to 44% in 2024, while Booking.com increased from 14% to 18% and Vrbo decreased from 11% to 9%.”

10. E10 Short-Term Rentals: Airbnb's Dominance and Booking's Gains in 1 Chart Skift · 14 March 2025

    “In 2019, prior to the pandemic, Airbnb, Booking.com and Expedia/Vrbo collectively accounted for just 53% of global short-term rental revenue, according to Skift Research.”

11. E11 Tesla, BYD Lead Global NEV Sales in 2021 Equalocean · 30 January 2026

    “Eight of the top 20 brands are from China, including BYD, SAIC, Great Wall Motor, GAC Aion, Chery Auto, XPeng, Li Auto and Changan Automobile.”

12. E12 Duopoly still rules the global digital ad market, but Alibaba and Amazon are on the prowl EMARKETER · 10 May 2021

    “The duopoly of Facebook and Google still dominates digital ad revenues worldwide, but a collective rival from the ecommerce industry is showing momentum.”

Some evidence supports part (1) for particular sectors: E3 says Uber directly substituted for taxis, E9 shows Airbnb's share of short-term rentals rising, and E12 describes digital advertising as dominated by Facebook and Google. Other independent evidence cuts the other way. E1, E2 and E5 report that the overall rate of industry disruption fell, E6 reports rising top-four concentration in banking and similar changes in most industries, and E7 says fintech firms had not become industry disruptors. None of the evidence says where the disruptors are based or when they were founded, and E11 lists several Chinese brands among the top electric-vehicle makers. Since part (2), whether most disruptors were new Silicon Valley companies, cannot be judged and part (1) is contested, the evidence does not settle the claim under the criteria.