Here are my off-hand thoughts on them.
It used to cost a lot to develop even v1 a product, because most of them were physical. So companies took care to validate the need first. Now it’s much cheaper and quicker to build a v1 so people build first.
This is plausible. I like this suggestion.
Earlier it was much easier to know what your customers want. This was because a lot of things were physical therefore more easily observed in person
There’s something to this thought, but I’m not sure I buy it completely.
Many (including Reis) have argued that now it’s actually easier to know what customers want — especially with software — since we have analytics, etc. That seems at least partially true.
I’m also sure I buy the idea that physical products are easier to observe in person. It seems like we can just as easily observe someone using software as we can observe someone using a physical product.
Investments were done by large companies internally, not by VCs where every company is an experiment. So you don’t get to hear much about the trials and errors of large company internal experiments. But when a large number of startups fail after raising a lot of money and wasting many years, more people care to find out why.
I don’t think I fully understand the reasoning here, but entrepreneurship, from what I understand, has actually been declining for a bit. I think that cuts against this as possible reason.