>> And the same process that created cheap and easy tools for software, the same process that dropped the cost of starting a SaaS business 10x will happen for robotics/ai/IoT.

So OK, we've got tools for the IOT(mbed/arduino, etc). The key question is - how do you protect your product from being rapidly copied by big competitors(or worse, china),when they are using those same tools ?

In web development, we did it by getting tons of users really really fast and using that as a tool. But hardware markets are much slower.

That leaves us having unique, well protect IP(if you want a unicorn). And maybe this can be created by a startups, but a totally different type of startup: Maybe based on long university research. Maybe based of on a group of exceptional multi-disciplinary people with unique skills working together - and not a bunch of kids with an idea.