There is also a lot of really important "high hanging fruit" that needs to be done (for example real education for the entire world).
Thiel often says something to the effect of that when he worked out the value of Paypal, that the major value really came ten, twenty years later. So it would be important to focus on looking at those companies which could have a reasonable chance of having that kind of longevity and not worry so much about big spikes in valuations in the here and now i.e. sustainability was the major driver of returns vs the attraction of viewing investments as being lottery tickets.
The same thing is almost certainly true of the Net+Education. The major structural change the Net brings to advantage our lives probably doesn't exist yet or is in very nascent form. Either way the good stuff will take considerable time to mature to get us to that high hanging fruit.
Education in particular has so many sacred cows blocking the way to improving it. We do need some of your 'Whoosh' moments to break the conventional wisdom[s] that exist about Education though. It is more than possible that The Young Lady's Illustrated Primer and VR and transcranial monitoring/stimulation are the wrong paths.
We'll probably make horrible mistakes you know, but the Net is kind of like a giant Undo button that should allow us the ability to retrace our steps to where the initial error got made.
Whatever happens, a whole lot of ox is going to get gored! :-)
What do you think about Urbit?
It seems to represent a fresh new start!