It's not as easy for startups to create vertically integrated hardware devices these days.
In 2007, it was the Social revolution.
There's always opportunity, you just need to find what is now worldchanging, which would be difficult, expensive, or plain impossible before.
Secondly, even in hardware, there are opportunities like Kickstarter where anyone bold with a well-presented or confident idea can get some backing. There's a bottle-opening-iPhone-case on there (something that might be presented as a sketch on a comedy show and ridiculed) with $20-30k behind it! I was hoping that was a joke.