Reading Your Brainwaves to Make Apps
Special to CNBC.com
Want to create the next cool app? You may no longer need a team of techies, just a headband, a venture capitalist told CNBC on Friday.
Using the Internet, "what's going to happen is that content producers are moving away from media companies to individuals," said John Frankel, partner at ff Venture Capital.
He touted the intellectual fruits of companies such as Gamesalad, Klout nd the Muse – which offers a headband able to telegraph brain activity of its wearer. Each project was being funded via Indiegogo, a "crowdfunding" platform that allows developers to tap into start-up capital from around the world.
The most innovative products often draw the most funding, Frankel said.
"How I make money is I find a really fascinating three or four people that want to change the world," Frankel said. "We give them money and we wait ten years, and then we get paid out."
Gamesalad is a platform that allows gamers to create video games without knowing how to write code. Frankel said that of the games offered via Apple, 20 percent of them were written using the Gamesalad application. "You drag and drop objects, so an eight year old or a ten year old can write a game that half a million developers are using this."
The Muse headband reads brainwaves, then runs complex algorithms that measures brain activity. ""The purpose is…stuff goes on in our head all the time. If you're ADHD, or if you're driving and you nod off, it's kind of useful to get a signal ahead of time."