Sun Microsystems' billionaire co-founder and Khosla Ventures founder Vinod Khosla reacted to the Dell-EMC merger saying it would set back innovation.

The $67-billion Dell-EMC merger, Khosla said, is a sound financial move, but not conducive for any big technology change.

Criticising the big guns of the IT industry, Khosla said: "They've not introduced what I consider one new idea over the last 30 years. Mostly, they've spent their last few years engineering financials."

Speaking at the Structure conference in San Francisco, he said: "I think most of the innovation, 80% of it or 90% of it, will come from startups."

The venture capitalist, talking about the future of the IT industry, said the he doesn't expect companies like IBM, Cisco, Dell, etc, to be around in the future.

Putting utmost focus on innovation, he said startups and established IT companies can be in a symbiotic relationship. He believes the availability of new technology will benefit the larger organisations and startups will benefit from the market position of large businesses, reports

Khosla, who has invested startups like in Mesosphere, a company that is commercialising the open-source Apache Mesos project, and Nutanix, an enterprise virtualisation and storage company, and until recently had been a board member of Square Inc, says he looks at "who's inventing the future that's dramatically changes the world" while investing, reports Yahoo Finance