O'Reilly, whose book, "The Whole Internet User's Guide & Catalog," was selected as one of the most significant books of the 20th century by the New York Public Library, said innovation in technology has turned to the "mad pursuit of the buck with stupider and stupider ideas," the Los Angeles Times reported Friday.

"Simply providing technology that can be used for positive causes can have an enormous impact," O'Reilly said. He is urging companies to move away from mind-numbing, thumb-mashing games to "work on stuff that matters," the Times reported.

Promoting a more serious side to the technology revolution, O'Reilly invited former Vice President Al Gore to speak at his November Web 2.0 conference titled "Web meets world," the Times reported.

"The opportunity to focus technology and tech entrepreneurs on the unaddressed, underserved segments of society is enormous," said Jim Schorr, a frequent speaker on entrepreneurship issues at University of California's Berkeley's Haas School of Business.

"Developing and extending technologies with limited profit potential, using market-driven approaches, can deliver both social and financial impact and sustainability," Schorr said.