A very disturbing piece from Michael S. Malone about the “hollowing out” of America’s innovation capital, Silicon Valley. It seems there are no new start-ups, due to lack of venture capital, onerous regulations from Washington (that make it damn near impossible to do an IPO), etc. If America loses the mantle of world’s innovation engine, what will we have left?
One of our salesmen, David Denny and I were discussing the similar problem (on a much smaller scale) in southwestern Virginia. Whether you care for the current crowd in Washington or not, the level of uncertainty they’ve created continues to suppress investment. That cannot be denied.
Where are these investors going to go? My bet is that in the future they will find a fertile garden in China and India. Chinese and Indian students are the academic core of many American universities these days, and why not go home where the government will pay you to market the next great idea?
Talk about shooting yourself in the foot…