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Old 10-13-2008, 01:35 PM
 
Location: Zurich, Switzerland/ Piedmont, CA
32,394 posts, read 55,240,452 times
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Silicon Valley is about innovation for the sake of innovation and not ego, power trips and greed. I dont know if that's transferrable on such a broad scale to Wall Street and the halls of government.

An S.O.S. To Silicon Valley - Forbes.com (http://www.forbes.com/technology/2008/10/09/mitra-economy-mess-tech-enter-cx_sm_1010economy.html - broken link)
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Old 10-13-2008, 01:55 PM
hsw
 
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SV tech innovation is similar to Greenwich and Manhattan financial innovation...lots of smart, young guys innovating to make a few bucks for self and their investors (lots of pension funds, college endowments, etc are investors in major hedge funds, venture capital funds and private equity funds)...those who don't make bucks (or lose money) are quickly abandoned by smart investors.....not much worse than a poor geek.....tech and finance are both Darwinian industries in a capitalist economy....

Some tech and financial innovation is incredibly useful and enhances productivity, etc....much other stuff may make bucks by convincing people to spend money (that they may not have) on an overpriced house, new smartphone, on-line search-related ads, extra-large portions of unhealthy foods/soft drinks, etc...stuff of dubious value to society...

Advantage of modern era is that many smart, retired financiers (like Mike Bloomberg, etc) are eager to be more involved in government....so we may have smarter politicians and Treasury Secretaries than at anytime in history....but definitely a complex world, esp when most politicians and the general public have a rather poor understanding of basic economics, business, finance...and reading and counting...
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Old 10-13-2008, 03:37 PM
 
Location: yeah
5,716 posts, read 14,583,823 times
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There was a blog entry in SJI this morning from a local councilman. He talked about tech companies bringing back formerly outsourced manufacturing jobs to the valley because costs of fuel and such made the old model unprofitable. Kinda interesting how the industry is building out the other end now.
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