Thursday, April 01, 2004

Outsourcing got you down?

Cringely blames VC gutlessness for delaying the next tech boom

"Here is my solution to adding jobs to the jobless recovery, to bringing Silicon Valley back to life, and to taking outsourcing and offshoring off the front page. Next week, Every venture capital firm in America should take five percent of its available funds and invest that money with best deals they’ve all had sitting on their desks for months. It doesn’t matter what the startups are. Give them the darned money, which I calculate to be about $5 billion spread across a thousand new companies. It isn’t tax money, government money, money taken away from education or Medicare. Its just money that was already intended for high-tech investment -- money that probably would have been lost anyway. INVEST IT! Stop trying to pretend you are so smart or that your input and board membership really makes a difference (it doesn’t -- you heard it here first) and write the checks."

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