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Previously in this space, I’ve discussed the collapse of the venture industry since the bloodbath began with the collapse of two Bear Stearns funds. While publicly traded stocks have been hammered, the private market is undergoing its own painful restructuring. As of the first quarter of this year, available venture capital had collapsed to 2003 levels.
So, you’re an entrepreneur with a great idea? Too bad your inspiration arrived in the worst economy since the Great Depression, complete with a meltdown of the venture capital industry. What’s left on the charred landscape? The fact is that no one gets boatloads of seed capital anymore — especially not anyone with a technology that will eventually require large capital expenditures.
So, you’re an entrepreneur with a great idea? Too bad your inspiration arrived in the worst economy since the Great Depression, complete with a meltdown of the venture capital industry. What’s left on the charred landscape? The fact is that no one gets boatloads of seed capital anymore — especially not anyone with a technology that will eventually require large capital expenditures.
On September 9, President Obama named Ron Bloom, a veteran of Wall Street and the labor movement, to be the new special adviser on manufacturing. As manufacturing represents an 11 percent share of the GDP, down from 30 percent in the 1950s, presumably the hope is that a Manufacturing Czar will be able to reverse this trend.
Young folk under 30 may not remember this, but years ago “plug and play” referred to hardware installation for computers. As the information revolution penetrated American households, consumers demanded setup procedures that did not require an advanced degree in computer science. Today, this process is standard for almost all hardware. This plug-and-play mentality has transformed consumer expectations.