Word: silicones
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...jobs." So says Democratic National Committee chief Terry McAuliffe and just about every Democrat alive. How can anyone believe this? Clinton did not create any jobs. Bill Gates did. Andy Grove did. Jeff Bezos did. In fact, they created an industry. The '90s were a decade when the silicon chip met the "peace dividend" - billions saved by the ending of the cold war - and gave us an economic boom. Clinton deserves credit for not getting in the way. He fulfilled the economic Hippocratic oath: first do no harm. Not screwing up a boom going on around you, however...
...experts say those barriers had been firmly in place since the mid-1980s. But if blame for insufficient terror-fighting tools is being doled out, maybe Ashcroft is in for a bit too. When Janet Reno's Justice Department protested efforts in the 1990s to make it easier for Silicon Valley to export encryption technology overseas, then-Senator Ashcroft seemed unconcerned with her contention that terrorists were turning to Internet encryption to communicate. One example she, FBI head Louis Freeh and others in law enforcement cited: Ramzi Yousef, mastermind of the 1993 WTC bombing, used encryption to hide details...
...scene inside eerily echoed my previous stint in California when the dotcoms were still in bloom. By the time I returned to the East coast in 2002 the country had grown weary of overhyped Websites, corporate greed and generally arrogant business people. The recession decimated the Silicon Valley economy as untold billions evaporated in the California sun. Many reckoned that it was the end of California's reign as a place that could fuel innovation or generate significant growth for the U.S. economy. World events took center stage, the military geared up for war and here at home we hunkered...
...corporations are abandoning a method of compensation that effectively let talented workers place big bets with their careers. Without stock options, we might not see the same level of frenzied startup activity prevalent during the late 1990s. The other big difference is that many of the venture capitalists in Silicon Valley are still smarting from the last round of layoffs and drop-offs in tech stock prices. Sure, hope springs eternal, but that might only stretch so far given that they've seen the dire effects of old investing habits...
...have a chance of hitting it big and finding a supercharged Googleified rocket ship. As I drove out of the parking lot and cruised up 101 North toward San Francisco, the sun was shining brightly, the fog had lifted and it was as if the whole of Silicon Valley cried out, "We're baaaaack...