Word: silicones
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...security systems for computers, could not survive without outsourcing. By lowering his development costs, the 18 engineers who work for him in India for as little as one-fourth the salary of their American counterparts allow him to spend money on 13 senior managers, engineers and marketing people in Silicon Valley. If he doesn't outsource, in fact, the venture capitalists who fund start-ups like his won't give him a nickel. Sharma's Indian-American team, tethered by a broadband connection, gets his product in front of customers faster and cheaper. "As a business, you have to stay...
From there, multinational companies began moving up the food chain. Silicon Valley, which for years had been importing highly educated Indian code writers--driving up wage and real estate costs--discovered it was a lot cheaper to export the work to the same highly educated folks over there. So did Wall Street, which employs an army of accountants, analysts and bankers to pore over documents, do deal analysis and maintain databases. The potential list gets longer: medical technicians to read your X rays, accountants to prepare your taxes, even business journalists to interpret companies' financial statements...
...phone about finding yet another error courtesy of their companies' in-house document service, they had an epiphany. They would find a better way of doing that work. This was at the height of the dotcom boom, and everyone they knew was trying to figure out a way to Silicon Valley. These two had a different idea. They would go to India, set up a team of accountants and desktop-publishing experts and persuade investment banks in New York to outsource their confidential financial documents and client presentations halfway around the world...
...boosted the valuations of several Internet service providers with its €3.9 billion offer for the 29% share of France's Wanadoo - Europe's second biggest ISP - it doesn't already own. And on Thursday Britain had its biggest tech IPO since 2000; shares in wireless microchip maker Cambridge Silicon Radio rose 23% in its first day of trading. Investment bankers predict a new wave of consolidation; Goldman Sachs estimates telecom firms will have...
Students could not access their e-mail late yesterday and libraries reverted to silicon-free technology for checking out books as the Faculty of Arts and Sciences (FAS) computer network was plagued with service interruptions...