Taking on Friedman
2010-06-16 18:50:22.1871+00 by
Dan Lyke
1 comments
I'm going to take a bit of issue with Glenn Kelman: What the Government Could Really Do to Support Entrepreneurs. It's not that I don't like seeing Thomas Friedman get smacked around a bit and watching Glenn fact-check his ass hard, it's statements like:
Finally, Friedman talks about policies that “encourage private investment.” He seems oblivious to the fact that too much money is what’s breaking venture capital right now. We don’t have a shortage of capital, or even a shortage of ideas. We have a shortage of engineers.
Perhaps it's a bit of a conflation of "scientist" and "engineer", but as was discussed yesterday that doesn't seem to be the case.
[ related topics:
moron Economics
]
comments in ascending chronological order (reverse):
#Comment Re: made: 2010-06-18 16:58:38.179992+00 by:
TC
Friedman is personal hero of mine, I think has a rare ability to look at complex
issues and distill them manageable thoughts. Yeah he gets it wrong sometimes or
dare have an opinion not aligned with my own, if he and I disagree I go back and
look at my position reeeeeeal hard. I don't think that chart accurately gages the
lack of faith in the recovery and general FEAR in investing. To be crass about it
GREED has to trump FEAR for the VC cycle to work. Thats not happening right now.
The attitude now is "You first" and if things look good for a while I'll consider
entry. So capital is waiting for recovery before investing but recovery is
depending investment (note circular logic) . I don't think this is a bad thing. A
slower recovery will be more steady and a new(well actually it the old way)form of entrepreneurism will emerge. I'm tired and annoyed of people making money with
money(and nothing more) that don't provide anything more than capital liquidity.
People making money with ideas, sweat and passion will give us a future. hmmmm
sorry rant switch got stuck