Time to leave my Winter sports and return to engineering. Recently I posted how I disagreed with Thomas Friedman ... the world is not flat ... instead I posted that it is a "Hodge Podge World" (includes my video presentation). I may have disagreed with Friedman in this arena, but his arguments from his recent Op-Ed piece in the N.Y. Times have a lot of merit. He states:
"You want to spend $20 billion of taxpayer money creating jobs? Fine. Call up the top 20 venture capital firms in America, which are short of cash today because their partners — university endowments and pension funds — are tapped out, and make them this offer: The U.S. Treasury will give you each up to $1 billion to fund the best venture capital ideas that have come your way. If they go bust, we all lose. If any of them turns out to be the next Microsoft or Intel, taxpayers will give you 20 percent of the investors’ upside and keep 80 percent for themselves.
If we are going to be spending billions of taxpayer dollars, it can’t only be on office-decorating bankers, over-leveraged home speculators and auto executives who year after year spent more energy resisting changes and lobbying Washington than leading change and beating Toyota."
I think Mr. Friedman makes a lot of sense. Read his entire column.