Follow @hidrees

  1. Techonomy 2011 

    Techonomy is an invite-only conference that is in session from November 13-15 in Tucson for 2011. As the name suggests, it’s a conference that looks into how Technology affects our (the US’s) economy.

    I was live streaming the event and didn’t catch most of it because I have a day job that requires my attention, but I did listen to a very interesting panel on Jobs in the Digital Age. Panel members included Steve Forbes (CEO of Forbes) and Steve Case (Revolution LLC) Here are my notes from it:

    • Immigration is insane in the United States. Universities in the US attract the brightest minds from around the globe bar. Once these people have received the best education, our immigration system forces them to leave the country.
    • There are less start-ups today. There are 23% less start-ups today than the 70’s. If we had maintained the number of start-ups, we would have 2 million more jobs today.
    • The system for investing in new businesses is flawed. You don’t have to be an accredited gambler to invest $10M in Vegas, but you need to be one to invest $10M in a small business.
    • The key lies in the dollar being stabilized.
    • Tuition is increasing too much for people who want to receive an education to do so. This is important to note because the job market for people without a university education is the worst. The market for grads has barely changed.
    • Health care should become a free market. Do you realize how ridiculous it is to not know how much any health care service costs? If you walk in to hospital in the US right now and ask them how much a service costs, they will look at you like you’re either very poor or a foreigner. Swap “medical service” with a bottle of wine and you realize it’s absurd. You’d never order a bottle of wine without looking at the price and letting BlueShield take care of it.
    • If trashing money was the way to go, Zimbabwe and Argentina would be ruling the world.
    • In 5 years, the dollar should be pegged to the gold.
    • Apple, Microsoft, HP were all start-ups once upon a time.