While Washington fiddles while Wall Street burns, many start-ups and smaller businesses are bracing themselves to see how this is going to play out in the weeks, months and even years to come.
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We're going to need them. I forsee many new problems begging for answers.
Some thoughts on recent events and you, dear reader:
- There's goes your next round of funding. Time to start thinking about "Plan B". For starters, slow down the burn rate. Figure out how to do more with less capitol up front, like pay-as-you go cloud computing and off-site data storage.
- If you're a fledgling eTailer... I won't even finish that sentence.
- I've recently been turned onto USC Professor Jon Taplin's blog. He has some interesting rants about the financial crisis making the case that a recovery will require more than a government bailout. He contends IT and energy technology are our best hope of restoring and overhauling this badly bruised, if not broken economy. IT and ET; that means you folks! Why? How?
"Just recapitalizing the banks is not going to revive the economy, The economy is going to have to be spurred to be a much more production-oriented economy, rather than a consumer-oriented economy. Seventy two percent of our economy is based on people going to the mall. That's not a competitive situation when you have a Chinese economy in which 65% of the economy is based on producing real stuff." - Professor Jon Taplin
That real stuff would be IT and ET products and services.
I'll leave it here for for now.
p.s. Today's headline is, of course, an homage to Bette Davis from the movie, "All About Eve".
Last updated: Oct 1, 2008
RENEE ORICCHIO is a technology writer and former supervising news producer for CNN Financial News. She has been covering the computer industry since 1987. @oricchio