Posts Tagged: "hank nothhaft"

Great Again: Revitalizing America’s Entrepreneurial Leadership

The magnitude of the problems facing our economy cannot be overstated. Neither can it be overstated that a coherent national innovation policy is the answer to what ails the U.S. economy. As Hank explains in the Introduction, “for the first time in our history, the connection between technological innovation and job creation has broken down. And for the first time also, the wealth created by innovation is going mostly just to a handful of founders and venture capitalists rather than to many thousands of employees, not to mention the community at large.” Through mismanagement and misapplication of tax, immigration and patent policies our leaders in Washington, D.C. have done us no favors. Speaking at the reception last night Nothhaft explained: “We live in the greatest country in the world and we seem bent on tying our arms behind our backs.” That has to change.

What Does the LinkedIn IPO Mean for Economy, Jobs?

It is still early to know whether this is irrational exuberance or whether this is a meaningful event for the companies that follow LinkedIn to IPO. In all likelihood it is a little of both, namely a meaningful event that demonstrates at least some irrational exuberance. With the economy and the IPO market having been in the tank for so long a little zeal never hurt anyone, right? In any event, regardless of what LinkedIn does from here on out the fury of trading and interest suggests that good things are on the horizon for the economy and perhaps for job creation as well.

Eating Our Seed Corn for Job Creation

Everywhere I go, I meet entrepreneurs whose ventures either failed or are slowly dying on the vine because of the outrageous delays they suffered in getting patents. Who would invest the huge sums needed to develop a new medical treatment, for example, without at least the promise of exclusivity and a return on their investment that a patent provides? But because of delays stretching up to seven or more years in getting a patent, these startups lost crucial funding opportunities—or in some cases, even went bankrupt—as a result of the backlog of 1.2 million applications now throttling America’s overburdened and underfunded “innovation agency.”

Patents, the Lifeblood of Innovation

Discoveries that lead to scientific breakthroughs that lead to engineering feats that turn discoveries and breakthroughs into reality takes time; a lot of time. A lot of time spent researching, discovering and engineering means a lot of money. Just look at the path we are taking with respect to various clean, green, alternative energy technologies. It isn’t like we don’t know what we are looking for, or what the holy grail is. It will just take decades to get there. Similarly in the life saving technology areas, such as biotechnologies, companies can easily spent a decade sucking in money and not being profitable. Without funding that which society, our leaders in DC and the Judges wearing the black robes all want cannot come into being, period!

Senate to Vote on Patent Reform, First to File Fight Looms

The Senate will take up patent reform on Monday, February 28, 2011, the first day back. Some are even anticipating that the Senate will vote on patent reform bill S. 23 late in the day on Monday, February 28, 2011. As we get closer to a vote in the Senate the rhetoric of those for and against is heating up to a fever pitch. The fight, once again, is over first to file, with battle lines drawn that run extremely deep. Senator Diane Feinstein (D-CA) is expected to file an Amendment stripping the first to file provisions, which could be supported by Senate Majority Leader Harry Reid (D-NV).