It's difficult to read the news today without feeling depressed. Each day brings new reports that the business world is going from bad to worse and that an economic turn around is not likely to happen for some time to come. Who can pull us out of this downward spiral? Peggy Noonan, current Wall Street Journal columnist and former presidential speechwriter, suggests in today's Wall Street Journal that it will be the technology entrepreneur:
"Dynamism has been leached from our system for now, but not from the human brain or heart. Just as our political regeneration will happen locally, in counties and states that learn how to control themselves and demonstrate how to govern effectively in a time of limits, so will our economic regeneration. That will begin in someone's garage, somebody's kitchen, as it did in the case of Messrs. Jobs and Wozniak. The comeback will be from the ground up and will start with innovation. No one trusts big anymore. In the future everything will be local. That's where the magic will be. And no amount of pessimism will stop it once it starts."
Innovation now!
1 comments:
I don't remember where I heard the quote (or who said it), but it went something like, "exuberant crowds create bubbles but it takes sober individuals to recover from them." To me that means that bubbles can be "led" up but recoveries not so much. Think about it, who led us out of the tech crash in 2001? Or the Great Depression for that matter? It wasn't really one industry or sector it was everyone pretty much struggling through it themselves.
That's my $0.02.
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