Saturday, July 16, 2011

Why Silicon Valley needs more money than NYC; wealth of a nation

Historically, before computers, I think Wall Street served a good purpose. It's ultimate goal was to make sure that great people who could transform the world had the resources needed to do so. The need to coordinate money into the hands of people who can use that money to create wealth is still needed. It's why the world needs investors. However, do we need Wall Street? Do we need the exchanges? Do we need Goldman Sachs?

These are fundamental questions. I don't know the answer, but I'm willing to bet the answer will converge to "No".

I think there is an opportunity for silicon valley to disrupt wall street.

I view wall street in aggregate as corrupt these days because it isn't about creating wealth; it's about managing and optimising money. Money is not wealth. I internally cry a bit when I see a math/computer science major head for NYC to make money. Will they make money? Yes. Will they make wealth for the nation? No.

I'm not really going to defend what I feel. I don't want too. I feel like Silicon valley needs to over-turn Wall street to change the leaders of the country.

We need people who want to make life better for everyone rather than exploit people with complex rules and financial instruments.

I believe we can build a better and brighter future.

The wealth of our nation has been derived from our ability to say "Fuck you nature" not "Let's subordinate most of the country to poverty".

When I look to silicon valley now, I see we are solving communication. This crazy thing called the Internet gives us new tools and new vehicles. I expect us to be able to vote from home. I expect us to remove the computational barriers that forced hierarchy on us. I expect the social web and the Internet to transform us into a culture of a switch rather than a hub.

I expect better out of us.

No comments:

Post a Comment