Venture backed startups
Juan Enriquez, a leading authority on the economic and political impacts of life sciences, gave his annual talk at TED this year and had some great insights. His presentation was called “Beyond the crisis, mind boggling science and the arrival of Homo evolutis.” Besides his perspective on the singularity, as in “The Singularity is Near” by Ray Kurzweil, he had an interesting take on the economy. If you don’t check out the entire 18 min video, go to min 7:00. He talks about how venture backed startups are 0.02% of the GDP investment but generate 17.8% of the output. As he states, these companies are the future of the U.S. economy.