Tuesday, September 19th, 2006
The Birth of Web 2.0
Found this article interesting over on Business Week detailing how our ‘horrible’ healthcare system is one of the primary buoys of our current economic growth. Unfortunately it’s not sustainable, which will cause cutbacks in spending, forcing the healthcare industry to look for ways to improve efficiency. The government can do a lot in this area as well to help streamline the system.
I also found this little blurb within the article interesting as well -
Perhaps most surprising, information technology, the great electronic promise of the 1990s, has turned into one of the biggest job-growth disappointments of all time. Despite the splashy success of companies such as Google (GOOG ) and Yahoo! (YHOO ), businesses at the core of the information economy — software, semiconductors, telecom, and the whole gamut of Web companies — have lost more than 1.1 million jobs in the past five years. Those businesses employ fewer Americans today than they did in 1998, when the Internet frenzy kicked into high gear.
I would guess the people in Silicon Valley grew tired of sitting around without a job, so they started web 2.0 companies. Most web 2.0 employees are probably considered unemployed. I wonder if we’d be seeing this kind of entrepreneurship if the level of federal and state unemployment benefits was signifigantly higher than it is today?
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