Andy Grove, leader of Intel for many years, recently talked at length with Bloomberg news about the need to create U.S. jobs and to scale American production facilities.
Grove's comments are not light nor fluffy nor fun. But, we think he makes an excellent case for changing the way we as a society — and as business owners — look at start-ups, jobs, and the loss of manufacturing to foreign nations.
Venture capitalists require start-ups to have a "China strategy", meaning a plan to move production to China at some stage of the company's development. Instead, Grove argues, "VCs should have a partner in charge of every startup's 'U.S. strategy'."
"... plowing capital into young companies that build their factories elsewhere will continue to yield a bad return in terms of American jobs," Grove asserts. We think in this time of profit recovery but job stagnation, we should act on Grove's insights.
Charles R. Sterck
CPA and Partner
For Your Economic Future, Read What Andy Says »
