The Internet is now being called the first global colony of the global economy. The United States today is attracting young entrepreneurs from all over the globe. They are attracted by an entrepreneurial climate of venture capital financing, close ties between businesses and universities, flexible labor markets, a deregulated business environment, and a culture that celebrates risk-taking, ambition and getting very, very rich. Technology is changing the way we work, live and play. Technology is driving GDP, productivity growth, and is keeping inflation down.
Technology is a major driver of wealth creation.
The pace of technological development is rapid and the evaluation of emerging technology is complex. This week, the Nobel prize in Physics was awarded to three scientists who pioneered work on the microchip and semiconductors in the late 50's and early 60's. The inventor of the transistor received a Nobel prize in 1956. This truly changed the world. Mathematics, Science and Engineering took center stage.