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Obama Announces $2B Fund for Startups

whitehouse.gov

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Re: Obama Announces $2B Fund for Startups

#61

Post by mkramlich »

paul wrote: post #19
gojomo wrote: post #3

Let a thousand Solyndras bloom! But seriously, exempting smaller firms and fundraising efforts from costly regulations is a good part of this initiative. Routing public funds through private investors, not so much. While they're at it, they should completely eliminate the wealth tests for 'accredited investor' status. If some fig leaf of 'accreditation' is still needed, it should be experience-based or net-worth prop…

I don't recommend angel investing for anyone who can't afford to lose a fairly substantial amount of money, which pretty much excludes anyone who isn't already an accredited investor. Finding the next Facebook or Google is a lot harder than you might think, and even if you did, they probably don't want your money. You are better off investing in your own self (education and the like). Eliminating the wealth test woul…

> You are better off investing in your own self (education and the like).

agreed, and wise. my attitude towards eating and exercise changed significantly once I looked at it as a form of investment. Only one that didn't take much money to do, mostly a little time and making different choices. A little life hack.

Re: Obama Announces $2B Fund for Startups

#62

Post by timjahn »

stanley wrote: post #28
timjahn wrote: post #18

Throwing $2B at startups isn't going to create a new generation of entrepreneurs. 1. Fix the healthcare system. Right now, you're punished if you don't work for a large company in the sense that you're charged up the wazoo for health insurance. Work for a large company and it's close to free. 2. Fix student loans. One could argue don't go to college but I think we can agree there's some value to good schools. 3. Educ…

I wholeheartedly agree with your first two points. On that last note, I think we're already far ahead of the curve when it comes to entrepreneurship. We're encouraging our kids to take chances, but giving them little when it comes to financial education. I think that alone contributes to the large amount of debt per capita in this country. But since we're on the topic of entrepreneurs, good ideas don't succeed on the…

You're spot on with your last point. More financial basics education is needed.

Re: Obama Announces $2B Fund for Startups

#63

Post by timjahn »

mkramlich wrote: post #54
timjahn wrote: post #18

Throwing $2B at startups isn't going to create a new generation of entrepreneurs. 1. Fix the healthcare system. Right now, you're punished if you don't work for a large company in the sense that you're charged up the wazoo for health insurance. Work for a large company and it's close to free. 2. Fix student loans. One could argue don't go to college but I think we can agree there's some value to good schools. 3. Educ…

I'm doing my part to help with #3. If more people would take direct action, in large numbers, we can move the needle. Identify bureaucracy/obstacles? Route around them. ps. well said. and extremely agree on #1.

Exactly. If each person does a little bit to advance us forward and educate our youth, that needle will move.

Re: Obama Announces $2B Fund for Startups

#64

Post by brerrabbit »

ryanackley wrote: post #41
timjahn wrote: post #18

Throwing $2B at startups isn't going to create a new generation of entrepreneurs. 1. Fix the healthcare system. Right now, you're punished if you don't work for a large company in the sense that you're charged up the wazoo for health insurance. Work for a large company and it's close to free. 2. Fix student loans. One could argue don't go to college but I think we can agree there's some value to good schools. 3. Educ…

fix student loans I put myself through school on a student loan. I was very grateful for it. I was charged a reasonable tax deductible interest rate. So I'm curious about what is actually broken?

The investment itself should be tax deductible. The payments themselves should be rather than just the interest. If you freelance at night to pay off your loans, then you basically have to earn almost twice as much as you owe due to the taxation on the additional "income."

Re: Obama Announces $2B Fund for Startups

#65

Post by mkramlich »

CrazyInu wrote: post #46

Maybe Obama should stop "investing", we've seen how that turned out with Solyndra, Light Squared, Fisker Automotive, etc. Maybe Obama and the Federal government shouldn't be in charge of "fixing" economic aspects of society, as that is not what the founding fathers of this country intended, and that is not really within the authority of Congress. Government picking winners and losers is a proven way to eradicate inno…

> Maybe Obama and the Federal government shouldn't be in charge of "fixing" economic aspects of society, as that is not what the founding fathers of this country intended, and that is not really within the authority of Congress.

demonstrably not true. think the US federal postal service, department of treasury, the patent system, right to regulate and tax trade. All of which helps to both "fix", promote and tax economic activity throughout the nation. Also keep in mind that those same founding fathers whose "intent" you seem to want to honor, birthed a country where neither women or black people (for the most part, as slaves) were not allowed to vote. So unless you agree with that original state of affairs, clearly their intent can be wrong or evil, in some cases. And therefore just citing their intent is not sufficient to win an argument.

Re: Obama Announces $2B Fund for Startups

#67

Post by marcamillion »

fleitz wrote: post #2

$1 trillion for banks, $1 billion for startups, you can really see how important this administration feels startups are. Why not just tell banks, lend half the money we're giving you to startups, instead of using it to prop up your balance sheets.

Because a) that would be wreckless and create more problems for the economy - i.e. handing out a few 10s of billions to startups, b) the banks DO need to prop up their balance sheets - we can argue about the reasons until the cows come home, but if they don't increase their capital, they will take down the entire financial system, and c) the last thing a startup (well, a 'startup' in the Valley/high-tech definition) needs is a loan from a bank.

I understand your frustration with the way the economy has performed (or not) in the last 2 years, and the seeming 'cronyism' that Obama has enacted - but the fact remains that if he didn't do what he did...we wouldn't even be having this discussion now. There is no telling what state the US would be in, after the rioting and such.

I know it's hard to envision, but believe me....rioting on a wide scale and massive police crackdowns (on a scale America has never seen) could not be ruled out.

Re: Obama Announces $2B Fund for Startups

#68

Post by thmcmahon »

rbanffy wrote: post #53
anigbrowl wrote: post #42

Earlier quoted context omitted.

Congress has to do that, the executive branch can't. To the extent that the executive branch is streamlining the existing immigration system, they're being derided as amnesty-offering traitors by the xenophobic know-nothings that want Berlin Wall 2.0.

Just as a side note, you really don't want an executive branch that can do that (fixing the immigration and patent systems). edit: sorry if it didn't end up as clear as it should

Works OK for countries with parliamentary democracies.

Re: Obama Announces $2B Fund for Startups

#69

Post by politician »

gojomo wrote: post #3

Let a thousand Solyndras bloom! But seriously, exempting smaller firms and fundraising efforts from costly regulations is a good part of this initiative. Routing public funds through private investors, not so much. While they're at it, they should completely eliminate the wealth tests for 'accredited investor' status. If some fig leaf of 'accreditation' is still needed, it should be experience-based or net-worth prop…

$2B, right? So, that'd be 4 Solyndras.

Re: Obama Announces $2B Fund for Startups

#70

Post by Androsynth »

mkramlich wrote: post #59
gojomo wrote: post #3

Let a thousand Solyndras bloom! But seriously, exempting smaller firms and fundraising efforts from costly regulations is a good part of this initiative. Routing public funds through private investors, not so much. While they're at it, they should completely eliminate the wealth tests for 'accredited investor' status. If some fig leaf of 'accreditation' is still needed, it should be experience-based or net-worth prop…

> Let a thousand Solyndras bloom! lots of alt energy companies? you bet. risky? of course. will some fail? always. do people make mistakes? yes. would you prefer instead that a thousand new Wall Street firms bloom? a thousand new oil companies? And Solyndra's cost to taxpayers, and impact on debt, is a tiny tiny drop in the bucket compare to what's been spent on Iraq and Afghanistan, or the Bush tax cuts for the rich…

I would rather the govt fund the research being done by the phds to develop the technology, then let them start their own companies.

The US (especially the valley) has no shortage of funding for startups.

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