So my endavours in Fund Raising continues and I have to say that I’m not necessarily getting a mixed bag of views on the economy and my prospects. Its generally quite negative to say the least. With the ression and the crisis in the VC community going on a lot of people are saying, that “this is not just a bad time to raise money but I think the money has dried up in the US”
My reaction “!!#!@$#@!$, Really”.
There has been an awful lot of negative press in the media about how this recession is probably the worst in history and that there is no way to pull out of it, aka “the sh*t has hit the fan”. People have started to say “Rome is burning and its time to find the fire exit”.
Sure if you start reading 10 articles daily on how the US economy is going to drown into the annals of financial lunacy and never to emerge again, you start to think and accept the thought that, “maybe it is true! Maybe this is the end”. But on a recent meeting with a really good and smart friend of mine I got another perspective, “There is a Fire in Rome”.
His view is that the US has more natural resources than anyone in the world and also the largest knowledge base out there. If we look at countries like India and China, yes they have the labor but what about skills, education, R&D!! The US leads everyone in this regards. It will take forever for a lot of countries to catch up. 3/4th of India is still poor no matter how progressive they seem and freedom is an issue in China. And most of all the average GDP per capita in America is approximately $44k, that is a lot of money.
So those screaming that the end of the US is upon us, sorry to burst your bubble but its not going to be anything like the demise of pervious empires!! The political domination is truly near its end but with regards to the economy, we’re simply going to get bought out by free market forces!! Many people have a lot vested in the US to see it simply disappear.
- Farhan Abid
