Spencer Trask Blog
Do Good or Do Well? – Why Not Do Both?
Another year has come and gone and for many ‘well off’ Americans, it was another season of ritualistic year-end tax planning. Decisions abound: to take some gains to offset some losses or not; to move to tax free instruments or stick with “taxables”; to change the portfolio allocation percentages or stay the course; to increase investments in more speculative, high risk/return equities or keep ‘powder dry’ even though it yields negative returns on cash; and the inevitable choices related to philanthropic and charitable giving.
Most Americans are generous at heart and willing to share some portion of their financial success with organizations of all sorts – religious, public good/social benefit, health related research, etc. – and donated $290 billion in charitable contributions alone in 2010. Of that staggering amount, about $211 billion, nearly three-quarters, was donated by individual taxpayers, not corporations, foundations, etc., but American people hoping to make a difference in the world, to help the sick, provide for the poor, find cures for the world’s chronic ills, fund research into breakthrough innovations and numerous worthy and laudable causes. In short, Americans are generous, want to “Do Good” and are willing to share their success with organizations which support a wide range of worthy initiatives.
Jobs (the lack of) + Jobs (Steven P.) = The Resurgence of Entrepreneurism in America
As has been the case over time, changes in the nature of our economic institutions typically require cataclysmic events to alter the conventional wisdom, the rate of change and the most basic aspirations and expectations of the workforce – particularly amongst the younger population entering the workforce from academia. The U.S. has always been considered the world’s leading innovation/entrepreneurial factory. In the post-Industrial Revolution of the late 19th and early 20th centuries, the career paths of those entering the workforce were limited – railroads, shop floor manufacturing, government/public service, auto industry, public utilities and a handful of other emerging industries were the targets of the new workforce. The mantra was – get a job at a company with stability, benefits, growth potential and a steady, predictable income - in essence, become a ‘salaryman.’ Invention, innovation and entrepreneurism were the bastions of the highly intellectual, well-educated (and somewhat eccentric) scientists whose passion for breakthrough inventions carried them through years of trial and error, false starts and near starvation. Some – think Thomas Edison amongst others – transformed their brilliance, passion and creativity into breakthroughs that have totally reshaped the planet and all of its inhabitants. The large majority of the others remain nameless to history.
Have We Seen The Last New Social Network?
Opportunities for social networks in business, consumer markets, and non-profit arenas are prevalent. They not only revolve around providing the infrastructure and technology which enables the creation of focused communities with common interests, but also provide a shared experience where people can exchange information, interact, strengthen and expand existing relationships, and foster new one with like-minded individuals for a greater purpose. By doing so, users find themselves engaged and satisfied.
Angel Investing for Everyman
REID HOFFMAN, chairman and co-founder of LinkedIn Corp. Bloomberg News
Investors in very early stage companies, known as Angels, have been glamorized and idolized by everyone from Hollywood to the blogosphere. They have become the new American Dream – modest wealth turned into fame and fortune by a single smart investment. Think Groupon, Facebook, Pandora, Twitter and LinkedIn — Angels invested a relatively modest sum of, let’s say, $500,000 only to watch it grow zeros in front of the decimal point.
An Incubator for the World
A kayaker in Jamaica Bay | NY TimesIt is said there is a place in New York City where “nature is so dominant that it makes the city a backdrop.” That place is Jamaica Bay and its plight was featured on the front page of Friday’s Metropolitan section in the NY Times, “Jamaica Bay: Wilderness on the Edge.”
Tax Incentives (Startups + Angels) = Job Creation
As part of the Boston Region Entrepreneurship Week (BREW), Spencer Trask will be hosting a panel discussion on Friday, October 15 entitled: “Building a New Framework for Economic Sustainability through Entrepreneurship and Innovation.” The event’s focus will be on the critical roles job creation and community development play in stimulating the economy, at the local and national level.
How Do We Stimulate Job Growth? Startups
By William Clifford, CEO, Spencer Trask & Co.
Where does the responsibility lie in finding, financing and growing startups? Historically, that role was the domain of Venture Capital firms scouring the countryside, analyzing business plans, and committing the seed-level investment capital needed to launch a new venture.
Intellectual Diversity in an Open World
Yesterday Spencer Trask’s CEO Bill Clifford participated in a panel discussion on “Intellectual Diversity in an Open World” at The Economist’s Ideas Economy: Human Potential in New York. This has not only been a subject of intense focus at Spencer Trask, but has come to heavily influence our business model as well. In a summary below, Bill provides an overview of his conference comments and the future of Spencer Trask.
Harnessing the 'Cognitive Surplus' to Drive Value Creation
1 TRILLION hours each year. That’s the amount of free brain time Clay Shirky, author of ‘Cognitive Surplus’, says is available annually within the world’s educated population. Our challenge lies in understanding how to leverage the connected world and draw upon our natural human instincts to create and share – to do something vs. doing nothing.
The Other Side of the Cloud
The Rise in Cloud-Computing and its Environmental and Economic Impact
Named by Gartner as the “Top Tech Trend for 2010,” cloud-computing has become an industry juggernaut. Already a $16.48 billion market, money is projected to continue pouring in at an annual rate of 27% over the next four years. And as theWall Street Journal reported earlier this week, the number of servers deployed in cloud applications is expected to triple to 1.35 million within the same time period.
