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- THE FRIDAY LETTER -
(emailed weekly,
from Gilder Publishing,
for friends and subscribers)
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| http://www.gilder.com/ | Issue 342.0/May 23,
2008
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HEADLINES:
- The Week / Steve Forbes: We've Seen This Movie Before
- Friday Feature / EZchip Brings Video Processing to the Line Card
- Friday
Blogger Bonus / China Begins Telecom
Industry Overhaul
- Readings /
|
Telecosm 2008 Begins ON tuesday |
The Week / We've Seen This Movie Before
Steve Forbes, Forbes.com (5/23/08): Inflation is a destructive distorter. It
fuels speculation and hoarding, as well as misdirects investment into normally
uneconomic activities or stops the flow of productive investment altogether as people and
businesses clutch their cash. The political mood sours as prices go up and
particular industries are harshly hit.
We
now see all of this unfolding. The dollar debasement that the U.S. Federal
Reserve began in 2004 and exacerbated in the aftermath of last summer's credit
crisis is wreaking the havoc history told us it would. The world, as the media
constantly report, is experiencing a shortage of food, and even when food is
available, the rising prices are rendering it unaffordable to the poor.
President Bush has announced an emergency food-aid package for hard-hit parts
of the world.
Rants
against speculators are growing louder and shriller. Oil's current crazy prices
are not because of supply and demand; with the slowdown in global economic
growth, oil inventories are doing quite nicely. So suspicion of market
manipulation grows.
The
airline industry, despite usually loaded planes, is drowning in red ink because
of rising fuel costs. To break even, major carriers will have to cut their
capacity by 20%. The auto industry is reeling. Buyers are suffering from
gas-price sticker shock and are sitting on liquid assets until they get a
better fix on where the economy is actually going.
The
U.S. Congress is full of proposals to tax windfall profits. On Apr. 30 the Wall
Street Journal ran a front-page headline about how "big
agriculture" is making money hand over fist while the specter of hunger
and malnutrition stalks the globe. Food shortages are being blamed on our
binging on corn-based ethanol. But almost every other food commodity price is
far, far above what it was last summer. The political mood will get uglier when
higher energy costs are passed on to U.S. consumers in higher electricity bills
this summer.
Amazingly
the roles of the Fed and other global central banks in all this are almost
entirely ignored….
Read on:
http://www.forbes.com/business/global/2008/0602/009.html
HEAR
STEVE FORBES SPEAK AT TELECOSM 2008. REGISTER
ONLINE TODAY: www.TelecosmConference.com
|
FRIDAY LETTER BOOK OF THE MONTH Covering the range of global warming
claims, from the famed "hockey stick graph" to a predicted rise of
mosquito borne diseases, the book is fascinating and even profound on the
flaws of computer modeling, the irrelevance of consensus to science, the
crippling effects of excessive specialization, and the mounting evidence of a
coming cooling trend. It ends with a cogent explanation of how carbon taxes
and offsets devastate the environment. --
George
Gilder |
Friday Feature / EZchip Brings Video
Processing to the Line Card
EZchip Technologies Ltd. (a LanOptics Ltd. company), a fabless
semiconductor company providing Ethernet network processors, today disclosed
that its NP-4 network processor, now in design, features support for the
enhanced transport of video applications. Integration of video support into the
network processor facilitates moving the video processing functionality in
switches and routers from a centralized services card onto each of their line
cards. The net result is a significant boost in the switch/router’s performance
and its support for video applications, while freeing the services card
processor for other tasks. EZchip will discuss the NP-4 applications support
and its focus on video processing at the Gilder/Forbes Telecosm 2008
Conference, May 27-29 in Lake George, NY.
“The NP-4 marks a paradigm shift in the role network processors will play in networking systems in the years to come,” said Eli Fruchter, President and CEO of EZchip Technologies. “In addition to providing flexible layer-2 switching and layer-3 routing functions, it will offer applications aware processing. EZchip's NP-4 will offload critical tasks, in particular those related to video transport, from the system’s services-card processor, typically a multi-core general-purpose processor, to the line-card processor, typically an optimized network processor. Because there can be as many as 64 network processors in a switch/router chassis versus only one or two multi-core services processors, the offload of video transport can be very significant and greatly enhance the switch/router's performance.”
“We
are seeing an excellent market response to these video transport features and
the NP-4 in general, which is already generating notable design wins,” added
Mr. Fruchter.
Read the Complete Announcement:
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20080514005738&newsLang=en
|
The Gilder Telecosm Forum To
learn how to join this powerful network of talented, tech-savvy investors and
thinkers online daily to debate, discuss, and decode new and emerging
technologies and share valuable and actionable investment advice, visit www.Gildertech.com today. |
Friday Blogger Bonus / China Begins Telecom
Industry Overhaul
Lorraine Luk, WSJ.com (5/23/08): China Telecom Corp. plans to
buy the code division multiple access mobile network of China United
Telecommunications Corp., a person familiar with the situation said Friday,
amid reports China soon would unveil a telecommunications industry shakeup.
China's
state-run Xinhua News Agency reported Friday the parent of Hong Kong-listed
China Mobile Ltd. would merge with fixed-line carrier China Tietong
Telecommunications Corp.
Shares
of China's major telecom operators were suspended from trading in Hong Kong,
Shanghai and New York…
Read
on:
http://online.wsj.com/public/article/SB121155045956017403.html?mod=2_1571_leftbox
__________________________________________
Readings /
Yahoo,
Microsoft and the Ties That Bind
http://online.wsj.com/public/article/SB121150760422916345.html?mod=2_1571_topbox
Buy Big Blue
http://www.forbes.com/home/2008/05/22/ibm-software-international-pf-ii-in_jd_0521gurusow_inl.html
A Tiny Terahertz Laser
http://www.technologyreview.com/Infotech/20817/
Access to next-gen Internet may be uneven
http://news.wired.com/dynamic/stories/N/NEXT_GENERATION_INTERNET?SITE=WIRE&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2008-05-22-15-14-06
__________________________________________
Friday Letter Editor: Mary Collins George / mcollins@gilder.com
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