― THE FRIDAY LETTER ―
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| http://www.gilder.com/ | Issue 208.0/July 8, 2005
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▪ The Week / Steve Forbes: Asinine Way to Treat Ultimate Asset
Friday Feature / Steve Jobs: You've Got to Find
What You Love
▪ Friday Bonus / Larry Kudlow: Schumer’s Position Is Smoot
The Week / Asinine Way to Treat Ultimate Asset: People
Steve Forbes (7/4/05): The Bush administration is doing the economy long-term harm by not reforming our post-9/11 immigration and visa policies. No one is arguing about the mortal necessity of tightening our screening procedures. But it defies belief that this, the most technologically advanced of nations, can't come up with software and hardware to expeditiously assist in determining who should and should not gain entrée.
Alarmingly, foreign students are increasingly turning to non-U.S. universities. Australia, Canada and other nations have been effectively luring these students by assuring them that if they qualify, they won't have to undergo repeated, humiliating hassles at their borders. By contrast, foreign students now in the U.S. know that when they go home for summer vacation or holidays, their probability of returning to school is no sure thing.
Our high-tech companies are vitally dependent on immigrant brainpower. Our schools are not turning out the numbers of American scientists and technologists that we so badly need. In years past most foreign-born graduate students remained in the U.S. after completing their studies. Now they are in a minority--a declining one at that.
Technology guru George Gilder has not-so-facetiously suggested that when overseas graduate students complete their studies here, green cards should be embossed on their diplomas.
We are gratuitously hurting ourselves--competitively and diplomatically--at a time when South Korea, India, China and others are rapidly ramping up their high-tech efforts to surpass the U.S.
Read the Complete Article by Steve Forbes:
Hear more from Steve Forbes and George Gilder when they co-host the 9th Annual Gilder/Forbes Telecosm Conference: TELECOSM 2005, Sept. 26 – Sept. 28, in Lake Tahoe.
Register Today: http://www.telecosmconference.com/
September 26 – 28, 2005 | The Resort at Squaw Creek, Lake Tahoe
JUST ADDED …
Gilder on the Teleputer
Revolution & the Future of Wireless
View the Complete Agenda:
Friday Feature / You've Got to Find What You Love
Excerpted from the Stanford University commencement address by Steve Jobs: I was lucky – I found what I loved to do early in life. Woz and I started Apple in my parents garage when I was 20. We worked hard, and in 10 years Apple had grown from just the two of us in a garage into a $2 billion company with over 4000 employees. We had just released our finest creation - the Macintosh - a year earlier, and I had just turned 30. And then I got fired. How can you get fired from a company you started? Well, as Apple grew we hired someone who I thought was very talented to run the company with me, and for the first year or so things went well. But then our visions of the future began to diverge and eventually we had a falling out. When we did, our Board of Directors sided with him. So at 30 I was out. And very publicly out. What had been the focus of my entire adult life was gone, and it was devastating.
really didn't know what to do for a few months. I felt that I had let the
previous generation of entrepreneurs down - that I had dropped the baton as it
was being passed to me. I met with David Packard and Bob Noyce and tried to
apologize for screwing up so badly. I was a very public failure, and I even
thought about running away from the valley. But something slowly began to dawn
on me – I still loved what I did. The turn of events at Apple had not changed
that one bit. I had been rejected, but I was still in love. And so I decided to
didn't see it then, but it turned out that getting fired from Apple was the
best thing that could have ever happened to me. The heaviness of being
successful was replaced by the lightness of being a beginner again, less sure
about everything. It freed me to enter one of the most creative periods of my
the next five years, I started a company named NeXT, another company named
Pixar, and fell in love with an amazing woman who would become my wife. Pixar
went on to create the worlds first computer animated feature film, Toy Story,
and is now the most successful animation studio in the world. In a remarkable
turn of events, Apple bought NeXT, I retuned to Apple, and the technology we
developed at NeXT is at the heart of Apple's current renaissance. And Laurene
and I have a wonderful family together.
pretty sure none of this would have happened if I hadn't been fired from Apple.
It was awful tasting medicine, but I guess the patient needed it. Sometimes
life hits you in the head with a brick. Don't lose faith. I'm convinced that
the only thing that kept me going was that I loved what I did. You've got to
find what you love. And that is as true for your work as it is for your lovers.
Your work is going to fill a large part of your life, and the only way to be
truly satisfied is to do what you believe is great work. And the only way to do
great work is to love what you do. If you haven't found it yet, keep looking.
Don't settle. As with all matters of the heart, you'll know when you find it.
And, like any great relationship, it just gets better and better as the years
roll on. So keep looking until you find it. Don't settle.
Read Steve Jobs’ Complete Address:
Technology Report is about technology, not the short-term
gyrations of the stock market. In the long-run technology and
entrepreneurship are the only sources of economic growth.
Friday Bonus / Kudlow: Schumer’s Position Is Smoot
Larry Kudlow: It’s no secret that I’ve been hounding senators Chuck Schumer and Lindsey Graham over their China-bashing trade legislation. How could a supply-sider do otherwise? This protectionist duo should be compared to the late congressmen Smoot and Hawley, as their bill echoes the catastrophic tariff legislation that set off the stock market crash and Great Depression of decades ago.
Read Larry Kudlow’s Complete Article:
Some Link, Others Manipulate
Hiring Up, Unemployment Rate Drops
Forbes/Wolfe Nanotech Report
Start your subscription today and immediately download our latest report ‘5 Biggest Profit Takers of the Nanotech Revolution’ and get the 5 stocks that every nanotech investor should be buying right now. Click Here For More Info
Nanotubes Inspire New Technique For Healing Broken Bones
Rich Karlgaard’s list of favorites at
Google Invests in Fast Net Provider
Surviving The Digital TV
Qualcomm Says Broadcom Suit
Has No Merit
Nokia Upbeat On CDMA In China
WiMax: A Spec Divided
Near-Field Optics Could Store Up To 150 Gbytes
Theodore Olsen and Edith
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