This is a refreshing announcement. A new Venture Capital firm is starting and they will only invest in Silicon valley based companies (U.S. would be better folks!)
But what is interesting is they are also doing angel investing or the first $50k to get started, which has died down in recent years.
Now a lot of absurdity did happen in the dot con bubble, at the same time to truly obtain innovation, one has to fund a lot of fizzle to obtain that one true spark.
It's also great that this $300M fund will be investing in U.S. companies. About time we stopped hearing the offshore outsourcing mantra and had funds being directed exclusively to U.S. technical innovation.
Just what women techies need to hear when massive layoffs are headed to Silicon valley. Oh yeah, get this, the layoffs aren't really layoffs but more of an excuse to offshore outsource even more jobs, age discriminate and our usual high tech blame game, insulting people working their ass off as dead wood to justify their staff thrashing....(TechCrunch loves to blame the victim and promote global labor arbitrage).
Back to women techies....they are not having families, working their ass off, much more than their male counterparts and yet...all of that effort just isn't paying off:
Rumors abound that AT&T (T), Yahoo (YHOO), and eBay (EBAY) will together release thousands of workers into the unemployment pool. Those will add to the mounting figures: Earlier this year, Sun Microsystems (SUNW)let up to 2,500 employees go; Nortel (NT) is cutting 2,100 jobs; Hewlett-Packard (HPQ) will reduce staff by nearly 25,000 following its acquisition of Electronic Data Systems; and even Google (GOOG) got into the game with the shedding of 300 jobs at DoubleClick.
According to the San Jose Mercury News, there are around 1,417,000 people out of work in California alone. That's up 413,000 from this time last year.
Thursday, Alley Insider posted an anonymous tip that Yahoo! will soon be axing 3,500 jobs.
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