Posted on 01/26/2004 10:16:36 AM PST by NormsRevenge
Edited on 04/13/2004 2:49:27 AM PDT by Jim Robinson. [history]
Venture capital investment is finally on the rise again, suggesting what Silicon Valley desperately wants to hear -- the tech economy may be coming back, and with it the jobs.
Venture capitalists invested $1.66 billion in Bay Area companies last quarter -- up a strong 22 percent from the $1.36 billion the quarter before, according to a survey by VentureOne and Ernst & Young to be released today. It's the first decisive upward swing in investments after a year of treading water, and is the most funding since mid-2002.
(Excerpt) Read more at mercurynews.com ...
Data shows that venture capitalists are moving on from trying to save their older, struggling companies and investing in the youngest start-ups -- the ones most likely to hire.
About 30 percent of the investments were into companies in their first round of funding. Many have been around for a year developing their product, but have so far skimped on hiring.
Kevin Fong, a venture capitalist with Menlo Park's Mayfield Fund, said, ``These are the kinds of jobs that won't be leaving the country.''
I'm wondering how many of the start ups are going to be competing with the established companies. If it's a high percentage, the hiring that takes place could simply end up as a job shifitng for the older companies to the new as the older companies are economically displaced. I guess what I am wondering is: Will they be competing for the current market or expanding and developing new ones?
I'm not familiar with the high tech industries involved here: Anyone know who gets the best use of the labor force? Which ones, the new or the old, would hire the most employees for the same amount of production?
One contract is part time and is paying about half of what I made last year. This contract could turn huge, meaning we might actually hire others here in California. The other contract is full time and is paying 95% of what I was paid last year. I'm taking both contracts.
and a 5 year chart can be found here .
As a contractor I've been doing great over the past 3 years, steadily increasing rates by focusing on building and demonstrating needed skills. I'm just completing my first vacation in many years and will get to test the strength of this market in the coming weeks.
Now if we can get GWB to end his unchecked growth of the federal government, we'll be in good shape.
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