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Essay / Research Paper Abstract
A 7 page paper discussing the bursting of the technology bubble in 2000, offshoring of technical positions to India and the resulting effect on the national economy. These events did not only affect the federal government’s tax revenues, but also the strength of the dollar in international markets and the nation’s balance of payments. Silicon Valley’s economy is improving slowly, but it is not expected to fully recover before 2010. If all other conditions remain as they are now and Silicon Valley’s economy does regain the same level it enjoyed prior to December 2000, the larger effect on the national economy will remain. Bibliography lists 6 sources.
Page Count:
7 pages (~225 words per page)
File: CC6_KSeconSilicVal.rtf
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Unformatted sample text from the term paper:
Literally hundreds of engineers attended a November 2003 job fair in Santa Clara, California. Many had been mostly unemployed since the burst of the technology bubble during the
summer of 2000; others were victims of the "trickle down" effect that the bubble burst carried with it. The most notable characteristic of the job fair was not that
it featured the kinds of jobs in which engineers would have interest, even though that has been a rarity in Silicon Valley for the past several years. Rather, the
most notable feature of the job fair was that it was exclusively for openings for engineers with companies such as Microsoft and Juniper Networks - in India (Hof and Kripalani,
2003). Across the Water One of the engineers in attendance at the job fair was 24-year-old, Indian-born Jay Venkat. A graduate of
the University of Alabamas electrical engineering program, Venkat said, "The real development and design jobs are in India" (Hof and Kripalani, 2003; p. 74). The outsourcing and "offshoring" of
technical positions over the past several years has been an outgrowth of the increasing competition in business, even though it currently operates at hypercompetitive levels. As CEOs are ever-pressured
to meet analysts estimates for quarterly profits - with no "wiggle room" for deferring profits while building for the future - businesses are obliged to cut costs where ever possible.
If they do not, then they risk losing millions in market capitalization, typically the cheapest source of capital available to them. Not
all of Silicon Valleys tech companies were or are publicly traded, but a high percentage of them are. Once the destination of the greatest portion of venture capital flowing
...