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View Diary: No country for Zuckerbergs (193 comments)

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  •  Join me in Silicon Valley... (4+ / 0-)

    I attend 6-10 events each month where entrepreneurs, inventors et al seek to get together with angel investors, venture capitalists, private equity investors and the just plain curious.

    I sat at a Stanford GSB event last week with about 500 medical device, biotech and pharma entrepreneurs, senior management, inventors, grad students AND investors listening to a nice guy from the FDA talk about regulatory changes.  

    These 500 people are either really stupid to want to make a company in the US, or the tax issue is of de minimus concern to them.  Most of the people in that room are known to be wicked smart, the rest have yet to make their mark but have MD, PhD, MBA behind their names. There's not one Joe the Plumber in the lot distracted by tax issues.

    In the several decades I've been in Silicon Valley, the only guy I know who was obsessed with taxes is now broke after having tried to scam the IRS with a bunch of fake write-offs. Not only did he lose the small fortune he'd manage to build, he lost even more money trying to stay out of prison.

    Everyone else is obsessed with how to make a pile of money doing something great. It doesn't matter what the tax rate is, we're like squirrels on a wheel, we'll keep competing.  

    •  Fantastic post... (1+ / 0-)
      Recommended by:
      talismanlangley

      I often pray that I'll get the chance to pay $1million in taxes. I'm really sincere here.  Dear Lord, please! Because this means I'm making a sh*t ton of money.

      "Those who can make you believe absurdities, can make you commit atrocities" Voltaire.

      by JWK on Sun Oct 03, 2010 at 01:49:20 PM PDT

      [ Parent ]

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