Hot on HuffPost Tech:

See More Stories
AOL Tech

Technology Key to Ending Recession, Says Bill Gates

Technology Key to Ending Recession, Says Bill Gates
According to Bill Gates, the key to digging the U.S. out of the recession is technology. Reuters reports that the former head of Microsoft told a group of high-level executives gathered at Microsoft's annual CEO summit, "the opportunities for innovation are stronger today than ever."

Gates believes that the software and IT revolution are still in their formative stages -- and that it's up to IT companies to join with the big drug companies to rebuild the markets and lend a hand to struggling education and communication systems.


Current Microsoft head Steve Ballmer argued that the Internet Revolution was only coming to half-time now. Ballmer also noted his belief that the current economic recession would not dry up the well of venture capital that the IT industry has relied on for years to finance its brightest innovations.

Ballmer noted that, even though many tech companies are making cuts and trimming costs, research and development budgets were being spared.

While we hope that Ballmer's right about the venture money not drying up, we do find it a little hard to believe that we're going to simply 'research' our way out of the recession. [From: Reuters]

Tags: bill gates, BillGates, business, economy, recession, steve ballmer, SteveBallmer, technology, top

Comments

6

Add your comments

Please keep your comments relevant to this blog entry. Email addresses are never displayed, but they are required to confirm your comments.

When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.

To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.