Technology Key to Ending Recession, Says Bill Gates

by Terrence O'Brien on May 23, 2009 at 08:07 AM

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

MelMay 23rd 2009 9:37AM

Neutral

Fortunately, Bill Gates knows nothing about failing companies, failing governments, failing banks, and failing politics. Yesterday, a kid came around to my house to propose something about solar power. Nice kid. Didn't know dick.
AIG insuring 53 trillion dollars of credit default swaps will bring down the house and our government and there is nothing anybody can do about it. There wasn't one penny put up to insure the latest and greatest tool for hedge funds to suck up mortgage backed securities that were sliced and diced and repackaged into explosive and toxic packages. Great Britian is now in a negative worth position with debt greater than GDP. The USA is only 18% away from achieving the same distinction and our debt is climbing fast. Why did Edward Liddy resign his $1 a year post to help America deal with the AIG mess? IMO, he found out that AIG won't be able to repay the 180 billion TARP money and will probably go back to the government for billions, if not trillions, more. He didn't want to be the guy who said, "AIG cannot repay the governement loan." As Americans have a short memory span and he was only at AIG since September 2008, he did want that noose around his neck. We are done! Toast! Every man and woman for himself.

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lr7760May 23rd 2009 1:38PM

Neutral

i would tend to put more stock in Bill Gates opinions rather than "Mel's"

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MyKisaMay 24th 2009 7:04AM

Neutral

...until some one supports the people having control over their own money, nothing good will ever come our way

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Kim HannaMay 24th 2009 7:07AM

Neutral

Mel's made good points.
Gate's software & technology eliminated millions of jobs in every facet
of our lives.
We are more efficient at producing everything. GM went from 300,000 jobs
to 30,000 jobs through technology & automation.

We have too many people & not enough jobs. It's a simple equation.
We'll have to "make jobs" for people or they'll wander the streets & sleep in their shoes and all our lives will be diminished.

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lighthouse1777May 24th 2009 8:27AM

Neutral

Anybody that tries to tell you that the economy is recovering needs to be slapped up side the head. Yea, sometimes things might look pretty on the surface, but look deep down inside and you will see two broken nations that once were the kings of the world. For the U. S. and Britain, things will never, ever be the same again. Israel is also right behind us. The U.S. invested it's borrowed money in the wrong place, it should have invested it in the people and not failed businesses.

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felixjimmylexjamMay 24th 2009 8:49AM

Neutral

"We need to evaluate the circumstances and prioritize the enovation of technology where to apply for if their's no gauges and not encompass to
daily human needs and life standards, most mankind nor humanity capabilities and ability will be left behind. Economies knows the yearly whole world budget that circulate and navigate currency worldwide, including human numbers to sustain and if we neglected arithmatically the combination of this, then we are always in chaos whatever innovation nor technology we discover..."
" Richness atfront just for statue won't contribute to humanity if you just kept it aside for it cause sufferings to most or all'th itself..." Keep the money moving forward honestly for the benefit of everybody and you will see the difference and solutions of this mess.God Bless

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