SHARING AMERICA'S TECH NEWS FROM THE VALLEY TO THE ALLEY
by Maria Bartiromo via Linkedin
That is my headline from the Aspen Ideas Festival, where I was able to talk to titans from business, the arts and politics.
This annual gathering is a great opportunity to hear from so many leaders from different fields. They come together to talk about the issues of the day in a relaxed and absolutely stunning atmosphere, hosted by the Aspen Institute and the Atlantic. I will get back to software in a moment.
But let me say the sessions were outstanding, focusing on everything from small business to space and the changing dynamics of the media Industry. I caught up with Hank Paulson, former treasury secretary who said on my show in response to my questioning the accuracy of China’s economic data “the numbers are a problem.”
Paulson said over the short term, it’s tough to be bullish on China because it is still in a transition phase and yes the economy there has slowed. But longer term, he remains bullish and says China’s growth and its 1.3 billion people are critical to the U.S.’s growth.
He also said the energy story in the U.S. will be a major growth opportunity. As an environmentalist, he believes it is possible to tap into Americas rich gas assets safely.
Goldman Sachs CEO Lloyd Blankfein told me he is optimistic on the U.S economy as well but it will most likely stagnate over the short term. He said the markets overreacted to the Feds commentary and there are very few alternatives to owning stocks if you are looking for any kind of yield.
Now about that software. The last time I wrote here, I discussed the vibrancy and potential if the marriage of technology and healthcare. And as I further explore, it seems software is ripping through business, killing some Industries and changing others.
That includes energy, where technology is enabling new ways to get to the shale gas this country is rich in, to electricity where cars are driving themselves and doing away with engines. I drove the Tesla and was super impressed. I would not have expected it. But it is a winner.
Technology has shown us that if there is an easier way to do something, one that is more transparent and cheaper, then the disruptor, whatever that may be — will win market share.
We are seeing that in manufacturing, in financial services, in energy and of course healthcare. This will create investment opportunities, new startups and it will also change traditional business. What will financial services look like, for example in ten years with companies like square enabling electronic payments and ETF’s attracting so much new money?
The Aspen Ideas Festival brought new ideas and big ideas to the stage. And it’s one more reason you have to be bullish on America, where innovation still rules the day. Oh and one more thing— here is the great Yo Yo Ma teaching me the cello. [View video.]Photo: Rodney Ungwiluk, Jr. Photography/Flickr via Getty Images