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Wednesday, 25 August 2010 09:51

Otellini forecasts US tech decline

Written by Fudzilla staff


The next big thing won’t be invented here
Intel CEO Paul Otellini delivered a rather depressive speech at the Technology Policy Institute Aspen Forum, warning of dark days for the US tech sector.

Otellini told the crowd, which featured several high ranking administration officials and lawmakers that the government had to change its policies in order to restart the tech sector. Otellini said that the US legal environment had become hostile to business and that an “erosion and shift of wealth” is coming along.

“The next big thing will not be invented here. Jobs will not be created here,” said Otellini.

Otellini also offered some harsh criticism of the legislators and policy makers, saying that their experiment in Keynesian economics had failed. He warned that US businesses were facing a bitter business climate and that wrong political decisions could force people to invest elsewhere.

More here.
Last modified on Wednesday, 25 August 2010 11:07

Fudzilla staff

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+13 #1 jimbo75 2010-08-25 10:22
Hilarious stuff from the biggest hypocrite in the industry.

intel's actions put thousands of US AMD staff out of jobs, and recently intel were known to be lobbying politicians to allow more relaxation on employing foreign workers.

intel is more at fault over the crashing US tech sector than anybody else.
 
 
+13 #2 MrScary 2010-08-25 10:44
"Jobs will not be created here,” said Otellini.

Well, so AMD investing on a Megafactory on Saratoga to build GlobalFoundries , New York, USA, isn´t going to create millions of jobs in the country,... aha, i see the point Otelllini, yeah, go cry elsewhere.
 
 
+12 #3 nele 2010-08-25 11:04
Quoting MrScary:
"Jobs will not be created here,” said Otellini.

Well, so AMD investing on a Megafactory on Saratoga to build GlobalFoundries , New York, USA, isn´t going to create millions of jobs in the country,... aha, i see the point Otelllini, yeah, go cry elsewhere.





The really ridiculous thing is that the plant is being funded by Abu Dhabi-based investors (ATIC & Mubadala)...

At the same time, US-owned Intel is investing in plants abroad, from Israel to Southeast Asia...
 
 
+3 #4 MrScary 2010-08-25 12:27
Quoting nele:
The really ridiculous thing is that the plant is being funded by Abu Dhabi-based investors (ATIC & Mubadala)...

At the same time, US-owned Intel is investing in plants abroad, from Israel to Southeast Asia...


Co-founded with AMD to be pricise, and spined off to show reports apart from the company activity every quarter.

No matter how much money you have from drilling oil, you will have no [censored]ing idea about manufacturing semiconductors, there is no magic wand for that.
 
 
+10 #5 Marburg_U 2010-08-25 12:33
Intel got not enougth money from the Israeli government. Maybe they want some more billions from the USA gov.
 
 
+2 #6 Reavenk 2010-08-25 14:01
This article sums up the main article a little too quickly. If you read the original, there's not a single thought that's not been said before by other economists, and a lot of it just makes sense.
 
 
+1 #7 nele 2010-08-25 18:00
Quoting Marburg_U:
Intel got not enougth money from the Israeli government. Maybe they want some more billions from the USA gov.



Well to be fair GloFo got 1 billion from New York state... Israel was offering Intel 'just' 400 mil ;-)
 
 
+2 #8 blandead 2010-08-26 00:51
maybe there's nothing exciting from Intel coming out, but I'm pretty hyped up for new AMD/ATI parts. Like everyone said GloFo is great too. How ridiculous can Intel get when as everyone stated they are outsourcing their fabs and screwed over AMD costing jobs.
 

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