Sunday, September 28, 2008

A book sounds an alarm: the US lacks technical innovation to sustain economic growth

Anyone following the stock markets lately will easily agree with the need for new business models in the markets, given the financial incompetence and corruption that is currently destroying everything in its path. We need new business models, and now. Just as importantly, such new business models should have the profits of such innovation go to only one group of people - the innovators, and not the parasites and dinosaurs who can buy off Congress, the PTO and the courts to try and prevent business method patents. I hope the CAFC realizes the importance of new business models to help restore the U.S. economy, and that the CAFC realizes the need to fully protect such innovative models with patents, so that the innovators benefit from what the dinosaurs can't do. It is an opportunity for the CAFC to show some financial leadership in a town lacking the such in massive quantities. In parallel, former Cisco CTO Judy Estrin has published a new book titled "Closing the Innovation Gap", reviewed in the New York Times, 9/1/8, page C4. "We have a national innovation deficit." The article summarizes: "Yet she is deeply worried that Silicon Valley - and the United States as a whole - no longer foster the kind of innovation necessary to develop groundbreaking technologies and sustain economic growth." All the more reason we need to eradicate the corruption and incompetence in the PTO, so that the investing marketplace can use higher quality issuing patents as signals as to where the real innovation is. Right now, the PTO is betraying the markets, which sadly seems to be the rule of the day in Washington.