Chriss W. Street

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Despite Silicon Valley, Most Interns Who Earn, Earn Little

There will always be a few high-tech interns making rock star wages over the summer, but they will be an infinitesimal minority. About half of college interns this summer will be working in the private sector for minimum wage or volunteering with charities. Jul 11, 2014 5:32 AM PT

WSJ is Too Old to Appreciate Venture Capital

With the Wall Street Journal turning 125 years old this week, it is humorous that its tech writer, Christopher Mims, chose to dismiss the lack of “net social benefits” by venture capital (VC) in an article titled “Is Silicon Valley Funding the Wrong Stuff?” Jul 9, 2014 6:18 AM PT

Silicon Valley Still King of Venture Capital

For VC entrepreneurship, there is Silicon Valley and then there is everybody else. The entire continent of Europe came in second place by completing $2.6 billion in VC deals, followed by New York City with $1.4 billion and the Northwest with just $800 million. Jul 6, 2014 5:22 AM PT

Obama's 'Mission Creep' in Iraq Becoming 'Mission Run'

Three weeks ago, President Obama promised that the United States “will not be sending U.S. troops back into combat” in Iraq. But Foreign Policy magazine (FP) just reported that Chairman of the Joint Chiefs of Staff General Martin Dempsey acknowledged that the United States is not only considering airstrikes in Iraq against the Islamic State of Iraq and al-Sham (ISIS), but for the first time is talking about taking “direct action.” This is Pentagon “speak” for sending in American Special Forces or Special Operations units for combat missions. President Obama’s “mission creep” in Iraq appears to be quickly morphing into a “mission run.” Jul 5, 2014 11:30 AM PT

U.S. Jobs Leap but Inflation Is Rising Fast

The U.S. economy created 288,000 jobs in June, and unemployment fell from 6.3% to 6.1% according to the Labor Department. Job creation for the months of April and May were also revised up by another 29,000 jobs. June marked the first time since the 1990s dot-com boom that employment has grown by over 200,000 jobs for five straight months. The extraordinary job growth will cause inflation expectations to jump and put pressure on the Federal Reserve to allow rates interest rates to rise this year. Jul 5, 2014 11:16 AM PT

Potential Presidential Candidate Elizabeth Warren at Center of CFPB Scandal

Possible presidential candidate Sen. Elizabeth Warren (D-MA), who came up with the idea and led the start-up of the “Consumer Financial Protection Bureau” as a federal watchdog to prevent financial institutions from abusing U.S. consumers, is now at the center of the a scandal regarding the vanished authorization to spend $215.8 million on a luxurious remodel that included a new penthouse floor and indoor waterfall for the bureau’s rented Washington, D.C. office space. Jul 5, 2014 10:39 AM PT

IEA Says Digital Devices Wasting Billions in Standby Mode

The International Energy Administration (IEA) reported in “More Data, Less Energy: Making Network Standby More Efficient in Billions of Connected Devices” that the world’s 14 billion online electronic devices – such as set-top boxes, modems, printers, and game consoles – currently waste about $80 billion per year due to inefficient networks. The administration projects that a rapidly digitizing world that is projected to be wasting $120 billion a year by 2020 could “massively save energy and money” with a “few simple measures.” Jul 5, 2014 6:54 AM PT

UK Systematically Denies Surgery to Seniors

Royal College of Surgeons issued a report that the British National Health Services (NHS) is denying life-saving operations because of age discrimination in defiance of the law. New data documents for the first time that across large areas of the United Kingdom no patients above the age of 75 are “receiving surgery for breast cancer or routine operations such as gall bladder removal and knee replacements.” Jul 5, 2014 6:27 AM PT

Germany Coerced into Adopting Its First Minimum Wage

German lawmakers on July 3rd approved the introduction of the country's first national minimum wage of $11.75 per hour. For the last decade, Germany’s greater “labor flexibility” allowed its economy to flourish, while most of the other European Union members’ economies stagnated. Rather than embracing the policies that helped Germany succeed, other EU members have forced Germany to conform to the failed labor policies of many of its EU neighbors. Jul 4, 2014 4:12 PM PT

New Assembly Speaker Flunks Water Bond Test

California Assembly Speaker Toni Atkins (D-San Diego) seems to have flunked her first major leadership test by failing to get Governor Brown’s water bond passed during one of California’s worst droughts. Jul 3, 2014 6:11 AM PT

Detroit Won't Surrender to Google in Self-Driving Cars

As Silicon Valley expands from the Internet of people to the Internet of Things, the failure of Detroit and Google to form a partnership to build self-driving cars is an instructive tale regarding the challenges Silicon Valley and industrial America will continue to face as they are forced to work together in the future. Like any massive disruptive technological change, a world where the machines have control over machines is easier to people to design, than for people to safely and profitably deploy. Jul 1, 2014 9:12 PM PT

California Unions Scramble as Local Voters Poised to Eliminate Public Pensions

After the Ventura County Board of Supervisors on June 10 voted 4 to 1 to put a popular initiative to eliminate public employee defined-benefit pensions on the ballot, a coalition of public employee unions filed suit to prevent the initiative from going to a vote of the people in November. If the courts rule in favor of the 40,500 petition signers, Ventura County could save $460 million and spark a statewide taxpayer assault against California’s $450 billion in unfunded public employee defined benefit pension obligations. Jul 1, 2014 1:30 PM PT

CA Supreme Court to Decide If Politicians' Private Emails Are Public Records

Some public employees and elected officials might have been busy destroying their personal cell phones, tablets and computers this weekend after the California Supreme Court agreed to review if communications on privately owned electronic devices regarding a public matter are public records and must be open for public inspection. Jun 30, 2014 5:37 AM PT

MannKind Inhalable Insulin Receives Limited FDA Approval

Although MannKind Corporation (MNKD) finally won its decade-long fight for FDA approval to sell its Afrezza insulin therapy system in the U.S, most investors are disappointed that the powered drug inhaler must carry a warning label that it is not a substitute for injectable insulin and that it is not recommended for individuals with asthma or a serious lung disease. Jun 28, 2014 6:35 PM PT

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