Intel CEO Says High Tech Now In The Ditch..Waiting For The Blue Screen

Intel chief executive Paul Otellini offered a depressing set of observations about the economy and the Obama administration Monday evening, coupled with a dark commentary on the future of the technology industry if nothing changes.

 Otellini’s remarks during dinner at the Technology Policy Institute’s Aspen Forum here amounted to a warning to the administration officials and assorted Capitol Hill aides in the audience: Unless government policies are altered, he predicted, “the next big thing will not be invented here. Jobs will not be created here.”

 Intel CEO Paul Otellini, who warned this week that the U.S. faces a huge tech decline.

The U.S. legal environment has become so hostile to business, Otellini said, that there is likely to be “an inevitable erosion and shift of wealth, much like we’re seeing today in Europe–this is the bitter truth.”

 Not long ago, Otellini said, “our research centers were without peer. No country was more attractive for start-up capital… We seemed a generation ahead of the rest of the world in information technology. That simply is no longer the case.”

High tech now in the ditch…No recovery in sight…

 

 

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