Monday, September 29, 2008

Wild Ride

What an extraordinary few weeks we've been through economically. The economic system has started to unzip and then snap back several times: the scariest thing I saw was the more than doubling of the LIBOR rate over night. And the control of short sales is a step to nationalizing equity markets: incredible! And while, things continue to adjust and move forward, we are, for better or worse, living through an inflection point in economic history.

I was in Moscow, Russia a few weeks back when the Russian central bank had to intervene to support the ruble. At that point, cooler heads seemed to have been regaining center stage and the political climate between the US and Russia seemed to warming a bit since the Georgia conflict. Then, right before I left, a US vice president candidate speculated that we might have to go to war with Russia! A week later, the Russian markets closed for several days. I'll have a report on my Russia trip in a few days, but I'll preface it by saying it was fascinating.

I escaped the economic chatter last week by attending Oracle's Open World conference. This was by far the best Open World I have seen: customers were very enthusiastic and the show was extremely well coordinated. Getting back to core technology was a great break from some of the bleaker world news. I arrived home late Saturday and then was back on a plane this morning: only to learn that Wachovia had been dispatched!

Deika Morrison blog

I wanted to point readers to the new blog of a friend of mine, Deika Morrison. She has an extremely interesting background: she served as a Senator and Minister of State for Finance and Planning for the country of Jamaica, is a business expert, and is a careful thinker. She's also one of the nicest people I know.

I continue to believe that so-called emerging markets are the well spring of innovative ideas in economics and business. Brazil, Israel, Russia, China, Jamaica are all interesting places where necessity has proven to be the mother not just of invention but innovation: Deika's blog should help illustrate what I mean.

Thursday, September 04, 2008

SVOD: Tech Sector in Russia

This year's Silicon Valley Open Doors conference has been scheduled, the dates are November 20-21. This is the premiere opportunity to learn about the technology sector and venture capital opportunities in and around Russia and understand more about what is happening with Russian companies. Hope to see you there.