The more I hear of Elizabeth Warren’s plans, the more concerned I become about the future of our economy, both local and national. From what I hear her say about job creation, I assume that will come as the result of government programs. Unfortunately, the government does not have the capacity to determine, for instance, which future technology will lead to the largest job creation. The venture capitalists are the ones who have that capacity and have proved it over the years.
The latest edition of The Economist opines that Warren “needs to find more room for the innovative and dynamic private sector that has always been at the heart of American prosperity.” What has surprised me is the absence of knowledge that Warren has about the subject she addresses. She has created the image of herself as someone whose research is beyond reproach. Possibly, her sources are only from those who agree with her. She has criticized an industry that has revitalized other industries time and again. I hope she would acknowledge this.
The writer is a veteran of the venture capital and private equity industry.