I always asked myself what I would have done during the gold rush, now I know I would not have gone for it, ie out west looking for the pot of gold. The reason I'm saying this, the new gold rush is in India, was in California a few years back and I'm still here in Ottawa!!! ;-)
May 4, 2005
Boom times in Bangalore | Perspectives | CNET News.com
Boom times in Bangalore | Perspectives | CNET News.com: "Overall, it resembles what the Old West must have been like. One moment, you're walking past an open-air sewer and a pack of wild dogs in a dusty alley. Turn the corner, and the Yahoo logo blazes across a shiny office building that looks about 15 minutes old. The local newspapers are filled with career advice and stories about the rise of crime. The price of residential real estate has tripled in three years. Confidence runs high." The first sentence matches exactly my thoughts. North America, is to India/China, what Europe is to North America, old, slow, borring, but with lots of money. The new West is East. India and China in 25years from now will be ranked 3 and 1 respectively in the largest world economy. This means they will consume all sorts of things, and where people consumes Companies establishes themselves to focus their R&D on the need of the market. This is happening now, companies from GM to GE have offices overthere to capture the next wave. North America's role in Innovation is about to diminish, original products are about to come out of india and china, we will be at the receiving end, waiting for products to be localized and the like. Just like we are waiting for products from Sony now, but much bigger since those countries are huge.