UK Innovation
Here is another of Moe's photographs from 1860 San Ramon. I'm pretty sure he was using his Nikon F2, which was purchased by him in Tokyo after the Peace Corps. The Nikon lenses then as good or better than anything today, while the photographer's eye turns good to great.
In other riveting local news, Government to commit £150 million to a new venture capital "fund of funds" called the UK Innovation Investment Fund (a F2F pools money which commits to general partnerships who in turn invest in companies - in this case, high-tech start ups). Further confusing everybody, the Department for Business, Innovation and Skills, with the Department of Energy and Climate Change and the Department of Health, will invest the money alongside the private sector in order to stimulate growth. Government believes this could leverage enough private investment to build a fund of up to £1 billion over the next ten years. The UK Innovation Investment Fund forms part of the government’s strategy for Building Britain’s Future and dear reader, I think it doesn't have a prayer. Super Gee says “this fund will help build Britain’s future by investing in key sectors. It will provide crucial support for our most promising start-ups and existing small companies just when they need it most. Venture capital finance is the lifeblood of innovation and crucial to ensuring the commercialisation of the discoveries coming out of our research base. The fund will boost future UK competitiveness.”
As a tax payer I am not happy about Brown's strategy since I already own exposure to venture via several partnerships. Allocating aside, why on earth anybody in Government qualified to direct public dollars to private equity schemes beyond me AND £150 million, in any case, a piss in the bucket and better spent elsewhere. Like my kids school. If Gordon wants to stim-u-late our moribund entrepreneurial society, he should do so with tax breaks that benefit the unsung hero's of British capitalism - in short, those guys dumb enough to go out on a limb and try to create something from nothing. The UK capital gains tax is generally 18% but there has been grumbling about tossing it into income, which now stands at 42%. We should make the capital gains rate less. Or zero. Next: open the doors to young, industrious and educated people - bring 'em in and let them go to work (I recall my early work-visas - budda-bing - nightmare). The British enjoy an unusual, nasty combination of deep scepticism or mistrust of New combined with smoldering jealousy for those who succeed. Not good, but at least it ain't France or Germany, which are cemented in their bureaucratic ways. And Italy! pardieu - never.
As a tax payer I am not happy about Brown's strategy since I already own exposure to venture via several partnerships. Allocating aside, why on earth anybody in Government qualified to direct public dollars to private equity schemes beyond me AND £150 million, in any case, a piss in the bucket and better spent elsewhere. Like my kids school. If Gordon wants to stim-u-late our moribund entrepreneurial society, he should do so with tax breaks that benefit the unsung hero's of British capitalism - in short, those guys dumb enough to go out on a limb and try to create something from nothing. The UK capital gains tax is generally 18% but there has been grumbling about tossing it into income, which now stands at 42%. We should make the capital gains rate less. Or zero. Next: open the doors to young, industrious and educated people - bring 'em in and let them go to work (I recall my early work-visas - budda-bing - nightmare). The British enjoy an unusual, nasty combination of deep scepticism or mistrust of New combined with smoldering jealousy for those who succeed. Not good, but at least it ain't France or Germany, which are cemented in their bureaucratic ways. And Italy! pardieu - never.
