3 ms·
I wouldn't want Robert Rubin to be the CIO of my startup either, even though I know he's as smart and dedicated as anyone. While I have to agree that it would
by vlad 18y ago
I wouldn't want Robert Rubin to be the CIO of my startup either, even though I know he's as smart and dedicated as anyone.
While I have to agree that it would be hard to find such versatile people, the argument is not logical. If a implies b, it doesn't mean that b implies a. If it did work that way, then it would mean any CIO could never make a great expert on finance and economy, and vice versa, and that's not qualifiable (or realistic.)
I just think that you should get the best man for the job.
It is not qualifiable that Obama has found the best man (or woman) for the job. Therefore, it is not qualifiable that entrepreneurs should not feel they should be represented by some economist or expert in finance who has entrepreneurial experience.
Somebody who has their money tied to their business, as Cuban said, and depends on their business for all of their income, is the kind of entrepreneur who should be represented. I believe Mark's point is that the economists advising Obama make money as government employees, company executives, book publishers, researches, faculty, or similar--I made this up, but if they're not entrepreneurs, they must be getting paid some other way.
(In fact, to add my own thoughts, many high-ranking economists and high-ranking finance experts could have been a part of the problem in the first place, while at the same time, entrepreneurs spent the same years trying to create value for their customers. They: create value in order to make money, actually have contact with real, "regular" people, try to solve people's existing and future problems after listening to these "regular" people, and do so because they've chosen to bet almost all of their income and quality of life on solving problems. This is completely different from being a professor or book author, tv personality, and, in some way, having a hand in creating the problem in the first place.)
My point is that making economic policy, especially in the current environment, is a difficult and specialised task. The people that have the best shot at getting it right are the ones that have the experience, connections and know-how of how to do it. And entrepreneurs don't - they are in a completely different business.
I think my points about how an entrepreneurial perspective could be beneficial as well as that entrepreneurs could definitely be experts on the economy argue your point, but I also want to note that Cuban mentions having one experienced entrepreneur representing one person on the committee, not necessarily a committee full of entrepreneurs (never mind all without experience in finance, and all relatively young, and all from Silicon Valley, to boot.) So, of course you need many experts as well as those with political connections on the committee. But at least one expert should have entrepreneurial experience. He even goes out of his way to point out several times that Buffett isn't an entrepreneur in the same sense that most entrepreneurs are small mom-and-pop shops and independent contractors.
Of course, I could be mistaken--maybe Mark Cuban did imply that he wants a great entrepreneur advising on the economy, whether or not they have economic experience--but I just did not read it that way, and it would be hard to argue that a sane person would want any random entrepreneur. I've heard Cuban has an ego, but I don't think it's that big. :)
(And again, such people exist, like the economic advisor to Ron Paul, as well as likely hundreds of other great choices. I think that Obama and the existing committee would not mind having an entrepreneur on board, and Cuban's post is a great way to point out this missing piece.)
I think we (the News.YC users) saw items in the blog post that made us want to discuss it, but of course, we saw different things. In my view, I didn't see anything wrong in his post, therefore causing me to think that it's a good idea for him to try to get a search for an entrepreneur started, and I wanted to provide what I thought. Thanks!
- mixmax 18y agoI see your points, and what your goals are with this, but I think that you and Cuban are getting in on the wrong level. He wants to make sure that tech entrepreneurs are heard in the new government - which I certainly agree is a good idea. Both for the entrepreneurs and the economy. My grudge with the post is that he finds it perfectly reasonable that tech entrepreneurs should be represented at the very top level of the economic advisers to the president. My argument is that the tech entrepreneur expertise should be represented one level further down. Both because, as I've argued before, that the expertise that's needed is very different from doing startups, but also because tech startups don't account for that large a portion of the overall economy. Cuban's arguments could just as well be applied to mom and pop stores, which are probably more underpinning of the economy than startups, the biotech sector, the defense industry, the automobile industry, agriculture, advertising, aerospace, big oil, clean energy, food products etc. etc. These are all important, but none of them, including startups, are big enough in an economical sense that they should be represented at the top level. Yes, an argument could be made that startups are the future of America. But the same argument could be made of mom and pop stores, clean energy and many others.
- yters 18y agoWhat drives America's economy? Investment or innovation? Where has the most influential innovation come from? Macroeconomics is a step removed from the people who really make it work. So, to get the best macroeconomics we need to make sure we get things right at the micro level. I don't see this happening with people who've spent their lives at the macro level. EDIT After reading the article, I also see you've set up a strawman. Cuban is not arguing you stick a lone group of tech entrepreneurs in Obama's advisory board. He says Obama needs to directly talk with them to see what they need, explicitly including non tech people in this by his mention of Joe the Plumber. Instead, Obama has insulated himself from these people with his advisory board. I agree with Cuban that this is a bad sign.
- mixmax 18y agoI just reread the article, and you're right about the strawman. Got a bit carried away in the discussion apparently :-)