Tech execs optimistic — longterm
October 21, 2008 by Valerie HelmbreckPosted in: Budgets and spending, Communication, Green technology, IT employment, In this week's e-newsletter, Latest News & Views, Software
Those tech execs are a “glass mostly full” sort, according to a recently released survey.
Despite the global financial and economic crisis, and in the midst of uncertainty associated with a historic presidential election, the DLA Piper 2008 Technology Leaders Forecast Survey found industry leaders have a plenty of worries about the current situation, but are fundamentally upbeat about future opportunities.
DLA Piper is a global law firm that represents emerging growth and high technology companies.
Their survey, which measured the attitudes and perspectives of top execs in the technology industry, revealed that 75% of respondents have been adversely affected by the economic slowdown. Only 15% think the U.S. economy is likely to rebound in the first half of 2009 and more than half of respondents (55%) believe the IPO market will not begin to rebound until at least 2010.
It’s important to note here that responses to the survey were received between September 23 and October 6, as Congress debated the $700 billion bailout bill and during a tumultuous two weeks on Wall Street.
“Approximately 90% of respondents do not believe the IPO market will return until at least the end of 2009 which is not surprising given the extent of the current economic crisis and the shutdown in the IPO market that occurred following the Tech Bubble Burst in 2000,” said Peter Astiz, Global Co-Head of the DLA Piper Technology Sector Practice.
But that’s the downside. On a more positive note, two-thirds of technology executives surveyed believe the current crisis won’t be as severe as the Tech Bubble Burst of 2000.
The survey also found that:
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85% of respondents think we are in for another year or more of the current economic conditions, which translates into a majority belief that current problems aren’t a short-term phenomenon.
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Clean technology is one of the bright areas amid the financial crisis and economic turmoil, with tech leaders believing the sector will get a boost given the continuing economic and political pressure towards greater U.S. energy independence.
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With almost 90% of respondents saying the Chinese consumer market is an exploitable opportunity, technology industry executives still believe China represents a significant opportunity as both an end market and a supplier.
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Almost half of all respondents (48%) do not have an open source software policy, which experts warn could open them up to legal exposure.
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While there continues to be considerable discussion about innovation coming out of emerging markets, 55% of respondents think the US will still lead in producing the next generation of “leap-frog” technologies in the coming decade.
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Tags: DLA Piper, executives, survey, technology

March 23rd, 2010 at 1:45 pm
OK sorry if this is slightly off topic but I thought this was a good one:
The dream of the older generation was to pay off a mortgage. The dream of today’s young families is to get one.
If you think no one cares you’re alive, miss a couple of house payments.
My buyers went through debt consolidation. Now they have only one bill they won’t pay.
If you want to know exactly where the property line is, just watch the neighbor cut the grass.
This country is great. It’s the only place where you can borrow money for a down payment, get a 1st and 2nd mortgage and call yourself a homeowner.
The trouble with owning a home is that no matter where you sit, you’re looking at something you should be doing.
PLEASE POST MORE JOKES
Wecan all use a little laugh