Sunday, June 20, 2010

Russian President Headed to Visit Silicon Valley Seeking Secret Sauce

As part of his visit to the United States, Russian President Dmitry Medvedev will make a stop in the Silicon Valley this week, reports KCBS TV in San Francisco.

” We’re talking about a country that just a few years ago, the only media they had was socialist media, that was very guarded by the state” said President and CEO of the Silicon Valley Leadership Group Carl Guardino. “And now we have a president of Russia who is very interested in social media, which, by its very nature is very open and transparent.”

People come here looking for the secret sauce, but that’s a hard thing to do,” said Guardino. “But we always encourage foreign leaders to look to establish an innovation economy in your country. Learn from Silicon Valley but don’t think it can be emulated.”

During his visit, Medvedev is also slated to give a speech at Stanford University sometime Wednesday afternoon.

From Stanford, he will fly to Washington D.C. for a meeting with President Obama on Thursday. Then he’s off to Canada for the G8 and G20 meetings.

Dmitry here's the secret sauce that can launch all of Russia into super growth:
1. Total respect for property rights.
2. Very, very low taxes.
3. A stable currency where the central bank is not allowed to increase the supply of money.
4. Rule of law--that is limited to protecting property rights.
5. Freedom for individuals to do whatever they choose as individuals or as parts of groups, as long as they do not harm others or the property of others.

1 comment:

  1. When has a central bank provided stable currency? Anywhere at any time?

    A central bank is created to inflate the currency. There is no other reason.

    The only real solution to have a stable currency is to close the central bank.