| Recently, I attended a Venture Capital | | | | will see a mass exodus from the U.S. workforce. |
| Conference in which one of the speakers | | | | All industries will be affected. One poll predicts that |
| predicted we would see technology change in the | | | | 200,000 engineers will be left to replace jobs |
| next 15 years that would rival advancements | | | | vacated by 2 million engineers retiring from the |
| similar to the past 100 years. That is a bold | | | | US workforce. The current attention is placed on |
| prediction, but as new technologies continue to | | | | healthcare, however, the retirement of the |
| emerge we are seeing some of the so called | | | | workforce will also impact logistics. Companies like |
| "Star Trek" and "Star Wars" technologies are now | | | | Federal express may place a higher value on the |
| becoming reality.I suggest that if you are | | | | employees who actually get the goods delivered |
| interested in capitalizing on these changes, just | | | | to the office, versus the pilots that fly the plane. |
| look to the trends in the Venture Capital | | | | Part of the answer to the workforce is to bring |
| community. Current trends in the Venture Capital | | | | better technologies through globalization to the |
| community outline three areas that will be the | | | | business community.Web 2.0The way we see the |
| center of focus in the short term: Cleantech, | | | | web today will also change. Web 2.0, sometimes |
| Globalization, and Web 2.0.CleantechThe high | | | | called the "New Internet," is an umbrella concept |
| energy costs are creating interest for alternative | | | | that suggests a Web-centric source for all data. |
| sources of energy. The government is currently | | | | We are seeing more companies preparing for |
| putting in place several initiatives encouraging | | | | disaster recovery solutions as dependence on |
| moving the American consumer away from our | | | | technology increases. With "thin client computing", |
| dependency on oil. The subject of cleantech is | | | | users access data from any computer via the |
| permeating the VC world. Cleantech offers broad | | | | Web browser, be it news, weather, reference |
| applications in energy, agriculture, water, | | | | information or even application software, whereas |
| transportation and manufacturing, and promises | | | | the computer itself has nothing stored on it. Web |
| many advantages, such as more efficient uses of | | | | 2.0 has contributed to the rapid growth in blogging, |
| raw materials, less waste, better performance, | | | | tagging, browsers, streaming media, and other |
| and potential to drive up the bottom line. Many | | | | creative services for the mass internet user |
| also embrace cleantech for its social good beyond | | | | (search, movie reviews, event listings, etc.). We |
| the returns.The prospects for technology | | | | expect the internet use to continue to |
| advances in this areas are improving as more | | | | improve.We really do live is exciting times and will |
| resources and human capital is entering the field. | | | | participate in the creation of some remarkable |
| We expect more companies to show revenue | | | | technological advancements. Following the trends |
| generation in this area creating futher | | | | of the Venture Capital community can help us |
| interest.Recently, several cleantech funds have | | | | predict where the changes are apt to occur |
| appeared or funds with cleantech as a focus. | | | | first.Alan L. Olsen, CPA, MBA (tax) is the Managing |
| Even though cleantech does not have an | | | | Partner at Greenstein Rogoff Olsen & Co., LLP, a |
| established track record like IT or life sciences, | | | | top Bay Area CPA firm. A specialist in income tax |
| we expect to see increased interest and | | | | planning, he frequently lectures and writes articles |
| continued deal flow in this area over the next five | | | | on tax issues for professional organizations and |
| years. Early investors into this market should | | | | community groups. Alan has over 21 years |
| expect ample rewards.GlobalizationThe big | | | | experience in advanced tax planning including |
| challenge in the U.S. labor market begins in the | | | | international tax, company reorganizations, |
| year 2008 when the first of the baby boomers | | | | multi-state taxation, stock options, estates and |
| will reach age 62. Over the following 15 years, we | | | | trusts, and representation before tax authorities. |