Newsweek: Could Silicon Valley become the next Detroit?

by Bharat Suneja

Unless we spend more on technology and science, companies like Apple, HP and IBM could be eclipsed by foreign rivals, according to this article in Newsweek. It’s not the first time we’ve heard that, and it won’t be the last— but equating Silicon Valley with the U.S. auto industry and projecting it may land in a similar state in the future should send chills down your spine even if you are not vested in the technology industry.

Prith Banerjee, Senior VP at HP and Director of HP Labs, the company’s central research organization, says:

The rest of the world has been rapidly boosting spending on science and technology, while the United States has been, in effect, scaling back. There is a perfect storm headed toward our tech industry.

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