Fate of Silicon Valley bleak, according to silicon CEOs
Silicon Valley has a serious location problem, according to a couple of semiconductor CEOs.
Chief executives from Intel and Cypress Semiconductor say Silicon Valley is in a bad state.
Literally. The basic problem is California, according to recent comments from Intel CEO Paul Otellini and Cypress CEO T.J. Rogers.
Speaking at the Intel Capital Global Summit on Wednesday, Otellini said Intel has not added a job in California in at least a decade, according to a report in The Wall Street Journal.
He characterized California's future as bleak for businesses. "We're so close to screwing it up, it's pathetic...I worry that we have to hit the abyss before we can fix things, and I worry that the abyss will be more like Greece," he said.
If you think that sentiment is negative, listen to Cyrpress' CEO speaking to EE Times.
"California is one of the most hostile places to do business on the face of the earth," he said.
Rogers bemoans the fact that all of Cypress' manufacturing has left the Valley. "People are on the street and the lights are off," Rodgers said.
Of course, this isn't the first time silicon luminaries have lamented the state of Silicon Valley. Former CEO and co-founder of Intel Andy Grovemore than a few times.
But the fact that California is consistently cited as the primal negative force driving businesses out of the Valley should have non-Silicon CEOs worried too.