"Obamapreneurs"

Great piece by Forbes' Rich Karlgaard:

"Well, Barack Obama is a symbol of the future" or "Obama is good for America's brand in the world." The best argument in this vein is put forth by Forbes.com Opinions Editor Tunku Varadarajan and embraced by many Silicon Valley immigrants: Obama would sever the link between Western civilization and whiteness. That would make Western civilization go down easier among nonwhite people.

I hope that's true. But how does one reconcile the comfort of a cool-headed multicultural Obama with his own nasty words on trade (on which Silicon Valley depends) and economic redistribution (which is antithetical to Silicon Valley's meritocracy)? Why do the Obamapreneurs in Silicon Valley think he will be good for entrepreneurship?

The answer is: hope and faith! That's how one can argue that Obama will be good for the very thing that Joseph Schumpeter said drives economic progress: entrepreneurship and investment. (full article)