Can the UK Create Something To Rival Silicon Valley? 395
An anonymous reader writes "Hoping to bring together ambition, creativity and energy in one place, the UK government hopes to grow East London so that we can benefit from the same sort of success that has been seen in California; jobs, tax revenue, highly skilled workers and takeovers. If it works, the country would massively benefit, with something to rival other established industries."
Re:But actually living in London is a challenge (Score:5, Informative)
As expensive as the Bay Area is relative to the rest of the country, it still pales in comparison to nice areas of London.
Re:Why not in Cambridge? (Score:3, Informative)
That wouldn't displace enough poor people.
Re:its called HUGE tax breaks for R&D (Score:3, Informative)
I thought California is broke because people can vote for propositions while simultaneously voting against any measures to fund said propositions. The general fund isn't an unlimited source of free money.
The White Heat of Technology (Score:4, Informative)
It's a recurrent theme in British politics. Look up Harold Wilson's 1963 "White Heat of Technology" speech and the creation of the Ministry of Technology.
Britain within living memory has been a technology leader in aviation, nuclear, computing, Those were largely developments that came out of the war and declined in the face of a dependence on government money for investment (and in the latter case, an unwillingness to admit even to the existence of the technology).
Private investors aren't interested in long-term investments - the "investment banking" industry has become big largely because it's eschewed actual growth-producing investment for complex financial instruments which are essentially a form of privatised taxation.
There is still a lot of high-tech industry (take Rolls Royce aero engines for example), but it survives and grows pretty much in spite of the business environment. It's no accident that Britain's now successful, productive and growing car industry is owned and financed from Japan, Germany and India.
It may be possible to grow IT-based industries in London, but they won't be owned in London and nor will any IP associated with them. And I'm afraid the government is sufficiently clueless about technology that it might actually feel it needs to encourage businesses like those cited by the article ( Instagram, Skype and Groupon) whereas there is probably a lot to be said for actively discouraging them.
Plus, this seems to be all about exempting businesses from paying their normal dues. I'm all in favour of foreigners spending money in London. I'm not in favour of the government giving it back with interest to encourage them.
Re:No. They can't. (Score:5, Informative)
Your summary of the article is stupid. None of those sentences are quotes. In fact the article states at the end that SVs great weakness is that it's a crap place to live, directly contradicting what you wrote. Here's an actual quote:
Yes, yes it is. Having lived temporarily in the Valley and grown up in the UK, I'm pretty sure I don't want to live along the US-101. I'd do it if there was some really compelling reason, but otherwise no thanks - love the sun, hate the driving. Rents and property prices in London are absurd and most likely still a bubble, but other than that it's not a bad place to live at all.
Your other points (not quotes) are also pretty stupid. There are a ton of well educated people in London, as well as many Brits working for Silicon Valley based companies. The UK has a long history of computer science, you know about Bletchley Park, right? The BBC Micro? The government doesn't deserve any credit for it (the BBC does!) but there were a ton of people growing up in the 80s and 90s who had access to really good computers and lots of educational material about them. It certainly got me started. At 28 I'm now a senior engineer at Google (in Switzerland).
BTW I think it's really great that companies like Amazon, Facebook and the big G have set up shop in London. These companies are great at training people who can then develop the confidence and skills to go do their own companies (Facebook was practically made of ex-Googlers back in the day, don't know if it still is). Especially anything internet related that might scale up fast will benefit a lot from the pool of skilled workers these companies will attract and create.
Re:Can they? (Score:4, Informative)
That's incredibly narrow speech. You make it sound like we have no freedom of speech because we can't threaten the President. That narrow restriction does not only apply to him/her either, but also applies to my neighbor as well.
So aside from some very narrow restrictions on speech, there is a much greater freedom of speech in the US, and you certainly cannot view the UK and the US as equals in that regard.
Re:its called HUGE tax breaks for R&D (Score:5, Informative)
My previous employer had a non compete clause, but then they were an American company (though they waived it when they moved our dev jobs out of the UK and made us redundant). My current employer (which is British) doesn't, and I don't remember any British company that I worked for having one.
Re:It's a pointless question. (Score:3, Informative)