“Investments in Internet-specific companies rose to the highest quarterly level since 2001. Venture capital firms pumped $2.3 billion into 275 web-oriented companies during Q2 2011, a 72 percent increase in dollars and a 46 percent increase in such deals from the first quarter of the year.” According to Money Tree. Even www.usajobs.gov lists over 3,000 open postings for “Information Technology Management Specialist,” and next in line is “Management and Program Analyst” with 1600 openings.
The Internet may have boomed and busted in the past, but today the experts have figured out how to value, monetize, and track everything from clicks, impressions, buys, sells, posts, likes, +1 and the like. The Internet is big business. However there is one problem – who to run it.
There is a huge shortage of “technical” people in the workforce right now. A lack of CTOs, programmers, web developers and so on. Even with this dearth of talent, the VC community in Silicon Valley cannot raise money quick enough for new start-ups in the mobile and Internet sphere. So the demand is there.
There are no professional program for CTOs at the moment – plenty for MBAs and JDs – but none for the beloved architects that design and build the very way we exchange commerce and communication today through the Internet. So technically-orientated engineers are needed everywhere – they build mobile apps, trading platforms, websites, and the like. They are the reason the Internet fulfills it promises and works. Needless to say they are also expensive as the supply doesn’t exist.
America continues to whine about there not being any jobs – simply not true. There are jobs. Just are not the right people with the necessary skills to fulfill them. Some pundits — and a president — pound the table yelling “Infrastructure! Infrastructure!” I cannot argue that our roads, levees, and bridges need some maintenance, but this is a short term solution. There is a finite amount of construction projects – unless we want to build more roads to nowhere.
A great poet once wrote “Send Lawyers, Guns, and Money.” Well we have plenty of liquidity, the surplus of lawyers is alarming, as for guns, if the pen is mightier than the sword, then I’ll take social media over an arsenal any day.
Innovate, America, and stop whining. Send programmers, web developers, and technical engineers and let’s stop outsourcing what we really need.
What if the private sector was to enter into “apprentice” like programs – think investment banking programs in the 80s for new graduates. Except this time focused on training new hires on how to make the web, mobile apps, and the internet etc. work better for the company? Or better yet create investment arms to finance more young innovative start-ups.
This way the private sector can train people to “fit” in their company and if it turns out they’re surplus – at least that person’s skill set is better than before.