we are, indeed, fortunate, from san jose to san francisco, to be part of the innovation economy. we are finally seeing once again california's innovation is leading us out of the last three years of recession. i do not know about you but i am pretty tired of the recession. i made a statement several years ago that it was about time for an adjustment to the economy, things were too expensive, overheated. two years after that, i regretted making that comment. it was great to hear jim say when you look at education, you look at the programs, traveling around the world, that there is one constant. there are people and technology that say this is a place they want to be. entrepreneurs say this is where they want to be. when companies like facebook are started at an institution like harvard and a pier, you start to recognize why this is so special and fiber and why innovation is a bleeding heart economy. so let me try to give some brief introductions about our panel today. i have to confess, i only just met one of our panelists, lee said dyson, the ceo of coverity. she got a ph.d. in p

it is for innovation economy, ceo's in this region to join at the leadership group basically for free. because we want to capture in the them to the dna that david packard, our founder had, which was a balance of running, brilliance, dynamic companies while, at the same time, being deeply engaged in your communities and in the quality of life of your employees. that is the scale that we want to raise up in these incredibly innovative young entrepreneurs. we have about 20 of them here in the audience today. i want to just mention three of them and embarrass them. they do not know i am going to do this. all of these at this in common. they have less than 40 employees currently. their business has been around for less than four years. and, like me, they are younger than 40 years old. [laughter] why are you laughing? [laughter] let me introduce the ceo of snoozie. stand. [applause] the ceo of good joe. [applause] and the ceo of sylvantex. [applause] a lot of these start-ups doing incredible innovation. some will succeed. others will not. these people, however, will succeed no matter what

pushed our efforts to a new level of mutual cooperation in education, science, technology, innovation, economy, multi- cultural, and multi religious dialogue. this is one of the best avenues to build knowledge based societies of the two countries nd to crearte peace and harmony among nations. i want to bring your attention on one of the various of the holy koran stainting that all mankind, we have created due from male and female, and major indonesia, -- made you indonesia, and that you may know one another. the most honorable of you in the sight of god is the most pious and the righteous per se. son. the university has become a living university in developing accidenexcellence. and developing people of spiritual, moral, ethical value. in accordance with this vision, in this university, we provide education based on what i call the three pillars of indonesia. first, . second, equity. third, an entrepreneurship. excellence in education. euqitquity. we provide fair educations to all levels of society regardless of their ethnic, gender. religious and social background. in order to create pious an

has population growth, has strong immigration and is an incredibly innovative economy. you add those components

the communications sector continues to be one of the most dynamic and innovative in our economy, and i hope this is just the first of many hearings this year that allow an opportunity to learn and discuss the marketplace and update the committee's record. mr. chairman, the obstacles between consumers and the video content they seek continues to disappear. and the video market, tremendous advancements in technology and massive capital investments in distribution networks now empower consumers to craft their own viewing experiences more than ever. at the root of this increasing consumer power and choice is a complex and overlapping mix of content creators, distributors and electronic manufacturers racing to serve the marketplace better. a few such companies from this mix are with us today. with innovation empowered individuals however comes disruption to establish mods and incumbent powers. unfortunately many of our current video laws and policies were sought and achieved decades ago by established interest seeking government granted protection from market forces. they were written for

but in these difficult economic times, they provide a certain component to the economy which allows us to innovate and grow at a rate that we otherwise would not. in short, immigrants of all types unaverage are net contributors to the economy, help the actual pie grow bigger, provide more of a pie to split among us all and in turn try to goose innovation in a couple of unanticipated ways. so first, kind of three big points. immigrants are a net contributor to the economy. it is easy to be distracted by the fiscal analysis which is about tax revenues and expenditures. entire categories of people at a certain phase in their life and a certain period in their economy are net users of tax resources. as it happens since we're running a big federal deficit right now, we're all net users of resources. if you add us you will up together, we're not producing enough revenue to cover the expenses of the government. people that are older, children, those are categories of people who are net drains on the economy. that's a fiscal analysis, not an economic analysis. so point number one for your friends who are

forward to working with you to figure out how we create san francisco as the capital of innovation and the new economy. before i joined the board of supervisors, i started a web 1.0 company. what makes our city special is that everyone of you have ideas that will change our city and change the world. our mayor is responsible for managing the 50 plus executive- branch departments that will be interfacing with many of the policy areas you impact. scott and i and our colleagues are in charge of legislating and adapting to new technologies you have that are changing the way we all live. one thing we like to say at city hall is that as goes san francisco, often times so goes the rest of the country. as goes the rest of the country, so goes the world. i believe we're starting something special today that will do that for the entire planet. thank you for being here. i am looking forward to working with you. [applause] >> welcome. my name is ontario smith. i volunteer is a member of the board of directors. i would like to welcome you for the dialogue on the shared economy. spur is a non-profit organization. w

ability to manufacture things then you have to be concerned that you lose other aspects of your innovation economy. >> there's much more i i want to ask, john. but let's get to some of your questions as well. if you haven't begun to question, lots of time to do that. pass them out to the people who collect them. let's get to some of your questions in a return to some of mine. how many nobel prize winners do you see coming out of twitter, facebook and google? [laughter] do i have to answer that? >> are certainly great people there. i wonder -- you know, i look in the magazine now that covers a lot of that industry. and i used those products and they're very cool. i don't certainly think every company or even any company we could talk about basic research should invest in. i don't think facebook should start hiring theoretical physicists. i don't think makes a lot of sense. i don't know if they should be pursuing nobel prize is, so there's that, too. >> you pose at the end of the book a question about sort of what would people at labs in the payday think of in these sorts of innovations today? and w

indeed private investment, innovation and job creation are up across the broadband economy. these metrics which are outlined in my written statement are up both when looking at broadband applications and services and looking at broadband providers and network infrastructure. in 2011 the u.s. information and communications sector grew three times faster than the overall economy. broadband is helping create new jobs all across the country and not just for engineers, although it's vitally important that we lead the world in ne but also for sales people, construction workers and small business owners increasingly using the internet to boost sales and lower costs. these -- sorry. we're also now ahead of the world in deploying 4g mobile broadband at scale with 64% of the world's 4 ge subscribers here in the u.s. in the next generation networks are projected to add $150 billion in gdp growth over the next four years created an estimated 770,000 new american jobs in. todayed hyperconnected flat world, the success of american companies as well as global prosperity depends on a dynami

usually washington or european capitals getting in repeat here is a golden chance for innovation powers emerging economies to make you know an important intervention that will show that you know the world order is changing otherwise if you leave it again but if you go back to the security council where you know again france and britain and the yourself to form some going to resume lucian against one of the other side for exert edition and for writing so really it's back to square one and whether it is china india or malaysia could become not put in even jointly do something to end this conflict which is not benefiting anybody the west has no mistakes and because the companies are going out of the game altogether it's watching a bystander because of your sanctions on sudan since the gulf war and these are the genocide charges and the western emphasis on the wall crimes committed by president bashir there is been total lack of access for vast incorporations so it's interesting that even south sudan we just created. western suborder intervention at the international level he's increasingly turning to china a

we know that american companies that are most innovative on the internet, it would be a big loss to our overall economyand innovative position if that were deterred through heavy regular share. that was paramount in our thinking throughout this process. but we ended up proposing and what the administration has set forth as the plan is to enunciate some very specific privacy principles. those are the seven elements of our consumer bill of rights. they are very straightforward, declarative sentences of what consumers have a right to expect. we really did model it against the constitutional bill of rights. then we had a choice. what we could have proposed was that those basic principles be taken and handed off to a regulatory agency for a lot of detail making and creating of definitions. but that we felt good lead to the outcome we wanted to avoid. which was heavy-handed regulation, descriptive or prescriptive regulation that would actually, by not being able to predict where technology will go, it would hamper innovation. our solution was let's let the private sector will in the gaps. let's bring industr

washington are you know going to get bigger to get in but here is a golden chance for innovation powers emerging economies to meet her in an important diplomatic intervention that will show that you know the world order is changing otherwise if you leave it again for it to go back to the security council be you know again france and britain and the us are going to farms i'm going to resume against one of the other side what exactly going in and sort of violating sovereignty is back to square one and whether it's china india or malaysia would become not putting even jointly do something to end this conflict which is are not benefiting anybody the west has no stakes and because the rest of my companies have been out of the game altogether it's watching as a bystander because of u.s. sanctions on sudan since last fall and because of the genocide charges and the western emphasis on the one crimes committed by president bashir there is been total lack of access of western corporations so it's interesting that even south sudan we just created. western support any intervention at the international level easy inc

know will grow our future, education, innovation and infrastructure and at the center of that innovation economytter oaf ten years, a commitment to a strong super cluster and establishing our preeminence in the world and securing it out into the future and it's been incredibly exciting. >> i'm curious, the role of government in job creation, always a big topic here on this show and clearly you've taken a very aggressive path but it could have been the wrong bet. >> well, you know, in some respects any government investment is a bet. you put a road where you think -- not just where the population is but where you think the population is going. but i think that, first of all, as someone who spent most of his life in the private sector and in large companies mainly, jobs are created by business, not by government, but government has to create the conditions where businesses want to do that. and there are certain things the governor must do and do well and i think that's invest in education because it's our gate way to the future, it's the way we lift everyone and i'm proud of the fact that our stud

so china's goal is to become an innovative, an innovative economy. it is a great goal, absolutely a great goal. the problem is the implementation of the gold. and so you have a number of underlying decrees in documents that has been around for a long time. the thing about china is if you read what they put out, you learn quite a bit. it is ironically reasonably transparent. so i'll just pick two. one was their medium term blueprints for science and tech elegy. where china is determined to reverse the ratio of foreign tech elegy conformant ip from what they calculated 6032 to reverse, 34 and 60 and indigenous in china. it laid out a series of projects. it laid out china's technical orientation and a series of megaprojects all in the technology area, laden with sophisticated intellectual property. as i got the notion that it would become the world's largest filer of patent. almost 30 years. but it would be in the top five of countries whose patents are routinely cited major scientific publications. it is a very long way from that. and the rapid commerc

entrepreneur center at harvard, author of "creating innovators: the making of young people who will change the world." thank you for joining us. our economypendent on the consumer. why is innovation so critical right now? >> we have to become a country that produces more, better ideas to solve more, different kinds of problems. we've always had great innovators but we've never produced innovation at a kind of skill that i think is required to transition economy away from a consumer-driven economy. >> how do you do that? what's missing? supporting those students who may create the next big thing and change the world, as you write? >> today, information, knowledge, is free. it's like air, water, growing exponentially, changing constantly. the aim of education should no longer be merely to transmit content through the teacher. it must be instead to develop the skill and the will that is required for using that content. the world doesn't care what our kids know, the world cares about what they can do with what they know, which is a completely different education problem. >> an important point to make, how do you do that? how do you make innov

and we know that american companies have been the most innovative on the internet, and we did a -- it would be a great loss to our economy and our overall innovative position if that were somehow deterred through heavy-handed regulation. that was paramount in our thinking throughout this process. what we ended up proposing and what the administration has set forth as the plan is to -- and some very specific privacy principles, and those are our consumer bill of rights, and they are straight-forward declaretive sentences of what consumers have a right to expect. we really did model it against the similarly spare language of the constitutional bill of rights. rights. then we had a choice. what we could have proposed is those basic principles and handed it off to a regulatory agency were making and creating definitions. but that we felt could lead to exactly the outcome we wanted to avoid. which was heavy handed regulation, very descriptive or prescriptive regulation that would actually by not being able to predict where technology is going to go actually hamper innovation. so our solution was, let's let the private sector

creating thousands of more jobs, creating an environment that will be welcoming of the new economy, technology, and innovationreinforce what we have been saying. we are the innovation capital of the world. with your help and involvement. we would like to have the rest of the city picked up and be part of it as well. we think we can have that conversation. we will need your help. we will need you to represent the new industry. these companies are here to keep the dialogue and collaboration at a high-level going with us. it is the ongoing dialogue like the one we are reading about a new tax structure for the city that does not punish the inventiveness we want to have. i would like to open with that introduction, welcome all of you here. i think he will see and hear an exciting introduction of these new companies. they're going to raise questions we do not have the answers to yet, but i do believe we have the spirit in this city to welcome solutions with your involvement. we will have the ability to do this on line as well is in these forums. i will be part of the ongoing discussion. i want to see all of you int

they will discuss the innovation and competitiveness in a global economy. >>> many at&t workers plan to show unawaring stickers again this morning. that is after the stickers were sent home. workers across the state say the letters do not stand for what most people might think. >> we refuse to take the stickers off and we refuse to go ahead and leave. >> they did e-mail a statement saying company policy rio de janeiro choir employees but we don't believe such a sticker or button is appropriate in our home businesses. >>> they are looking to why female firefighters in san francisco have a much higher rate of breast cancer. now earlier we told you went in their 40s in the fire department are ten times more likely to get breast cancer than other women. now they are proposing a first of its kind study to toxic exposures. >> there are dangers i haven't thought i signed up for. >> we are looking at what both men and women contracting cancer at pretty alarming rates. >> for 150,000 dollars they could start a pilot study and they are looking for foundation grants right now. >>> right now 450

innovativeness. it has driven our economy to be the strongest in the world.ut these last three and a half years they haven't been so good. these have been real tough times as you know. we have had 38 straight months with unemployment above 8%. and the president said if we let him borrow $787 billion we'd not have unemployment of 8%. we'd have 2.8 million homes foreclosed upon. we have today the longest period of long-term unemployment. the worst long-term unemployment record we've seen in america's history. home values have dropped in some places by 1/3 or more. the median income in america, the median income in the last four years has dropped by 10%. even as gasoline prices have now doubled. and as people are paying for more health care in part because of obama care. and so the american people are struggling right now and we have a president that doesn't seem to understand that he's been part of the problem not part of the solution. and i listened to him. he's got these ideas. his big idea now is this buffett rule, which is that -- someone calculated -- some

economy that lasts. where we're out-innovating the rest of the world.hat's what the president is fighting for every day. >> ben labolt, thank you for your time. >> thanks for having me, piers. >>> coming up, rick santorum. will he endorse mitt romney? my exclusive live interview with rick and his wife karen who are entering the studio as i speak. welcome to you both. this could be great. after the break. [ pilot ] flying teaches me to prepare for turbulence. the key is to have a good strategy. the same goes for my retirement. with the plan my financial advisor and i put together, a quick check and i know my retirement is on course. [ male announcer ] with wells fargo advisor's envision plan, you always know where you stand. in fact, 93 percent of envision plan holders say they will retire on their own terms. get started on the plan you need today -- wells fargo advisors. together we'll go far. yoyou u wawalklk i intna coconvnvenentitiononalal ms ststorore,e, i it't's s rert ababouout t yoyou.u. ththeyey s sayay, , "w"weleu wawantnteded a a f firirm m be

after all the news for you ross is that right ministry a stable growth in the country's economy even if the innovation sets it so late it says the company will see an annual growth of around three point five percent within the next twenty years that's of course with the help of still oil now six but this is least one hundred sixty dollars per barrel the latest let me say it could be some decline in demand for the russian and a g g to increasing gas production in africa australia the middle east. the french for a while french supermarket chain this planning to sets of its own bank is thus up cumbersome bailey says it wants to give loans to consumers itself without paying to the middleman local information agency in for a line says russia provided around fifteen percent of assad's global cells in twenty ten. twelve there is a substantial amount of the next hour we're going to be talking also could be talking russian stocks as well also told me that ok casey more from you later thanks. but the preparations for your twenty eight football world cup in russia are in full swing the story still being six year