Is there some sort of recession in the works? You sure wouldn't know it here at the Intel CEO Summit in San Francisco. The mood is downright giddy.
"Inventive minds do not stop inventing just because of a recession," declared Arvindh Sodhani, president of Intel Capital.
Still, we detected some anxiety boiling beneath the surface. One CEO told us bluntly -- "Listen, it's not a question of 'if' there's a recession, we're in a recession."
And on a panel discussion on the economy, the mood wasn't much brighter. Of 57 tech IPOs since since January 2007, only 8 are trading above the issue price, according to Scott Cutler, a senior vice president of the New York Stock Exchange.
Still, despite the doom and gloom, the sentiment is surprisingly optimistic. Attendance for the event is at an all-time high and from where we're sitting, it sounds like deals are getting done.
"Neither the VCs nor the entrepreneurs are nervous, says Vish Mishra, a venture director for Clearstone Venture Partners. "The best entrepreneurs totally shine during a recession. There may be a slight economic slowdown, but we're nowhere near a recession."
Photo: Courtesy Intel
