Silicon Valley has been rather quiet and “rather
smooth” in its reaction to both the shutdown crisis and talk of financial
apocalypse if Congress and the President let the country default by failing to
raise the debt ceiling. New York
Magazine has this story by Kevin Roose here with a thumbnail of Mark Zuckerberg smiling
as if to ask Diane Sawyer, “Is that a question?”
The Washington Post Wonkblog has a piece by Lydia
DePillis, “Why Silicon Vallye has been silent on the shutdown”, here. The article itself does mention the debt
ceiling, which is much more serious. But
the companies generally say they are financed by venture capital, and not
dependent on loans the way consumers are. Start-up’s a re continuing with
little evidence of concern.
Still, companies should be concerned if the wheels
of the economy fall off, because they depend on consumers. And they do depend on an economy that
functions. And the do depend on equity,
which is depends on the stock and bond markets.
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