Venture Capitalist Tim Draper Leads ‘Fix California Challenge’

By Economic Indicators FOXBusiness

During a conversation on FOX Business Network’s Mornings with Maria, Venture capitalist Tim Draper, Founding Partner of Draper Fisher Jurvetson, called upon the millions of Californians to step up and overhaul their own state.

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“We’ve got 38 million people here in California, why don’t we crowd source ideas and so we created this site InnovateYourState.org and we’re bringing together all the Californians and we have the ‘Fix California Challenge’ and that challenge brought about 550 different ideas to us and now we’re down to the final four.”

Draper took a step further, even offering to potentially put money behind one of the ideas.
“What I said was I will either fund as a venture capitalist, donate to or potentially put something on the ballot or help put something on the ballot.”

Draper also addressed the state of the U.S. economy which is forcing more individuals to create their own jobs.

“Well most of the growth in the economy comes from this innovation, all these entrepreneurs, people out of college can’t get jobs so they have to create their own jobs, become entrepreneurs, that’s part of the reason we have Draper University is to attract those entrepreneurs.

Draper also cautioned about the danger of bloated government.

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“If you want growth in the economy you certainly don’t add more bureaucrats, you don’t build a bigger and bigger government, government is a very inefficient way to grow your economy, the private sector grows the economy and does a beautiful job of it.”

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