Investing in Technology

" I guess we -- you like -- in a down market right now the guest says that in this environment all the consumers make curtail their spending. They still want to feel good that someone have a little bit of fun Alina that joining us now from the Consumer Electronics Show in Las Vegas warm Packers. He's managing director Draper Fisher Jervis and an early stage venture capital firm IEI I take myself back to the dotcom days as a reporter in the Bay Area. And Angel investors. Were everywhere in Silicon Valley and big money was flowing if you if you knew how to. Manufacture pencils the right waited Prakash you as anybody throw cash around now and technology."

" Oh absolutely there's a lot that we have to look forward to the technology sector we're investing well here we are in the Consumer Electronics Show. So connect consumer electronics consumer services consumer applications. All these things continue to grow unabated even in the down economy -- connect clean attack. Cloud computing mobile applications and technologies says a lot for us to invest in and we continue to invest. Are you talk about the three C is what are the three cities. That's -- theses are the all the innovations in the consumer experience. Cloud computing. And clean technology. So those are all of those three areas were doing the deep dive and right now we've been investing in technologies now for the past five years very aggressively. Some of our affiliated funds have been investing intact or 20/20 five years. Great place to be investing -- and also in -- consumer electronics and consumer services on the Internet. We've been investing in ever since the the Internet became the world wide web and -- were jumping on the Internet so these are I trends that continue again unabated and."

" What you know part of what are you. Warm Clinton knows so well and I knows -- what is -- in California is that. You money you funding. To come up with the next new gadget the next breakthrough in science and there is no money there -- so does the economy. And the wrapped around right now does that slowed down the VC picture."

" Yeah I mean. Which when it comes to the slowdown in the economy we always look at that as a temporary phenomenon he certainly these are very difficult right now. We saw the unemployment numbers we see what's happening in the banking sector. But for us we take -- a view of the world to to five years out. And the economy will recover. And innovation -- happens right now is a great time for us to invest entrepreneurs are coming to us with the ideas that are going to turn to business opportunities. That are going to be the blockbusters. Over the next two to five years. That's what we invest in the creates jobs it creates opportunities. And it creates the applications and services that consumers and businesses will be able leverage for the future."

" Okay so what is that. What what is the next big product what is the next hot thing that we have to invest in the people are investing in right now."

" Well what are the areas that I I mentioned -- cloud computing. Going to be taken a lot of the resources that we have that are local you know you have computers on your desktop computers in your data center we're going to be putting that. Back compute capacity storage. Band with all of that out in the clouds and makes it much easier for. Enterprises and consumers to get -- applications and services that they need. This is being built out right now you -- some the larger companies that are providing it the the basic services for that like Amazon. Like Google. Like Salesforce.com. Within the applications that Wright resigned on top of that. Are enabling people to do all sorts of things it usually took you know months to deploy now can take. Days or even hours and sometimes even minutes to the boys who were gaining more and more power at her fingertips because what cloud computing enables sports as well."

" Certainly -- those investments of money you may hope within that area outlined Packard managing director Draper Fisher Jurgensen Warren thanks for joining us joining every cancer. The -- right -- realize they have."