How Did CT Get Where It Is?

CT’s decline has been a long  slow step by step, policy by policy process.  The decline has been masked by a good economy and dependable defense contracts, but in the end the decline is the result of not watching the goose that lays golden eggs’ health and indeed feeding it slow poison.

http://www.forbes.com/sites/jimpowell/2013/08/01/how-did-rich-connecticut-morph-into-one-of-americas-worst-performing-economies/#2c536a13270e

http://www.ctpost.com/news/article/One-of-Westport-s-oldest-restaurants-to-close-8320042.php

When California looks like greener pastures, CT has a real problem.  I’m sure, from personal experience, that the kind of people that Mr. Vaughn was looking for are available. maybe not the young bucks in the Valley, but hardened experienced Software engineers with great talent.  I don’t think that that was the real problem though. The real problem is how much crap goes with actually hiring anybody.  Any job has overhead and CT goes out of it’s way to make that pain as large as possible for those in business.  Any business in CT has to deal with the government inflicting all sorts of niggly little pieces of red tape that nickel and dime businesses to death or exit.

A Hartford entrepreneur, dissatisfied with what he sees as Connecticut’s sparse high-tech environment, is relocating his start-up to Silicon Valley.

Wayne Vaughan, CEO and co-founder of Tierion, said his headed to Mountain View, Calif., to be near giants such as Facebook and Google and a rich community of investors and workers immersed in high-tech development, finance and research.

“I’ve got to go to the place that offers the talent and culture that supports a tech company,” he said. “You can’t be a tuna fisherman in Oklahoma.”

Tierion, which was established in 2015, offers blockchain technology, which provides the digital version of a paper trail and verifications critical to transactions in the digital payment system known as bitcoin.

“You can’t build a tech company in Connecticut,” said Vaughan, who is uprooting himself, his wife and infant son. “There’s a lack of talent. People I’m interested in recruiting are not interested.”

In addition, the No. 1 question from investors, he said, is, “What’s your strategy for growing outside Connecticut?”

“There comes a point you have to face reality,” said Vaughan, who started his first company, a digital marketing business, when he was 19 and now says he’s been “very lonely” as an entrepreneur in Connecticut.

The departure underscores Connecticut’s difficulty in establishing a robust high-tech industry.

http://www.courant.com/business/hc-startup-exit-20161014-story.html

When the only strategy investor want is an exit strategy from CT. CT has very real problems.  Having been caught up in the consequences of the policies that created the problems that CT is having it amazes me that the people in Hartford have never been able to see what’s happening. Yet year after year and decade after decade the only thing the Government in Hartford has provided the stat is ever higher taxes and yet more failed top down policies.

CT has never had a shortage of innovative industrious people. Given a chance those people can do great things and make CT the great, industrious and wealthy place it has been.  In order for that to happen, Hartford needs to stop picking every possible pocket to pay it’s cronies and the pensions of the people the states has been buying off for decades.  the state needs to learn President Trump’s favorite words; “your fired” and lose the massive state workforce that the state can no longer afford.  The state is going to have put pensioners on a diet because there simply is no more money. The state has better decide to cut the taxes and fees that are strangling the states businesses before there are no businesses in CT.  The choices right now are not pretty, but the way things are going, the end is pretty inevitable.  Right now it’s innovation or death and the attitude of the people in office here in CT seems to be that as long as they keep their privileges , the rest of the state can just tighten their belts and take it. the problem is that there’s almost no more holes in the belt left and there’s nothing much more to take.

Advertisements

4 comments

  1. penneyvanderbilt · April 2

    Reblogged this on Ancien Hippie.

    Like

  2. raven · April 2

    They simply don’t give a shit. They are in power, they have the perks, and everything else is just BS handed out to the peons. As long as they can funnel enough money to the right people to get re-elected they are safe- this is a “Curley” effect writ statewide, rather than citywide. It is what Obama and company was trying to do nationwide, in reverse.(bringing in dependent votes, rather than forcing out opposition) Every conservative or fiscally responsible person who leaves for greener pastures is one less opposing vote. The money people in CT are probably ( a guess) 95% from NYC, who could care less if New Britain or Waterbury or East Hartford turns into Camden North.
    just out of curiosity (I have not lived in CT since 1975) how much has Pratt re-invested there-are they running for cover too?

    Like

    • jccarlton · April 2

      Actually Pratt has been growing lately with the introduction of it’s new engines and some new plants. But nobody else is and the idiots in charge don’t seem to understand that Waterbury, Bridgeport, Ansonia, big chunks of New Haven, New Britain and East Hartford are already heading for Camden or worse, Detroit.

      Like

  3. Sam L. · April 2

    It would appear the CT’s slogan is also Taco Bell’s: “Run for the border.”

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s