• Case Event 2

Steve Case

Chairman and CEO, Revolution, LLC | February 23, 2012
Steve Case calls for a new wave of entrepreneurship to revitalize the American economy.

Essential legislative reform that is necessary to re-stimulate entrepreneurship in the United States was the focus of remarks made by Steve Case, Chairman and CEO of Revolution LLC and co-founder of America Online, at a breakfast meeting of The Economic Club on February 23. A passionate advocate for entrepreneurism, Mr. Case said that immigration reform and action to improve access to capital and streamline the public-offering process were critical steps toward rekindling the primary engine for economic growth in America–new businesses. Subsequent to Mr. Case’s appearance at the Club, the House of Representatives on March 8 overwhelmingly approved legislation that would ease access to investments and capital markets for small businesses. Similar legislation has been proposed in the Senate.

Excerpts from Event

“. . . we’re also now – in the past decade – seeing the globalization of entrepreneurship. Other nations around the world are realizing that this is part of the secret sauce that’s made America unique and are trying to replicate that and put the right policies in place to create their own entrepreneurial ecosystems.  . . .We need to make sure we’re not asleep at the wheel now and don’t lose entrepreneurship and these high-growth innovative companies to other nations as they step up their game.” ~ Steve Case, Chairman and CEO, Revolution, LLC, Founder of AOL

“The story of America really is a story of people taking risk, including original folks who came over here on boats just believing there was a better life, a better world ahead. The reason we’ve developed over the past two centuries to be the leading economy in the world is the work of entrepreneurs, creating not just companies but entire industries. That really has propelled us into a leadership position, globally. So I think we need to recognize that as a key part of the American story and celebrate the work of entrepreneurs. We also need to, at this particular juncture, double down as a nation in our commitment to our entrepreneurs – because that’s really the key to drive our economy.” ~ Steve Case, Chairman and CEO, Revolution, LLC; Founder of AOL

“The reason we’ve developed over the past two centuries to be the leading economy in the world is the work of entrepreneurs, creating not just companies but entire industries. That really has propelled us into a leadership position globally.” ~ Steve Case, Chairman and CEO, Revolution, LLC, Founder of AOL

“If you want to get the growth rate up, you’ve got to innovate. And that’s usually going to come from entrepreneurs. . . . If you want to create jobs, the best way to create jobs is to fuel the growth of these young, high-growth companies. The Kaplan Foundation, which does great research on this, says over the past three decades, 40 million jobs have been created by these young, high-growth companies. That really accounts for all the net job creation in the country.” ~ Steve Case, Chairman and CEO, Revolution, LLC, Founder of AOL

“These high-growth, young companies are where the leverage is in terms of job creation, innovation, economic growth.  . . . having a more focused set of policies around entrepreneurship, these high-growth companies, is critical.  . . . this is a strategic priority for the nation.” ~ Steve Case, Chairman and CEO, Revolution, LLC, Founder of AOL

“. . . this nation was not built just by entrepreneurs; it was also built by immigrants. The track record of entrepreneurial companies that are founded by either first- or second-generation immigrants is significant. Ernst & Young has their Entrepreneur of the Year Award program, and about half of the winners of those companies are first- or second-generation immigrants.” ~ Steve Case, Chairman and CEO, Revolution, LLC, Founder of AOL

“We still do a really good job of getting some of the best and brightest to come to our great universities and get Ph.D.s at MIT or where have you. But then, unfortunately, we kick them out of the country and essentially force them to go home and start companies there that then compete with us . . . we’ve got to continue to attract and keep those people. They are the people that create the companies that create the innovation, that drive the job creation.” ~ Steve Case, Chairman and CEO, Revolution, LLC, Founder of AOL

“The cost and hassle of going public has resulted in companies going public later – or, more often, being sold and never going public – which is a big problem because most of the job creation – 90 percent, according to some studies – comes after companies go public. So if companies are sold, they often slow down in terms of job creation, because of consolidation. If they go public, they have the ability to accelerate job creation.” ~ Steve Case, Chairman and CEO, Revolution, LLC, Founder of AOL

“. . .technology can be a very positive, disruptive change agent, really, across our economy and across every aspect of our lives. Health care, education, energy – some of the great sectors that are really core to how we think about everyday life – I think are going to change dramatically over the next 25 years.” ~ Steve Case, Chairman and CEO, Revolution, LLC, Founder of AOL

Related Tags | Technology