Technology

From the latest polls to kitchen tables across America, it is clear that our nation is deeply divided over which presidential candidate is best equipped to lead our economy forward. Yet precious little public conversation has focused on the most promising catalyst of America’s economic revival —Internet-fueled innovation.

As the euro zone descends into an existential debate between austerity and growth, U.S. Democrats and Republicans alike need to coalesce around a vision of what growth looks like—and how we get there.

This week the Senate Judiciary Committee will pay attention to Universal’s proposed acquisition of EMI. Certain groups have taken to advocating against the deal, arguing that the combined firm would be too big and could harm consumers. Although it is easy to paint a picture of a music giant, any claims of potential harm are simply inconsistent with the simple facts of the market, decades of antitrust law, and commonsense economic policy.
 
Let’s start with the simple undeniable facts. The music industry bears little resemblance to that of a decade ago. Because of the emergence of digital music the forms of distribution have skyrocketed. Consumers have almost limitless opportunities to acquire or listen to music.

When Mark Zuckerberg had just a few friends, Facebook wasn’t worth all that much. With nearly 900 million users, the social media startup is now worth more than all the major airlines combined.
 
A single electronic medical record is a helpful personal organizer. A database with all Americans’ electronic medical records will advance medical research, reduce health care costs and save lives.

Smart policy and the removal of economic barriers have driven the amazing development of the Indian economy over the past few decades. Yet, today, that progress is threatened by new obstacles being erected by the Indian government – obstacles that could, ironically, isolate India from the benefits of participating in the global market. If left unchecked, other nations could mimic the Indian approach, injecting even more uncertainty into the fragile calculus of the global economy.

The federal government’s research partnership with academia was forged during World War II and took off during the space race of the 1960s. More than half of the nation’s economic growth since then can be traced to science-driven technological research and innovation in the fields of health care, energy, education, communications, transportation, manufacturing, defense, and more. We need to continue nourishing research and development (R&D) and rewarding cutting-edge scientific innovation. The often untold story of these federal research partnerships is the tremendous return on the government’s modest investments and the jobs created in every state, which is why concerned members of Congress are stepping forward to advocate for preserving and growing these investments in our nation’s competitiveness.

When a corporate CEO characterizes a competitor as having “a massive IPO, dominance in the marketplace, and a blank slate from policy makers to do practically anything they please,” you can bet on two things: first, the CEO is losing the race for consumer loyalty and support; and second, the CEO is hoping the government will knee-cap his competitor to make the race more “fair.”
 
That’s what Nextag CEO Jeffrey Katz says about Google in today’s Wall Street Journal. You can almost hear him say, Google ate my homework.

It’s hard to tell who will be the biggest loser in the aftermath of possibly the most disastrous Internet Initial Public Offering (IPO) in history – Facebook or Morgan Stanley.

With an IPO price of $38, the stock rose to $45 before plummeting as low as $26.44. Wall Street's rejection of Facebook's valuation continued this week as the renowned sell-side firm of Sanford C. Bernstein & Co. initiated coverage with an "underperform" rating and a $25 price target.

One thing is for sure, Facebook’s problems are only just beginning. There are now multiple shareholder lawsuits against Facebook and their investment bank. The Securities and Exchange Commission is investigating NASDAQ’s problems with reliably executing trades for investors and now the Senate Banking Committee has launched its own probe.

Technology has transformed many aspects of modern life, including how many people communicate, learn, work, and play. From distance learning to telecommuting, technology affords people increased convenience and productivity. But for persons with disabilities, technology offers much more than that—it also allows for a greater degree of independence and new ways to communicate.

The development of mobile accessibility (m-enabling) technologies has “cut the cord” on many of these life-changing benefits, allowing people to enjoy them on the move. Tools such as assistive mobile apps, handsets, web services and other cutting-edge wireless technologies provide access to numerous opportunities that were once considered unattainable for those with disabilities. These m-enabling technologies empower users in unprecedented ways, enhancing the lives of 54 million Americans who live with disabilities.

In the age of Onstar, smartphones and GPS tracking devices, we are more effective than ever at tracking people. But the line between a convenient tool and an unreasonable search has become increasingly nebulous.
 
No one wants their every move surreptitiously monitored without permission – whether it be law enforcement, a spurned partner, or a nefarious stranger keeping tabs on us. Given the legal ambiguities associated with modern technology, we must update and clarify the law.

Although the Supreme Court ruled attaching a GPS device to a person’s car without their knowledge constitutes a search under the Fourth Amendment, there are no rules governing the use of geolocation information obtained from other types of devices.

In February 2009 President Obama appointed me to chair the Recovery Accountability and Transparency Board. Our job was to prevent fraud and waste in the multi-billion dollar economic stimulus program and to establish a public website that would bring an unprecedented level of transparency to stimulus spending. Now, more than three years later, it’s clear that the Recovery Board and its oversight partners have kept fraud and waste at record lows. At the same time, Americans can easily track how their stimulus tax dollars are being spent on the Board’s website, Recovery.gov.
 
Congress now needs to consider how the lessons of the Recovery program can be applied to all of government spending. In June of 2011, Rep. Darrell Issa (R-Calif.) and Sen. Mark Warner (D-Va.) introduced bipartisan legislation entitled the Digital Accountability and Transparency Act, or DATA Act, to accomplish this goal. On April 25th the House passed the DATA Act unanimously. It is time for the Senate to move quickly to do the same.