How the Gov't Shutdown Impacts the Tech Industry

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Oct. 3 (Bloomberg) -- Silicon Valley Leadership Group President and CEO Carl Guardino discusses the impact of the U.S. government shutdown on tech. He speaks on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

Washington, d.c. this time.

Could you find any congressional hearings willing to talk to you today given what is going on with the government shutdown?

Here's the great news.

The 40 ceos and senior officers who joined us on this particular trip on immigration reform and tax reform, the two biggest issues impacting long-term innovation in the economy and our nation, found not only congress ready to meet with us, but ironically shorter lines to get into their offices.

We met face-to-face with 70 targeted members of the house of representatives on immigration reform and also the meetings were kept and quite successful.

Most of those, by the way, were with republicans that we think will be amenable to a meaningful immigration reform.

With the government shutdown, what is the viewpoint of the ceos regarding the government shutdown and what do they tell the congressman when they have them in front of them?

Each meeting, of course, we address the obvious, which is the reality that our government is in this shutdown and we need to work through that as quickly as we can.

We especially need to avoid the debt limit issue and make sure that we don't, in any way, go in the direction of not meeting our debt obligations.

That would impact all of our companies in america.


How will the debt limit or the debt ceiling not being extended affect silicon valley companies?

What are ceo's saying?

What they are saying is clear.

Businesses don't operate well in uncertainty.

And the uncertainty of a fiscal crisis in our nation will impact every business.

It will impact the markets.

It will impact consumer confidence, which is 70% of spending in the united states.

And that will hurt all of us.

So please, do not go there.

In terms of answering your first question, when we went into each of the 70 meetings, again, you have to state the current affair what they are dealing with in terms of the government shut down.

And we just impressed upon them again, in a nonpartisan way, resolve this.

We need you to act as the leaders that we have elected, whether you are a house or senate republican or democrat, whether you are with the administration and will resolve this for the american people.

Our companies are global and the reactions in the other countries is a head scratch of how we could even get to this place here . so let's resolve it.

We feel often that congress made up of very fine people need a marriage counselor so they can work together.

So we can get big innovation policy issues.

By futzing around with the debt ceiling limit and the health care act and the shut down, they are pushing aside those important things like immigration reform.

But i wonder in what ways is this shutdown hitting technology.

There is a number of ways that the shutdown is impacting innovation economy.

One right now, as you know, skilled workers means the processing of visas for talented workers who were not lest to be born in our country.

The labor department being closed down means that these people are not being processed.

The ipo process, if the sec isn't operating and is shutdown, that can be impactful to ipos going forward.

The u.s. pto right now isn't

This text has been automatically generated. It may not be 100% accurate.


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