View " on the waterfront" 
4/17/05
ual55

5%  of the college students in the US major in science and engineering, compared to 46% in China.

The American Physical Society asserts that the US is fast losing the edge in Science to the rest of world, i.e., The US will soon use up the leading edge in Science and technology built up over the years. So what is new here ???

It is easy to see that US is training more people in the service sector than in the making, fabricating, manufacturing and the building sector. In the end those in the service sector will serve those who make and build things.

There are about $ 240 billions USD venture capital in the works in the US.  The number 1 city in the US in venture funds is the Bay Area, followed by Boston, Washington D.C. and then San Diego. The Bay Area and San Diego combined make California the number 1 state in capturing venture funds. The bio-tech venture accounts for a significant portion  of the venture capital.

It takes 4- 8 million USD to fund a venture idea initially, ~ 4 to 5 years to see the results. If successful, the rate of return is 20-25 %  per year, high profit, high risk.

Some of the funding for VC funds comes from college retirement funds, that fact causes  sleepless nights for some of us.

17% of the all the jobs in the US originated from VC, those who work in these companies capture 24% of the salary, meaning they are paid well.

It is easy to see that those who are employed by the companies funded by VC are likely to have   science and engineering background and they are better paid. Why then the kids theses days do not major in these areas ? Because it is hard work, and the illusion of being paid well in other sectors clouds the young mind;  just like every kid who  shoots baskets at the street corner dreams of being to be Jordan. Nothing wrong with that, after all it is the dreams that keep us going.

It is , therefore, sad to conclude that science/engr majors are not dreamers. What keeps them going ?

They are only curious to uncover and discover  the secrets of the universe. They are the only people who know if hell is burning hot or freezing cold. It is predictable by thermodynamics.