You’ll be pleased to hear that Larry Summers is now bringing his crowd-pleasing song-and-dance routine to the Valley.
Summers, a former U.S. Treasury Secretary and more recently the chief economic advisor to President Barack Obama, is joining Silicon Valley venture-capital firm Andreessen Horowitz as a special advisor. Under a part-time and exclusive arrangement with the firm, Summers will work with venture capitalists Marc Andreessen and Ben Horowitz and their partners, as well as with their start-ups, to advise them on global markets and on economic thinking.
Yes, the man who delivered all that job-creating growth at President Obama’s side will now bring his golden touch to the startup world. I can’t wait to see what kind of hilarious hijinx he gets into out there!
The irony of course is that just two months ago Summers gave a speech in which he referred to technology stocks as a bubble. It was my “Bullish Item of the Day” when I saw it back in May.
So technology stocks are a bubble but venture capital valuations are a-ok. Well, Larry does know a thing about bubbles…