Vinod Dham on outsourcing

Vinod Dham, the father of Intel's famed Pentium microprocessor, once again is making news in Silicon Valley.

This month, Dham, now a venture capitalist, closed on $189 million in funding for his newest venture capital fund, the NEA IndoUS Ventures fund. The fund focuses on India-based businesses and is a partner with the New Enterprise Associates venture firm in Menlo Park.

Dham believes that the number of jobs destroyed by the advance of technology through creations such as the Pentium is far greater than the number of U.S. jobs destroyed through outsourcing. He also believes that outsourcing is helping create a middle class in India that is consuming American products. In that sense, the rising wealth of India could lift all boats, Dham said.

Remember the backlash we faced in India when technology destroyed so many jobs earlier? We patiently withstood that and adopted it in a big way. Now when it shows its flip side, hell can't break loose. Shut up, Lou Dobbs and thank you Dham - for that darn straight insight…

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