from the dhs-confirms-it-must-be-true dept.
dreamstateseven writes "In a not-so-unexpected move, the Department of Homeland Security has concluded that travelers along the nation's borders may have their electronics seized and the contents of those devices examined for any reason whatsoever — all in the name of national security. According to legal precedent, the Fourth Amendment — the right to be free from unreasonable searches and seizures — does not apply along the border. The memo highlights the friction between today's reality that electronic devices have become virtual extensions of ourselves housing everything from e-mail to instant-message chats to photos and our papers and effects — juxtaposed against the government's stated quest for national security. By the way, the government contends the Fourth-Amendment-Free Zone stretches 100 miles inland from the nation's actual border."
from the holding-the-wealth dept.
Hugh Pickens writes "With the 'fiscal cliff' just weeks away, Chris O'Brien writes that venture capital fundraising in silicon valley is down, the amount invested is down, the number of folks investing in venture capital is down, and the number of VC firms and partners are down. 'The people I talked to in the industry sounded grim even as they tried to make the case for optimism,' writes O'Brien. 'Still, it remains difficult to identify a clear path for turning things around for the battered venture capitalists who make Silicon Valley hum.' So what's wrong with the VC industry? The problems are many and complex but they can be boiled down to one thing: Not enough exits. For the size of venture capital being raised and invested, there simply aren't enough initial public offerings of stock or mergers and acquisitions to generate the returns that funds need. Venture insiders blame the global economic uncertainty. They believe that is part of the reason that giant corporations, which have amassed huge piles of cash, are just sitting on it, rather then using it to acquire startups. 'The numbers are way down,' said Ray Rothrock, a partner at Venrock. 'All these companies with these fantastic balance sheets, and nobody is really buying anything. With all the uncertainty they're facing with the economy and taxes, buying little companies is way down on their list.'"