Steve Case Talks Start-ups and Facebook IPO
After ringing the opening bell on the New York Stock Exchange today, AOL founder and Startup America chairman Steve Case spoke with Squawk on the Street about how the government can make it easier for entrepreneurs to create successful companies.
Surrounded by young entrepreneurs from several startups — including the 13-year-old CEO of Hiccup Pops — Case talked about how important it is for the White House and Congress to work together to reduce regulations so that it's easier for new companies to go public, make it easier to raise start-up capital through crowdfunding, and create an immigration policy that ensures the U.S. "is a magnet for talent."
"We need to recognize the role entrepreneurs play," he told SOTS's Jim Cramer. "In what is a more competitive world, other countries are stepping up their game. We need to double-down on entrepreneurship."
Case was also asked to comment on the Facebook IPO, which is scheduled to happen on Wednesday. He noted that 20 years ago next month AOL was the first Internet company to go public. "The baton has been passed to the next generation," he said, noting that the Internet sector has created a lot of companies and a lot of jobs.
Case was at the NYSE to celebrate the one-year anniversary of Startup America, which offers strategic guidance and resources to new business owners.