You're watching...
Forbes Media Chairman Steve Forbes offers his take on the climate for new businesses and weighs in on whether regulations have hindered business devel...
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Coming up but first to one of the -- billionaires in this country it's bank's founder Sarah Blakely making the cover of this year.
Forbes billionaires list likely is the youngest self made woman in the billionaires club with a net worth of around one billion dollars.
She was selling copiers and fax machines and started the modern day girl -- -- with just Bob grand.
And a whole lot of -- all our question is is America still the best place to start a business.
And realized a -- -- says Steve Forbes Forbes media chairman and editor in chief.
I said.
Didn't these stories make me proud to be an American Steve is this still the best place to start a business.
One of the things that's -- start ups is the fact of Heidi get an exit for the original of that venture capitalists.
And -- regulations we put in starting with sarbanes Oxley almost ten years ago.
Has really hurt that what they call the IPO market made it very difficult for a startups to get that critical capital for growth.
So if we make a few changes the rest is gonna kick -- and you gonna see more people like Sarah Blakely come along.
And one thing about Sarah acted and this combination never took outside investment is still 100% probably -- She she was able to bootstrap.
And that's a great concept I mean -- embarrassed one of -- -- we have five daughters they all our customers of Sarah.
And I asked him did they do -- -- -- and they gagged in they say you're hopeless that don't even try it -- -- best -- that it.
That actually have did they actually did you have millions banks could get an event that there -- Charlie told don't go -- the that that the benefit of but stay about looking at was looking at the list and -- -- it goes to regulation in this country and down and tax policy which I know that you talk about right about endlessly.
But the US still holds the most billionaires at 425.
So we.
Very often people talk about all the regulations have been put in place but has it really hindered business development and the last -- -- That hasn't yet that.
Lessen the desire of people like -- to what do I start ups to take a chance do big things even if you get a setbacks along the way try again.
But the key thing is to have that environment.
Where these startups can now have a chance better chance to succeed and grow to be billion dollar companies you look at the 1970s.
Before you were born.
Where it was a terrible decade economically.
But we had startups like apple Microsoft FedEx and others and one we got the right environment in the eighties those those companies took off like rocket ships.
When we compare now to the 1970 state in terms of the overall economy is that what you fair.
That's what I fear a get than the seven Asia have periods of growth followed by stagnation.
Obviously circumstances are very different today.
But you have a huge uncertainty of massive regulations coming in on health -- financial system is being really hurt.
By these regulations from Dodd-Frank especially small banks so while assuming we don't get a blow up in the Middle East this year the economy should do better than.
Far better than last year it still does not have the real push that we took for granted in the eighty's and ninety's.
But it in and driven economy even from hadn't.
Even if it's still looks fairly lackluster -- that plays to President Obama getting reelected does not how -- the Republican Canon -- -- candidate.
But there's still hope competing candidates combat that.
They come battered by a make in the point we should be doing better and I think most Americans feel it hammering things like the weak dollar.
Reforming our tax code and -- obamacare obamacare amazingly is more -- popular today than it's ever been.
And that unfortunate mr.
Romney still hasn't found his -- things on -- to be able to attack at Obama on that and sustained way.
But I hope it does in the next few weeks is this process continues that the Republicans can win even though bomb -- try to portray it that this comeback as the real deal.
It's the worst recovery since the Great Depression.
Steve as always terrific to see you to -- milk terrific ideas and you just gave us the perfect Segway.
And -- does that stance -- take care of -- C a --
