For graduating students at Stanford University, it’s all too clear that the economy’s in the tank. The venture capital industry, with its epicenter just down the road, is stalled. The unemployment rate in Santa Clara County has doubled in the past year, to 10.9%, as employers across techdom eliminate jobs and scale back expansion plans.
Career fairs, students say, feature lots of recruiters handing out business cards, but few jobs. A host of seniors who in past years would have waltzed into six-figure jobs at tech companies, banks, and consulting firms must now explore other options. For those eager to cash in that Stanford diploma for a big payday, prospects are grim.
But if the goal is less making money than doing good, opportunity abounds. Ask Josh Nesbit. The lean 22-year-old graduating senior spent spring break in Uganda and Mozambique, where his startup, Frontline SMS:Medic, is putting in place communications systems aimed at promoting health in rural areas.