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DLA PiPer TechNOLOGY LeADersFOrecAsT surveY–FALL 2012
 
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| DLA Piper Technology Leaders Forecast Survey – Q1 2012
DLA PiPer TechNOLOGY LeADersFOrecAsT surveY–q1 2012
execuTive summArY
In the ace o global economic headwinds and amid ahigh-stakes 2012 presidential election, technology leaders – ever ocused on the promise o the uture – are
seeking clarity 
on the economic, regulatory andpolitical landscape.This was the pervasive theme throughout DLA Piper’sith Technology Leaders Forecast survey, which wasdeveloped in conjunction with the irm’s 2012 GlobalTechnology Leaders Summit. Will greater economic certainty ollow the outcome o November’s election? What is the direction o tax policy? Will the next administration ease regulations – or increase the regulatory burden? How will China’s role in technology development and nancing evolve? Will the IPO marketcool down or heat up? What are the most promising andchallenging areas or the technology economy?These are just a sampling o the issues addressed inDLA Piper’s latest survey o the major trends, challengesand opportunities conronting the technology industry.By a 3 to 1 margin technology leaders believePresident Obama will be re-elected on Nov. 6th.However, most are very skeptical that another term under his administration would be a positive development or  the industry.In act, hal o technology leaders who think PresidentObama will earn re-election think it would be a negativedevelopment or the sector. Most – 64 percent – believe that Mitt Romney’s election would be better or the technology industry. This stands in stark contrast to the2008 survey when the majority (60 percent) o  technology executives signaled that a Barack Obamavictory would be a positive development or the technology industry.These executives and investors, however, have more on their minds than just politics. There are underlyingconcerns about global economic conditions – and theadded burden o growing regulation that hinder their ability to access capital and build new businesses.Economic uncertainty was listed as the most signiicantbarrier acing the IPO market and was a signiicant actor in impeding the success and ormation o technology start-ups.Despite these challenges, technology leaders’expectations or growth are cautiously optimistic, withmost expecting moderate sales and hiring growth. Mostsubscribe to a belie in a “new normal” or growth – steady, but slow.Key highlights o the survey include:
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 Wat wold a ond-t Pdnt Obaaan fo t t ndty?
Most respondents think voters will re-elect President Obama, but60 percent doubt that his policies will impact the technology industry in a positive way.Sixty-our percent o respondents think Mitt Romney would positively impact the technology sector, while just 41 percent o respondents think a second-termPresident Obama would positively impact it.
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i pat ty dtnd fo oglaton?
A strong majority (78 percent) o respondents think the 2012 political debate has hurt the reputation o the private equity industry, andmost (65 percent) think it likely will result in moreregulation o the industry.
 
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 Wold fdal ta na t tntnt and al?
A majority (60 percent) o respondents think the expiration o the Bush-era taxcuts will hurt investments in the technology industry;
 
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while very ew (seven percent) think it will help.However, perhaps counter to conventional wisdom, asigniicant minority (33 percent) think the Bush-era taxcuts will have no direct impact on investments andgrowth in the technology industry.
 
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 Wat  t otloo on ng and al?
Techexecutives still think their companies will experiencesales growth and plan to hire new employees during the next 12 months, albeit at a moderate ratecompared to historical growth. Bigger technology companies are even more conservative in estimationso both their sales and hiring.
 
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 Wat a t ot pong oppotntfo t ntpn and nto?
Respondents pegged mobile computing, cloudcomputing and big data as the most promising technologies or investors and entrepreneurs. Venturecapital executives were more likely than other techexecutives to rank “big data” as promising – and tended to rank gaming as less promising.
 
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sold pay pol b glatd?
More than80 percent o technology executives say thegovernment should not get involved in regulatingprivacy policies, with 50 percent saying the industry should take the lead in developing consensus andpolicies on privacy.
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can cna tanton to an nnoatononoy and pat t global tnologyto?
Most respondents observed that China is transitioning away rom a production-only economy  towards an economy oriented towards both theproduction and consumption o goods, including technology. However, there are continued mixedsignals regarding the country’s ability to evolve into ahub or innovation and technology development. Only 10 percent o respondents expect China to be a major contributor to technology development within thenext three years.
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