Venkatesh has a pretty bleak (realistic?) outlook on the global economy, and he is suggesting that everyone who is able should invest in a quality software developer.

Investing in good developers is such a good bet at the moment, that if you have money and you happen to find a talented developer who seems to like you and wants to work with you, you should give him/her your money to build something, anything, even if you have no really good product ideas (those are cheap; I’ll sell you a dozen for a dollar). If you don’t have money, you should offer up whatever other kind of surplus you do have. The NPV on a strong and positive relationship with a talented developer today is ridiculously high. If you gain the trust of a talented developer to the point that they are likely to drop any active gig in the future in favor of joining one of your projects, the value is through the roof. The world is your oyster, which you with your developer will open.

Every company needs software. Many companies are turning into software companies. The software industry (including the Web development industry) totally bucked the economic downturn and continued to boom as an industry. It’s a good career to be in at the moment, if you’re good. Quality iOS developers are particularly hot at the moment.

If you are a business owner, start shifting your spending toward software development. Get the best developers (including designers and strategists) on board, and do what it takes to keep them if you want to weather the coming economic storm. (Alongside your gold, guns, and bullets.)

And yes, of course I, a developer, would post this. I wonder if Venkatesh is a developer as well. It’s an interesting take on the current situation, and makes sense to me (though I may be biased). I’m interested in your thoughts.

While we don’t have an Orange crystal ball, we do expect the economy to remain fragile through 2009. The best course of action for our Customers is to be disciplined: avoid splurging; identify and cut out unnecessary expenses and save for what’s essential; and hedge against those tough times. We can all benefit by developing good spending habits: confront – and cut up – credit cards; use your home as a savings vehicle – not as an ATM; and establish and contribute regularly to an IRA or 401(k).

WOW.

• Be disciplined
• don’t splurge
• cut unnecessary expenses
• save for essentials
• CUT UP CREDIT CARDS
• contribute regularly to IRA

They aren’t trying to convince me to get a home equity loan. They aren’t trying to sell me a credit card. They are encouraging me to get out of debt, only buy essentials, and pay with cash. I might have to consider switching all of my accounts over here.