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In the past few years, a number of venture capitalists have been succumbing to the same siren song of cheap labor that has seduced U.S. corporations into moving operations overseas. (See E-Letter No. 40 for more on this.) For them, the new place to invest???the new Silicon Valley???is to be found in places such as Bangalore, India, where scores of new companies have sprung up to take over the work
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