Friday Tech Links: Philly handling recession, First Round Capital frequents New York and more

First Round Capital's Josh Kopelman is interviewed by Sammantha Ettus and Gary Vaynerchuk of ObsessedTV

In which we link out to the tech news from Philly and elsewhere (when it matters) that slips through the cracks and make it way fun. See others here.

When it comes to ultimate economy metaphors, it’s time for car talk.

Philadelphia is only experiencing a tank of bad gasoline, not a shot transmission, Inquirer Business Reporter Mike Armstrong said Wednesday.

Of course, we only kid. It’s good news for Philly, which ranked 37th strongest of 100 major U.S. metros in a quarterly economic health report issued by the Brookings Institution.

Hell, times ain’t rough for Delaware-based online advertiser eZanga. Fortune Magazine ranked it as one of the 15 fastest-growing marketing and advertising companies in the U.S., despite Internet advertising taking its first downturn since 2002 in the first quarter, reports Delaware Online.

But do you know the problem with too much good news? Not enough drama.

After the jump, how First Round Capital is ditching Philly for our lesser-neighbor up North, why social networking and work don’t mix, and gosh darnit, more proof that no one can fix that Philly budget deficit. Plus more goodies.

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Ben Franklin Technology Partners threatened by 60 percent budget cut

In a restricted budget season, you have to make your case for survival.

Pennsylvania’s Ben Franklin Technology Partners program has earned the state $3.50 for every $1 invested, according to an independent study by the Pennsylvania Economy League for the years between 2002 and 2006, as cited in a Morning Call Op-ed.

In 25 years, the program’s Southeastern Pennsylvania branch — based at the Naval Yard in South Philadelphia – has provided more than $130 million to grow more than 1,600 regional enterprises, but still, lingering in the state Senate is a bill that would cut 60 percent of the body that funds the statewide BFTP program.

“This is an extremely challenging year for the state budget, and difficult decisions must be made,” wrote R. Chadwick Paul Jr., the president and CEO of the Northeastern Pa. arm of BFTP, in the Op-ed in the Call. “But decreasing funding for Ben Franklin would reduce Pennsylvania job creation and job retention, and result in a net revenue loss for the commonwealth.”

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Solve the Philadelphia budget crisis online

Somebody please figure out this city’s budget shortfall so we can go back to prospering.

It can be Mayor Michael Nutter or city council or, Hell, maybe Larry West.

Maybe you can figure it out with a new, very cool online toy from the Economy League of Greater Philadelphia, the research and analysis nonprofit based on the Avenue of the Arts.

At EconomyLeague.com/Budget, users get a snapshot of the budget battle, by having to close a $200 million hole with 15 options.

“Through the Philadelphia Budget Challenge as well as the Mayor’s budget forums in February, citizens are getting a look behind the curtain at the real trade-offs city managers have to make,” said Allison Kelsey, a spokeswoman for the Economy League. “It makes for better-informed constituents and voters who can then be better advocates for themselves, their neighborhoods and their city.”

See what went into the project, read how I fared and share your own choices below.

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Study: Ben Franklin Technology Partners funding creates more tech jobs that pay better

Local technology entrepreneurs should give serious thought to dialing up Pennsylvania’s Ben Franklin Technology Partners. According to a study released Thursday, early-stage tech companies funded by the network from 2002 through 2006 generated 5 more jobs each year and paid 33 percent better than similar companies who were not funded.

Given common job market fluctuation, the study also factored the duration of jobs created and concluded that 10,165 job years were generated over that time. That’s 10 job millenia, if we’re doing our math correctly. On average, funded companies paid $54,509 per year, while non-funded companies paid a meager $41,019.

Technology Partners is filling a void. Nationally, the total percentage of venture capital being distributed to startup and early-stage companies has remained relatively stagnant at approximately 20 percent since 2002. BFTP’s funding network has invested in 500 companies and institutions in Pennsylvania between 2002 and 2006, and the majority of funds went directly to entrepreneurs, and early-stage and established companies. [Pennsylvania Economy League via Philadelphia Business Journal]