I'm aware that you write in the beginning that culture is not the main or the only factor in this difference between the US and Europe.
Do you believe that cultural changes are a prerequisite in Europe for venture to succeed big or can we do it top-down through socio-economic incentives?
I think they can be backwards engineered from the top down, but mostly by getting the incentives right. The most destructive force is when regulators and policymakers make decisions--I was one, and I know I didn't have the right incentives to make good decisions.
Love this take Owen!
I'm aware that you write in the beginning that culture is not the main or the only factor in this difference between the US and Europe.
Do you believe that cultural changes are a prerequisite in Europe for venture to succeed big or can we do it top-down through socio-economic incentives?
I think they can be backwards engineered from the top down, but mostly by getting the incentives right. The most destructive force is when regulators and policymakers make decisions--I was one, and I know I didn't have the right incentives to make good decisions.