Corante

Quote
"I can’t think of anything that demonstrates the sovereign nature of the self better than a blog.” - Doc Searls
About the Author
stowegold150x150.jpg
Stowe Boyd is a well-known media subversive, and an internationally recognized authority on real-time, collaborative and social technologies. His new blog is Message.
In the Pipeline: Don't miss Derek Lowe's excellent commentary on drug discovery and the pharma industry in general at In the Pipeline

Get Real

« Mercora and LA Music Awards | Main | eBay to buy Skype? »

September 08, 2005

Hypomania: The Key Difference Between US and British Entrepreneurialism?

Email This Entry

Posted by Stowe Boyd

Back in July, I read a piece by Tom Coates, called Where are all the UK start-ups? His question is interesting, sociologically, because Americans -- who he contrasts with the Brits -- seem so prone to creating start-ups.

My main question is this: Where are all the bloody start-ups? Where are the small passionate groups of creative technologists (people with clue) getting together to build web applications and public-facing products that push things forward? Where is the Blogger or Flickr or Odeo or Six Apart of the UK? What aspect of this country is it that confounds these aspirations? And I know that Audioscrobbler is wonderful. I really love it. But eventually you have to ask - is that really all we can do?

So is it a lack of money or a poverty of ambition?

A recent ChangeThis manifesto may provide some of the answers to this question. John D. Gartner has produced The Hypomanic American that suggests that Americans are naturally inclined to the euphoric, almost manic mindset of entrepreneurialism, perhaps because the frontier has selected the foolish dreamer types of the world to congregate here.

One statistic in general from the manifesto sparked this juxtapositioning of ideas:

When asked, “Do you think that starting a new business is a respected occupation in your community?” 91 percent of Americans said yes, as compared to 28 percent of British and 8 percent of Japanese respondents.

There you have it. If only 28 percent of British think entrepreneurial activities are likely to be respectable, guess where they are going to work? At larger, more well-established (= less risky) companies.

Coates suggests there is an antipathy in Britain between engineers and business people, and that this leads to a disconnect in their dealings. Personally, I believe there is a complete mismatch between risk-averse banker-types and risk-seeking hypomanic types. The crash-and-maybe-burn-or-maybe-strike-it-rich attitude of many entrepreneurs just runs counter to the mindset of the traditional business sort.

Gartner points out that the hypomanic temperment also leads to all sorts of risky behavior -- including sexual indiscretions -- which may account in part for the attitudes of normal folks in countries that have been exporting their foolish dreamer types for centuries. Britain may have to import hypomanics, or breed them, for a surge in new business startups to occur. Maybe its time for a BBC TV series, glamorizing some team of entrepreneurs, played by very, very beautiful people?

[PS Anyone have Tom's email address? Please email to stowe -AT- corante.com]

Comments (2) + TrackBacks (0) | Category: Business


COMMENTS

1. Lars Plougmann on September 8, 2005 10:28 AM writes...

Last year, I attended an event called "Silicon Valley comes to Oxford" where a panel of Californian entrepreneurs presented and discussed with people from the business school at Oxford University and other people. A conclusion of the seminar was that the relative absence of start-ups in Britain had to do with the acceptance of failure that seems to present in the US but not the UK.
I wrote about it on my blog at the time: http://www.mindthis.net/mindthis/2004/11/silicon_valley_.html.
Lars

Permalink to Comment

2. Stowe Boyd on September 8, 2005 11:19 AM writes...

David Gartner quotes de Toucqueville in this regard, as well:

"Tocqueville noticed that Americans were entrepreneurial risk takers: “Boldness of enterprise is the foremost cause of [America’s] rapid progress, its strength and its greatness.” Though some individuals failed, the collective efforts of entrepreneurs drove the nation forward.
Americans believed so deeply in the “virtue” of “commercial temerity” that they had all but
removed the stigma surrounding financial failure:

"Commercial business is there like a vast lottery, by which a small number of men continually lose,
but the state is always the gainer ... Hence arises the strange indulgence that is shown to bankrupts in the United States; their honor does not suffer by such an accident."

At that time, a European who went bankrupt might end up in debtor’s prison, so Tocqueville
was surprised that there was little shame in bankruptcy here. The stereotypic American suc-
cess story is of an entrepreneur who fails numerous times before achieving his big success.
Such “serial entrepreneurs” will tell you that they shake off failure like a dog shakes off water
and are soon raring to go again with a new idea."

Permalink to Comment


EMAIL THIS ENTRY TO A FRIEND

Email this entry to:

Your email address:

Message (optional):




RELATED ENTRIES
Reminder -- /Message
/Message - A New Blog
The Individual Is The New Group -- Part 1
1000 Tags: Tag Advertising
Social Ethics And Technology Design
Nancy Hass on In Your Facebook.com
Black and White and Dead All Over: Is Newsprint Dead?
Anonymous Trolls, Beware: You Are Breaking Federal Laws