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Taking Risk

tomblomfield.com

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11–20 of 304 posts

Re: Taking Risk

#11

Post by yobbo »

osullivj wrote: post #2

US has more hi wealth families that can support startup kids, like Gates, making learning by failure more practical.

Not only this, but failure has consequences socially and professionally.

Startup founders are seen a little bit like fortune seekers ("gold diggers") in that they seek fortune without "having to work". Of course it depends on details and context and so on.

Failed startup founders are seen like bankrupt gamblers, unless they were previously wealthy and could afford to absorb the losses.

Re: Taking Risk

#12

Post by red_admiral »

colesantiago wrote: post #6

The UK isn't really known for being an ambitious nation when it comes to the startup ecosystem. For jobs, unless you're working in finance in London, for tech salaries (except for FAANG) it is simply no surprise that it is so low on average [0] that isn't even worth it. What is more damning is that I saw an internship in the US earn more than a job posting of Head of Cyber Security at the HM Treasury which is $50-57K…

> The UK isn't really known for being an ambitious nation.

Industrial revolution? Railways? An empire on which the sun never sets? (Ollivander voice: "evil, yes, but ambitious").

Sure, things have gone downhill since then.

Re: Taking Risk

#13

Post by hnhg »

DeathArrow wrote: post #8
colesantiago wrote: post #6

The UK isn't really known for being an ambitious nation when it comes to the startup ecosystem. For jobs, unless you're working in finance in London, for tech salaries (except for FAANG) it is simply no surprise that it is so low on average [0] that isn't even worth it. What is more damning is that I saw an internship in the US earn more than a job posting of Head of Cyber Security at the HM Treasury which is $50-57K…

>The UK isn't really known for being an ambitious nation. They've ruled the seas and half of the earth for centuries. They've ruled commerce and industry for centuries. Isn't that a proof of ambitions?

Why did you forget the rest of the sentence, "when it comes to the startup ecosystem?"

Re: Taking Risk

#14

Post by colesantiago »

DeathArrow wrote: post #8
colesantiago wrote: post #6

The UK isn't really known for being an ambitious nation when it comes to the startup ecosystem. For jobs, unless you're working in finance in London, for tech salaries (except for FAANG) it is simply no surprise that it is so low on average [0] that isn't even worth it. What is more damning is that I saw an internship in the US earn more than a job posting of Head of Cyber Security at the HM Treasury which is $50-57K…

>The UK isn't really known for being an ambitious nation. They've ruled the seas and half of the earth for centuries. They've ruled commerce and industry for centuries. Isn't that a proof of ambitions?

Not when it comes to startups, besides the UK keeps going on about what they have done in the past.

So, why hasn't this translated to trillion dollar companies in the UK?

Re: Taking Risk

#15

Post by DeathArrow »

It would be more interesting to not consider just US and UK, but the whole world.

Lots of new startups might come from Asia. Eastern European startup scene is interesting, also.

Re: Taking Risk

#17

Post by red_admiral »

There's the risk aspect and the regulation aspect. Personally I think there's something to be said for a country where your car can't collect data on your trade union membership and sex life and pass it on to your insurers. (The UK is no longer in the EU so it's not technically subject to GDPR anymore, but they "forked" that law when they left and it's now called the Data Protection Act (DPA).

Re: Taking Risk

#18

Post by davedx »

artemonster wrote: post #5

I think the article also avoided a huge topic about risk averse companies that are your customers, if you are b2b. In US, if you are a young startup, and your solution can save huge amounts of money, you will get your chance to make your pitch to "big guns", as their incentive structures allow them to take risks and reward them, i.e. "here is % of these millions you saved integrating this new solution". In Europe the…

> In Europe the old rusty impotent gray-haired managers wont even listen to you, even if you offer them a goddamn magic bean or a money printer machine. And why would they? They risk a lot and gain almost nothing, as there are no reward structures that incentivize risk in any shape or form.

I don't know if this is true or complete hyperbole? (I'm from the UK and live in the Netherlands; I've pitched several businesses and startups to European "impotent managers"). It's true that enterprise sales is hard, and some business cultures are definitely trickier than others (Germany!), but there are plenty of thriving B2B startups in Europe.

Re: Taking Risk

#19

Post by lordnacho »

hnhg wrote: post #13
DeathArrow wrote: post #8

Earlier quoted context omitted.

>The UK isn't really known for being an ambitious nation. They've ruled the seas and half of the earth for centuries. They've ruled commerce and industry for centuries. Isn't that a proof of ambitions?

Why did you forget the rest of the sentence, "when it comes to the startup ecosystem?"

East India Company was a startup, too

Re: Taking Risk

#20

Post by davedx »

osullivj wrote: post #2

US has more hi wealth families that can support startup kids, like Gates, making learning by failure more practical.

Citation needed? The UK certainly has plenty of upper-middle class families. This is nothing to do with family wealth and everything to do with business culture.
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