Why Silicon Valley will never succeed

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Halfway tongue-in-cheek comparison of Silicon Valley and Estonia startup ecosystems

Halfway tongue-in-cheek comparison of Silicon Valley and Estonia startup ecosystems

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  • 1. Image credit: Benjamin Joffe
  • 2. This is all true, BUT...● The reason Singapore emerged was not due to its low marks in preceding slide● It was due to factors NOT MENTIONED above● If you only use criteria where US excels at, clearly all other places will get low marks because nothing is as similar to US as US itself● So lets use Estonia as reference point, and pretend we dont know the Valley is successful
  • 3. Why Silicon Valley will never succeed● No widespread digital signing of documents; in Estonia you need just Internet and 60 seconds to sign a legally binding multiparty document. In US, you actually need to scan or fax papers...● Seed, Series A etc legal costs 10x higher – hard to see why any investors would want to operate in the Valley at all● Some Americans still use checks to transfer money – what a technologically backward country! In Estonia EVERYONE uses internet banking, incl grandmothers
  • 4. Wait, theres more...● The US is not used to disruption – e.g. no major political change in the last 300 years. Estonia has had no stability to get used to● Little international cooperation: Americans speak just one language – hard to build any globally appealing stuff there
  • 5. So IF anything major emerges in Estonia inthe next 30 years, it is because of someoverlooked advantages. Right now, nobodycan even predict what these would be. Noteven Estonians themselves can.