In the Valley, what's happened is you have entrepreneurs that just want to fill a hole in the market and have a rich exit.
Sentiment: NEGATIVE
There's a new generation of entrepreneurs in the Valley who have arrived since 2000, after the dotcom bust. They're completely fearless.
Over a 10-year period, 99 out of 100 new entrepreneurs will fail. Only one will be left standing as others get pushed out of the market or burn out from working so hard. It's really sad.
There is a huge amount of wealth that's generated here in Silicon Valley.
You know where entrepreneurship in my opinion has to go? Into the inner city.
Entrepreneurs are misfits to the core. They forge ahead, making their own path and always, always, question the status quo.
Very few entrepreneurs start their business on the back of market research. Instead, they have tremendous zeitgeist, honed by paying attention to where they are.
In Silicon Valley, I point out that many of the more successful entrepreneurs seem to be suffering from a mild form of Asperger's where it's like you're missing the imitation, socialization gene.
In America, the problems of poverty and low income, particularly for minorities, are disproportionately focused in the inner cities. Shining a spotlight on the businesses growing in these communities is proof that any community has the potential for entrepreneurship.
In the end, I think that people that are not willing to take the risk to fail are not true entrepreneurs.
You have to live in Silicon Valley and hear the horror stories. You go and hang out at the cafes, and you meet entrepreneur after entrepreneur who's struggling, basically - who's had a visa problem who wants to start a company, but they can't start companies.