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We should crowdsource a list of all the potential reasons the United States has become less innovative. I'll start: - Weaker patent protection - No existential threat to incentivize innovation (USSR) - Falling testosterone - Social media changing incentives
- Overfinancialization of our economy (hedge funders make more money than inventors and engineers) - We've found all the good ideas already - Manufacturing has left the United States What else????
I got some outstanding answers to this question. Here they are:
- Regulations and our overactive legal system (h/t @mgirdley and @changkelong)
- Increased cost of healthcare (h/t @gsvigruha)
- increased cost of living expenses (h/t @gsvigruha & @dragosilinca)
- Increased cost of education, resulting in unbearable student debts which must be paid off before risks can be taken (@gsvigruha and @omeratah)
Conversely, what's improved since the golden era of innovation?
- Lower cost of company formation (software)
- Many dramatic examples of software successes (Mark Z) in media - Shark Tank is a celebration of entrepreneurial ideals and a recent invention - Greater acceptance of failure (i.e. Google's willingness to hire "failed" entrepreneurs) - Diversity and affirmative action programs
- Advent of accelerators (Y Combinator etc.) - Huge amounts of capital being pumped into the space from vc firms It's interesting. Lots of reasons to think that entrepreneurship should be increasing a lot.
This is anti-innovation and entrepreneurship, but has ambition become frowned upon? When I was a child I was super ambitious, but at some point I stopped talking about my ambitions, as it seemed uncool. It somehow became cool to be unambitious?
What about non-stop accusations of racism, sexism, homophobia etc. in our society? If you succeed, there's always someone else who can say "well, you're straight." or "you're white so of course..." or "men are privileged". I doubt this one, but with what plays in our media, maybe
it matters? That said, if that's going to stop you from innovating, starting a business, etc., you were never going to make it anyways.
Some super interesting graphs on who becomes an inventor from @brogram_ https://www.brunner.cl/?p=16880 pic.twitter.com/0fgydcQtux
more reasons why innovation/entrepreneurship may be falling - tyranny of the big company - aging populations (most innovations are done by young people), we're not making enough of those
-WalMart. my parents are entrepreneurs - I think large part of why I’m self employed is because i saw that behavior modeled. Walmart’s narrative is a stereotype at this point..but it did put countless thousands of small town mom and pops out of biz...
I don’t know the stats on how many children of small biz owners go on to be entrepreneurs, but i’d love to see them! it does seem potentially sig that a lot of the generation who grew up in small towns in tandem with Wally’s rise..saw that life choice modeled as a disastrous one
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