So, working theory: businesses reflect the capital structure of their ecosystems (like how animals evolve to fit their environments), and judging an ecosystem for not having enough startups is a bit like saying there aren’t enough polar bears in a tropical rainforest.
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Capital structures *and culture*
I read somewhere probably from daniel gross that California with the sunny optimism tends to create the social media startups we are familiar with
Whereas survival mode Israel tends to create startups heavy in security and defense
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Good point — they probably emerged together. (Though, interesting question: which comes first: the capital structure or the culture? 🧐)
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3 possibilities:
1. Culture and capital structure can also co-create
2. Culture first
3. Capital Structure first
I see all 3 as possible and not too concerned which comes first