Where Have All The Cowboys Gone?

Recently, this blog entry has spurned an interesting and provocative discussion among our readers. Our resident contributor, the mysterious Cobalt Paladin has penned a beautiful piece to rebutt against various points of contention about why Singapore should stop comparing itself to other renowned technology clusters.

Why is Singapore being continuously highlighted in western media? Do we need to keep comparing ourselves with Silicon Valley? Silicon Valley has 50 years of history and that’s even longer than our nation’s history since independence! Silicon Valley is a unique place where the technopreneurs from all parts of US congregates. Singapore? If we congregate, we will be fortuanate if we can even occupy Toa Payoh!

Oh by the way, do you get a feeling that western countries, especially US academics, politicians, reporters etc like to take pot-shots at Singapore? Maybe the “liberal” and “democratic” Western countries can’t stand to see a Eastern/Asian country like us succeed even though we are a “repressed”, “controlled” and “socialistic” country? :p

I think it is not fair to compare Singapore’s number of entrepreneurs as compared to big countries like USA, China, India or any other large country. If a country only has 0.1% of the population who will become successful entrepreneurs, Singapore would have only about 4,300 (big and small) of them whereas USA would have 299,000 of them! Of course, by numbers alone, USA and Silicon Valley would be perceived to produce more entreprenuers!

It has been said that we don’t seem to be producing enough entrepreneurs.

Actually, I beg to differ. Maybe because I’m an entrepreneur but I seem to notice that I’m surrounded by entrepreneurs in Singapore. I guess it is a matter of perspective. When I started out, I find it easier to talk to other entrepreneurs about what I’m going through. They are more understanding and are willing to share their experiences with me. When I converse with non-entrepreneurs, I realise I may not be able to talk with some of my friends. They usually express shock and would disuade (out of concern) me of taking the risky path. Some just plainly don’t want to see me succeed and make disparaging remarks. After a while, I just learn to keep quiet and just say that I’m working in a company (conveniently leaving out that it is my company :p).

I’m not embarrassed about what I’m doing or anything, I just find that it is not necessary to mention that I’m trying to setup my own business. I don’t want to be treated like a rare panda on display. Sometimes, it is weird that everyone’s attention begin to turn on you. Maybe that’s why entrepreneurs may seem even lesser because we don’t usually go around declaring we are. Maybe it is just our innate Asian culture, we don’t usually go round blaring our own trumpets.

Anyway, everywhere in the world, it is normal that entrepreneurs form only a small group of the population.

It is just the way it is.

I do believe that Singapore culture has changed and this has been brought forth by the dot com boom/burst cycle. During the boom, there were so many new startups. It is true that not many survived but that cycle has kick-started the entrepreneur culture and it is in motion, you just need to know where to look.

True entreprenuers will be entrepreneurs regardless the environment and condition so stop wanting the government to do more. At least we have good infrastructure and stable polictical climate. The rest is up to us.

Regarding why there seems to be lesser VCs willing to invest in Singapore startups. I feel it is a catch-22, chicken-and-egg situation. It takes two hands to clap. In order for VCs to have confidence in investing in local startups, we’ll need to have more successful cases. We’ll need to show and prove to them local startups can do it first before they dare to risk.

Guess we happen to be the pioneer batch who will pave the way for future generation of entrepreneurs.

It is also said that we don’t have many entrepreneurs because Singaporeans are preceived to be leading too comfortable a life and the sense of security a stable job provides have made us risk-adverse.

I guess it is common that in all cultures (not just Singapore), people are too comfortable in their life and revel in the security of having a job. I think it is also inherently just human nature not to take risk. If not, why would the super-thin book like “Who moved my cheese?” become such a hit?! And that includes country like USA which was supposed to have a strong entrepreneurial culture!

The future is in our hands, it is really up to us cowboys to tame the Wild Wild West. Erm, I meant the World Wide Web.

The content of this entry is a discussion of an article highlighted at Sgentrepreneurs. I’ve consolidated and rearranged the comments I’ve made to make this into a comprehensible entry. It is something that I’ve felt but finally able to vocalise my thoughts.

Editor’s Note: This piece is published with the same title in Cobalt Paladin’s blog.

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