> I like the thrust of your argument, but from my perspective in Singapore/Asia, that's not quite what I see...The US-educated scions of well-connected families

> I like the thrust of your argument, but from my perspective in Singapore/Asia, that's not quite what I see...The US-educated scions of well-connected families are especially responsible for techologising their behemoth family businesses and launching modern apps. This is exactly correct. The GP's post reminded me of The Coming Transformation, a report by VC firm Formation 8: http://formation8.com/resources/the-coming-transformation/ http://formation8.com/resources/the-coming-transformation/ The report draws a similar comparison between the decline of the landed aristocracy during the Second Industrial Revolution and the coming decline of the industrial aristocracy due to "software eating the world." However, Formation 8 is taking advantage of this opportunity: one of their partners is the scion of a Korean conglomerate, and he's no doubt leveraging his family ties to obtain buy-in from many other HNW families from all over Asia: http://www.bloombergview.com/articles/2015-03-05/why-formation-8-loves-the-startup-game-in-asia-and-silicon-valley http://www.bloombergview.com/articles/2015-03-05/why-formati... http://www.bloomberg.com/news/articles/2015-06-25/sun-yat-sen-s-grandson-said-to-join-lg-scion-in-new-asia-vc-fund http://www.bloomberg.com/news/articles/2015-06-25/sun-yat-se...