3 ms·

Not technical and the "creating new products or services that have changed the world" is hugely debatable, but how about Amancio Ortega[0]? A spaniard, son of

by loopbit 10y ago

Not technical and the "creating new products or services that have changed the world" is hugely debatable, but how about Amancio Ortega[0]? A spaniard, son of a railroad worker. Started working as a shop hand at age 14 and it's now, at least according to Forbes[1], the richest man in Europe and the wealthiest retailer in the world. You can't be more self-made than that. On the other hand, some of the people you mention were already well-off to begin with, even if not really rich. Once said that, I agree with you at some level: The mindset in Europe is (or was, maybe it's changing?) different from the US and, generally speaking, more risk-averse. Also, the feeling among most of the european entrepreneurs I've met is that the US is the place to go if you really want to succeed: Funding, market fit, know-how... all that is perceived to be better/easier to get in the US. Anyway, just my 2 cents and my very personal, very subjective, anecdote-based perception of it. [0] https://en.wikipedia.org/wiki/Amancio_Ortega https://en.wikipedia.org/wiki/Amancio_Ortega [1] http://www.forbes.com/profile/amancio-ortega http://www.forbes.com/profile/amancio-ortega

deleted 10y ago
[deleted]
cs702 10y ago
I agree: Amancio Ortega is self-made and his accomplishments are incredible, but like you, I don't see Zara as a "world-changing" product or service. By the way, I realize that "world-changing" is a rather imprecise moniker, but I still find it useful: no one would deny that the iPhone and Google, for example, were new world-changing products. I also agree with your perception that the mindset in Europe is (or was?) different from the US and, generally speaking, more risk-averse. I don't think this is unrelated to the greater prevalence of inherited wealth.
- dilemma 10y ago
  The apparel industry provides one of three basic needs. The two others are food and shelter. A company that goes beyond providing bare necessities to also make products that fulfill psychological and social functions by offering different types of aesthetics that can be used for signaling, for everyone almost regardless of class and income, is providing a very valuable service. A company like Zara faces similar challenges in regards to distribution as does Amazon. But it also does more, it designs and produces the products it sells, something that Amazon is completely incapable of doing. Furthermore, they own and operate something like 30-50% of the production capacity they need. These are hard problems that very few companies are able to understand and solve.

by loopbit 10y ago

deleted 10y ago

[deleted]

cs702 10y ago

I agree: Amancio Ortega is self-made and his accomplishments are incredible, but like you, I don't see Zara as a "world-changing" product or service. By the way, I realize that "world-changing" is a rather imprecise moniker, but I still find it useful: no one would deny that the iPhone and Google, for example, were new world-changing products. I also agree with your perception that the mindset in Europe is (or was?) different from the US and, generally speaking, more risk-averse. I don't think this is unrelated to the greater prevalence of inherited wealth.

dilemma 10y ago
The apparel industry provides one of three basic needs. The two others are food and shelter. A company that goes beyond providing bare necessities to also make products that fulfill psychological and social functions by offering different types of aesthetics that can be used for signaling, for everyone almost regardless of class and income, is providing a very valuable service. A company like Zara faces similar challenges in regards to distribution as does Amazon. But it also does more, it designs and produces the products it sells, something that Amazon is completely incapable of doing. Furthermore, they own and operate something like 30-50% of the production capacity they need. These are hard problems that very few companies are able to understand and solve.