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It is a caricature and not exactly how we act in Norway. I work in the Norwegian tech sector and don't really see this as the problem. The problem is more abou

It is a caricature and not exactly how we act in Norway. I work in the Norwegian tech sector and don't really see this as the problem. The problem is more about getting investors to novel ideas. It is much easier to get investors to back crazy ideas in the US than in Norway. Other than that I think Norway has many strengths. It has an efficient government where it is easy and quick to start a company. Unlike the US starting a company is low risk because you got covered with public health care regardless. You got good unemployment benefits you can use for a year while getting your company up and running. I honestly never felt there was a shirtage of ideas and talent in Norway. The problem is on the business side of things. We are poor at marketing ourselves and think in terms of how to profit from innovations. But it is in no way impossibe to make it in Norway. Most of our billionaires are self made. In fact we have more billionaires prr capita than the US and more social mobility.

vonnik 9y ago
I totally buy that Norway has many strengths, and like I said, I was really impressed with the entrepreneurs I met there. I think the problem with cultivating a tech ecosystem in many first-world cities is the lack of capital channeled through sophisticated investors who can deploy it in tech. That's one factor behind Silicon Valley's continued gravity for international entrepreneurs -- they keep running into the funding gaps in their homelands. Sadly, the Trump administration seems to be making it harder for international talent and international capital to meet in the US. I lived in Europe for many years, and saw a lot of capital that just wanted a safe real estate bet. > Most of our billionaires are self made. In fact we have more billionaires per capita than the US and more social mobility. Sure. But Norway is a country with enormous oil reserves, like the Gulf Emirates. That's basically luck. The question is: How can you build an economy with less/zero dependence on arbitrary allocations of natural resources, especially given that the price of energy is trending toward zero?

vonnik 9y ago

I totally buy that Norway has many strengths, and like I said, I was really impressed with the entrepreneurs I met there. I think the problem with cultivating a tech ecosystem in many first-world cities is the lack of capital channeled through sophisticated investors who can deploy it in tech. That's one factor behind Silicon Valley's continued gravity for international entrepreneurs -- they keep running into the funding gaps in their homelands. Sadly, the Trump administration seems to be making it harder for international talent and international capital to meet in the US. I lived in Europe for many years, and saw a lot of capital that just wanted a safe real estate bet. > Most of our billionaires are self made. In fact we have more billionaires per capita than the US and more social mobility. Sure. But Norway is a country with enormous oil reserves, like the Gulf Emirates. That's basically luck. The question is: How can you build an economy with less/zero dependence on arbitrary allocations of natural resources, especially given that the price of energy is trending toward zero?