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Australia - the homeland of successful emigrants. And Dick Smith. OK, before I get slammed for being a redditor ... Australia has had some brilliant inventors
by wisty 15y ago
Australia - the homeland of successful emigrants. And Dick Smith.
OK, before I get slammed for being a redditor ...
Australia has had some brilliant inventors and inventions. Not a hugely disproportionate number (though we'd like to think so), but we don't do too badly. But it never goes from prototype to product.
I guess Australians are used to zero-sum thinking. It's all rent seeking, con artists, and conservative hard work - farmers, miners, government, business people (hustlers) and retail. There's no real need for innovative companies.
So while we have a few good ideas, no-one really wants to fund them. There's the occasional Ponzi scheme (generally backed by a good idea, but generally over-hyped), but the actual value created by innovative Australian stuff is relatively insignificant.
- robryan 15y agoI think the problem is more on the side of investors than innovators. Investors here are more likely to be after less risky opportunities and want to see more revenue profit before getting involved. Compared to in SV where it seems like a good team/ idea can land you enough funding to make a real go of it without having to first bootstrap to profitability.
- wisty 15y agoIt won't just be investors. It will also be regulators (who will take a dim view of smaller operators), potential employees, suppliers, and so on.