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You do make good points, but I'll counter that the US is the place for startups because that's where the customers are. The countries you list do not have 200
by T-hawk 15y ago
You do make good points, but I'll counter that the US is the place for startups because that's where the customers are. The countries you list do not have 200 million internet-connected individuals with first-world levels of wealth. Western Europe is similar, with a bit more friction in crossing jurisdictional boundaries, most notably in accepting and processing payments.
That said, it's certainly possible for a startup company to exist in Singapore or somewhere but target and sell to US customers. The communication and regulatory hurdles will be higher, but not insurmountable.
- einhverfr 15y agoThose are important advantages. I would also say that my experience also suggests that US primacy in world banking contributes to it too. If someone wires money from Colombia to the US, the price is not expensive, but Colombia to Indonesia is ($100 USD per wire? WTF?). Also wiring ringgits from Indonesia (national currency is the Rupiah) to Malaysia (Ringgit) requires conversion into dollars and then wiring through New York. Some work on local banking connections would go a long way. That's probably one thing the Eurozone was intended to do for Europe. I am not sure you need a multinational every day currency though so much as an international reserve currency for the region....