This post might piss you off, especially some of the Singaporeans. And yes, for the record, I’m a Singaporean too. This post also contains some strong language, which I find necessary to drive the message across. My editors will hate me, but oh well…
I have been an entrepreneur since the age of 19, and I can confidently say that I have matured a lot from then to now. Back then, I was young, arrogant, and probably ignorant. I ran an educational center — not the coolest business to be in but it taught me a lot of things about life and business. My partner and I grew it from a two-man team to a 30+ hardworking-but-fun, mahjong-party group and it was recently sold at a low price.
We bootstrapped our way up and the journey has taught us to do what it takes in crunchtime. From nothing to something – the journey isn’t an easy one. We usually have to lower our made-in-Singapore arrogance to get things done. Arrogance usually clouds your judgement as an entrepreneur. It also kills opportunities. I’m not here to tell you my boring story as an entrepreneur. It is not at all colorful. Instead I’m asking all entrepreneurs to drop your arrogance and look out for opportunities.
Things just get better for me. I picked up blogging in 2009 and that was when I started to realize how arrogance could be a real hindrance towards any enterprise advancement. As a journoblogger, I have the opportunity to meet start-up founders and successful people in China, Japan, Taiwan, Indonesia, Malaysia, and Singapore. Each country has its own unique culture and different set of thinking. And Singaporeans particularly stand out, in a negative way, thanks to their ego and arrogance.
Let me put this straight and if you’re reading this, you should know if you fit into this category – Singaporeans tend to dismiss tech companies/startup founders from other Asian countries. To most Singaporeans, only Silicon Valley is cool… tech companies in China, India, Indonesia are not. Perhaps this “I want to go to the Valley” or “Made in the USA” syndrome happens everywhere. But with Asia rising up fast, shouldn’t we take a closer look at our markets? How many people bother to understand what’s happening in Asia?
Many start-ups I speak to aim for Silicon Valley but I often ask myself if that is really necessary. Going to the valley as a foreigner is as good as bringing cash there to burn. If you have grown up in Asia, chances are, you know the people and region pretty well. That itself is already a huge advantage. Don’t cry saying that we don’t have a market – Indonesia, India, China, Taiwan, Malaysia —- all are out there, up for grabs. In fact, more and more Asian folks in the U.S are moving back to Asia to exploit the opportunities here.
Sure, we all have preference. I do too. I read TechCrunch everyday to get the gist of what’s happening in the Valley. But I also look at Asia closely, and I saw an opportunity and jumped in.
Sadly, I’m also hearing that some investors are avoiding Singapore because most of us are oozing of arrogance. And as you know, investors are usually more concerned about the team (people) than the product. Several of them are here to set up their shops but their main aim is very much our neighbor – Indonesia. Singapore has a fair share of successes but I’m worried that our increasing arrogance which leads to ignorance could blind us from opportunities surrounding us.
From time to time, we see people retweeting our stuff, and that’s nice and I sincerely thank our readers for that. But, we also get some unnecessary comments tagging along with the tweet, especially when it is about China. We see moronic words like “Cheena” (a Singaporean way of mocking China) and “Lame” in the tweets. Again, these are signs of arrogance, blinding opportunities.
China is huge and it will just get bigger, to the point where most of us will have no choice but to start learning what’s happening over there. It’s the same for Indonesia and India – where both markets have many consumers waiting for the next big thing.
Great insight Willis. Here are some of my impressions on this topic (if any1 wants more details, ping me on twitter @saumilnanavati:twitter
1) Sense of entitlement being a developed nation
2) After meeting some billionaires, they ALL have HUMILITY
3) World is flat and singapore market is small
4) Indonesia + Malaysia + Philippines + Singapore + Thailand = 372 million people > US population of 350 million —hmmmm
If in doubt watch Wall Street 1 to know why the hungry and the poor have a better chance of being successful.
Totally agreed with Willis. “Made in S.E.A” and not “Made in Singapore”… 不要再做井底之蛙了。
Thanks for writing this out. As a not-singaporean, I wouldn’t voice it out as it seems not a good idea to instigate the local pitchfork populace. There is much take away in what you say, but most will not see it, they do not know the several multi millionaires and billionaires who are never seen in public and owe their success to Asian markets. The few who know this or see it, you have added to our confidence =)
Willis- you made a very good point there. I find that entrepreneurs tend to be very arrogant, in general. Not very sure if it’s a Singapore problem only
But what I do know is that China is booming, so is Indonesia and pretty much the rest of South East Asia- including Vietnam. If we keep sticking to the mindset that America is the “it” market for every single product we market and then claim that “market-fit” just isn’t here, we are losing out.
I echo your concerns for Asian entrepreneurs to start venturing out of their “in-their-head” projections and into the real world where the consumers and money are.
Well India is definitely picking up, start ups are getting immersed in all the new technology that comes their way & more and more graduates prefer opening their own venture rather than working under some one! In the recent Mumbai blasts, social media was used to battle the damage caused and help people. That’s how people are being innovative and accepting technology. Apparently China too is coming up in much newer ways like the fake apple stores it’s been opening. There could be more fake Apple stores than wild Giant Pandas in China. Everyone is surely waiting for the next big thing; in the meantime they are also trying to make theirs the next big thing!
I’m quite surprised to learn that there are Singapore-based
entrepreneurs who dismiss tech start-ups/founders from other Asian
countries – though it’s to no surprise that there are Singaporeans who
think that way, sadly.
I’m sure Saumil would have included this
if he were to expand his points from s/n 5 onwards, but I think one of
the main reasons to why Singaporeans think this way is rooted in our
culture of consumerism – that anything from North America or Europe
is supposedly superior or the best, almost by default. So naturally for the tech
industry, the yardstick would be whether a product/company is in/has
links to SV.
Anyway, while the East is looking to the West, the
West is looking East. Having been involved in a SV start-up’s market
expansion into Asia + conversations here and there, what I learn is that even U.S. start-ups (well, we know [most of] the giants are already in
Asia) are are very very very interested in the region. But many are
unsure of the strategy because of each Asian country’s unique
characteristics. So it’s great what you are doing at penn-olson and the
guys at e27/SGE etc. in providing insights to the tech/start-up scene in
Asia!
I’m quite surprised to learn that there are Singapore-based
entrepreneurs who dismiss tech start-ups/founders from other Asian
countries – though it’s to no surprise that there are Singaporeans who
think that way, sadly.
I’m sure Saumil would have included this
if he were to expand his points from s/n 5 onwards, but I think one of
the main reasons to why Singaporeans think this way is rooted in our
culture of consumerism – that anything from North America or Europe
is supposedly superior or the best, almost by default. So naturally for the tech
industry, the yardstick would be whether a product/company is in/has
links to SV.
Anyway, while the East is looking to the West, the
West is looking East. Having been involved in a SV start-up’s market
expansion into Asia + conversations here and there, what I learn is that even U.S. start-ups (well, we know [most of] the giants are already in
Asia) are are very very very interested in the region. But many are
unsure of the strategy because of each Asian country’s unique
characteristics. So it’s great what you are doing at penn-olson and the
guys at e27/SGE etc. in providing insights to the tech/start-up scene in
Asia!
Willis – I loved your post and couldn’t agree more. This fixation on the Valley absolutely needs to change and I don’t think the problem is restricted to Singapore only. I’ve seen a similar mind-set, although to a lesser degree in some Indian startups as well. I’ve long argued that the Singapore-India corridor (to take just one example of a large neighboring country with a multi-hundred million strong consuming middle class) is way underexploited and part of the reaons is that both countries are overly fixated on the US and less concerned about their immediate neighbours.
The incubation centers, universities and various agencies that foster “innovation” need to shoulder some responsibility as well. Most of the events I attend showcase a silicon valley entrepreneur or mentor or an incubation model that’s been imported from the Valley with little thought as to how this is relevant to the Asian context. What about Asian success stories and role-models? Many VC’s are also full of ex-Valley/US folks (full disclaimer – i used to be one) and have only recently adopted a more asian business outlook after having failed with a valley type approach to investing.
I agree with Eric, IMO, Singaporean may not be arrogant, but MANY of them are 井底之蛙 especially those who called China in some “funny” language. It does not make them sound cool at all, I just want to say to them “go out , go to see Asia and the world”
I agree with your posting, but to a certain point. We Singaporeans do seem arrogant, and we do tend to aim for Silicon Valley a lot. I do not like that one bit, especially since that there is so many huge markets around in Asia alone.
A lot of this arrogance stems from fear of the region, people are very happy in their Utopia of Singapore that they are scared of the countries in the region, especially the way the media plays them out to be.
We need to provide more education on the markets in SEA and Asia. They are very big and have huge potential, either that or some Singaporean, should just go down and replicate the products and services to those markets.
There is a lot of potential, and as leaders in the Start Up Scene especially, we Singaporeans can really make a difference. We should make an attempt to move forward.
Great post Willis. Having been to China and interacting with the entrepreneurial folks there i can’t emphasis enough how huge the opportunities are in the Middle Kingdom.
Another comment i would like to make is that true entrepreneurs should look at ideas (and opportunities) at it is regardless of national boundaries. That’s the definition of entrepreneurship, no?
hello tianglim, indeed, you’re right