Brandon Donnelly
Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly.
Brandon Donnelly
Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly.
A super-entrepreneur, according to the common definition, is a rich person who has amassed a net worth of at least US$1 billion dollars by either starting a company or taking a small company and growing it into a big one. A super-entrepreneur is, by definition, not someone who inherited their wealth. Though I'm not sure what the cut off is. If you inherited $1 million and then started a massive company, does that still make you a super-entrepreneur? What about if you inherited $100 million?
In any event, here is a chart from New Geography showing super-entrepreneurs by region:

The USA is in the lead in this chart at about 3.1 super-entrepreneurs per one million inhabitants. But the highest rate in the world, at least according to this data set, actually belongs to Singapore at 4.7 per million. Europe, as a whole, doesn't look all that great here. But again, if you get more specific, some European countries are actually doing quite well. Sweden, for instance, is sitting at around 2 per million, which is higher than Canada's figure.
Why this data is potentially interesting is that it tells you a bit about these countries. It tells you whether they have strong property rights, whether it's easy to conduct business, and whether it's supportive of new ideas, among, of course, many other things. There also appears to be a clear link between the presence of super-entrepreneurs and unemployment. Turns out that the more people you have starting wildly successful businesses, the lower unemployment tends to be.
For the full New Geography article, click here. In addition to what I just wrote about, it talks about Europe's "entrepreneurial paradox" and issues of gender equality.
Sam Altman has an interesting post up on his blog talking about what he feels is a changing cultural environment in San Francisco (which is where he is based). His argument is that heresies are good for innovation and for moving the world forward. We need people to question established norms. But for that to happen we need environments and cities that encourage it, or at the very least allow it.
Here’s an excerpt:
Restricting speech leads to restricting ideas and therefore restricted innovation—the most successful societies have generally been the most open ones. Usually mainstream ideas are right and heterodox ideas are wrong, but the true and unpopular ideas are what drive the world forward. Also, smart people tend to have an allergic reaction to the restriction of ideas, and I’m now seeing many of the smartest people I know move elsewhere.
In San Francisco he is starting to feel that it is becoming increasingly difficult to have wacky ideas and to work on wacky startups. And for this reason, people are starting to leave the city in search of more open cultures. Openness used to be a hallmark of San Francisco. It was once the epicenter of counterculture. Has that changed?
Here is a final excerpt:
I don’t know who Satoshi is, but I’m skeptical that he, she, or they would have been able to come up with the idea for bitcoin immersed in the current culture of San Francisco—it would have seemed too crazy and too dangerous, with too many ways to go wrong. If SpaceX started in San Francisco in 2017, I assume they would have been attacked for focusing on problems of the 1%, or for doing something the government had already decided was too hard. I can picture Galileo looking up at the sky and whispering “E pur si muove” here today.
Click here to read the full post.
In a knowledge and innovation economy, new ideas matter a great deal. But it seems to be a lot easier for existing companies to come up with sustaining, incremental innovations, than it is for them to come up with new, disruptive innovations.
New can be hard.
That’s why I was interested in a recent New York Times article by Wharton professor Adam Grant called, How to Raise a Creative Child. Step One: Back Off.
The article starts by arguing that many “child prodigies” rarely become adult creators who go on to the change the world:
The gifted learn to play magnificent Mozart melodies, but rarely compose their own original scores. They focus their energy on consuming existing scientific knowledge, not producing new insights. They conform to codified rules, rather than inventing their own. Research suggests that the most creative children are the least likely to become the teacher’s pet, and in response, many learn to keep their original ideas to themselves. In the language of the critic William Deresiewicz, they become the excellent sheep.
To become creators Adam argues that children need to be given the freedom and independence to develop their own sense of self:
When psychologists compared America’s most creative architects with a group of highly skilled but unoriginal peers, there was something unique about the parents of the creative architects: “Emphasis was placed on the development of one’s own ethical code.”
Yes, parents encouraged their children to pursue excellence and success — but they also encouraged them to find “joy in work.” Their children had freedom to sort out their own values and discover their own interests. And that set them up to flourish as creative adults.
I firmly believe in this approach. But of course, this doesn’t just apply to children; though that is certainly an important takeaway. I also think that if you want the best work out of people in the workplace, you also need to: back off.
Creativity needs freedom.
A super-entrepreneur, according to the common definition, is a rich person who has amassed a net worth of at least US$1 billion dollars by either starting a company or taking a small company and growing it into a big one. A super-entrepreneur is, by definition, not someone who inherited their wealth. Though I'm not sure what the cut off is. If you inherited $1 million and then started a massive company, does that still make you a super-entrepreneur? What about if you inherited $100 million?
In any event, here is a chart from New Geography showing super-entrepreneurs by region:

The USA is in the lead in this chart at about 3.1 super-entrepreneurs per one million inhabitants. But the highest rate in the world, at least according to this data set, actually belongs to Singapore at 4.7 per million. Europe, as a whole, doesn't look all that great here. But again, if you get more specific, some European countries are actually doing quite well. Sweden, for instance, is sitting at around 2 per million, which is higher than Canada's figure.
Why this data is potentially interesting is that it tells you a bit about these countries. It tells you whether they have strong property rights, whether it's easy to conduct business, and whether it's supportive of new ideas, among, of course, many other things. There also appears to be a clear link between the presence of super-entrepreneurs and unemployment. Turns out that the more people you have starting wildly successful businesses, the lower unemployment tends to be.
For the full New Geography article, click here. In addition to what I just wrote about, it talks about Europe's "entrepreneurial paradox" and issues of gender equality.
Sam Altman has an interesting post up on his blog talking about what he feels is a changing cultural environment in San Francisco (which is where he is based). His argument is that heresies are good for innovation and for moving the world forward. We need people to question established norms. But for that to happen we need environments and cities that encourage it, or at the very least allow it.
Here’s an excerpt:
Restricting speech leads to restricting ideas and therefore restricted innovation—the most successful societies have generally been the most open ones. Usually mainstream ideas are right and heterodox ideas are wrong, but the true and unpopular ideas are what drive the world forward. Also, smart people tend to have an allergic reaction to the restriction of ideas, and I’m now seeing many of the smartest people I know move elsewhere.
In San Francisco he is starting to feel that it is becoming increasingly difficult to have wacky ideas and to work on wacky startups. And for this reason, people are starting to leave the city in search of more open cultures. Openness used to be a hallmark of San Francisco. It was once the epicenter of counterculture. Has that changed?
Here is a final excerpt:
I don’t know who Satoshi is, but I’m skeptical that he, she, or they would have been able to come up with the idea for bitcoin immersed in the current culture of San Francisco—it would have seemed too crazy and too dangerous, with too many ways to go wrong. If SpaceX started in San Francisco in 2017, I assume they would have been attacked for focusing on problems of the 1%, or for doing something the government had already decided was too hard. I can picture Galileo looking up at the sky and whispering “E pur si muove” here today.
Click here to read the full post.
In a knowledge and innovation economy, new ideas matter a great deal. But it seems to be a lot easier for existing companies to come up with sustaining, incremental innovations, than it is for them to come up with new, disruptive innovations.
New can be hard.
That’s why I was interested in a recent New York Times article by Wharton professor Adam Grant called, How to Raise a Creative Child. Step One: Back Off.
The article starts by arguing that many “child prodigies” rarely become adult creators who go on to the change the world:
The gifted learn to play magnificent Mozart melodies, but rarely compose their own original scores. They focus their energy on consuming existing scientific knowledge, not producing new insights. They conform to codified rules, rather than inventing their own. Research suggests that the most creative children are the least likely to become the teacher’s pet, and in response, many learn to keep their original ideas to themselves. In the language of the critic William Deresiewicz, they become the excellent sheep.
To become creators Adam argues that children need to be given the freedom and independence to develop their own sense of self:
When psychologists compared America’s most creative architects with a group of highly skilled but unoriginal peers, there was something unique about the parents of the creative architects: “Emphasis was placed on the development of one’s own ethical code.”
Yes, parents encouraged their children to pursue excellence and success — but they also encouraged them to find “joy in work.” Their children had freedom to sort out their own values and discover their own interests. And that set them up to flourish as creative adults.
I firmly believe in this approach. But of course, this doesn’t just apply to children; though that is certainly an important takeaway. I also think that if you want the best work out of people in the workplace, you also need to: back off.
Creativity needs freedom.
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