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by jandrewrogers
1475 days ago
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It is difficult to separate the culture from the consequences of the culture. In the US there is minimal social stigma for trying something ambitious and failing, the culture respects the ambition and courage to try even if it doesn't work out or the idea was slightly idiotic. In many parts of the world, trying something and failing is held against you and becomes a social black mark; Americans just shrug and move on to the next thing. Investors in the US reflect that culture. A lot of American cultural difference relative to the rest of the world can be explained almost entirely by the unusual absence of Tall Poppy Syndrome[0] that is a hallmark of most other industrialized societies. American culture respects those taking large risks for concomitant rewards, and doesn't begrudge the rewards that might accrue to someone taking those risks. It is easy to have a high risk appetite when it increases one's social status. [0] https://en.wikipedia.org/wiki/Tall_poppy_syndrome |
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I think fear of bankruptcy can be a higher deterrent for foolish risks than social stigma.
> In many parts of the world, trying something and failing is held against you In Europe you don't lose people's sympathy if you try something and fail.