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Jimmy Wales: London Is Better For Tech Than "Dreadful" Silicon Valley
Mickeycaskill writes: Wikipedia founder Jimmy Wales has praised London as a tech hub, saying its cultural assets make it an ideal place to do business and superior to Silicon Valley as a place to live. “I meet people around London and they ask ‘when do you go back to San Francisco?’ assuming I’m here for a few days, but I live in London,” he said at the launch of Tech.London. “There’s always this bit of British self-deprecation about ‘oh well, things are so great in Silicon Valley’. But I can tell you, things aren’t that great in Silicon Valley. London has all these incredible advantages of a tech scene, but it’s also a place people want to live. Nobody wants to live in Silicon Valley – it’s dreadful out there. London is this incredible cultural city, it’s at the crossroads of the world. In the US you have San Francisco for tech, Los Angeles for movies and Washington for politics. In London you have all these things. It’s a great place to do business.”
"I have investments in various countries from India to Kenya to Colombia, amongst other countries"
Well good luck with that, most people don't do that because of the massively high risk of losing it due to corruption. In Western markets you have a relatively high assurance that you can invest based on your understanding of the market and have your return fit your talent on predicting that.
You don't have that in the countries you list, in Kenya and India your investment is one corrupt government official away from being wiped out.
This is why dealing with corruption is such a big focus by politicians, and India is a prime example of this. 15 years ago we were told India would be a top 3 world economy alongside China and the USA. Instead it's still stuck at 10 despite having over 21x the population and drastically higher land mass and natural resources than the half way further up the ladder France. India is 142nd out of 189 in the ease of doing business index for this reason, and Kenya is 136.
Colombia does much better for sure at 34 however so is indeed a sensible investment - and probably will continue to grow as such now that things finally seem to be calming down in a possible more permanent way with FARC.
So whilst it looks good whilst things are going fine, like DRM corruption in countries like India and Kenya is one of those things that looks harmless until it fucks you, and then that's the end of your investment. They may pay off, but they're incredibly high risk.