Jeremy Grantham, Startups, Venture Capital, Optimism

Our Chat With Jeremy Grantham - WSJ.com: " . . . America is a very, very optimistic-biased society . . . it's been very useful in enterprise, in venture capital...in start-ups. We have more failures here than probably every developed country added together, but in consequence, when the smoke clears, we tend to end up with the Amazons and the Googles. It's not an accident. We just throw more darts at the dartboard. The Germans are very conservative about throwing darts. We have an admirable risk-taking attitude, and we're very tolerant of failure. Q: We benefit from it? A: Absolutely, but the downside is you're willing to throw darts because you think you're going to win. American entrepreneurs all know they're going to win. Only 10 percent survive, but they all think they're going to win." (read more at link above)

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