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No Place For Elon Musk or Steve Jobs. Singapore’s “More Fearful of Failure” reflects in the coming Presidential Election.

 No Place For Elon Musk or Steve Jobs.

Singapore’s “More Fearful of Failure” reflects in the coming Presidential Election.


Singapore is still not prepared to take risks.  When we become richer, we are more fearful of failure.   In the coming Presidential Election, the entrepreneur, George Goh, is disqualified.  Oh! No, you cannot simply group five companies into one and make up the number.


We are not prepared to take up this kind of risk or leverage where one can grow businesses bigger and bigger.  So, when we manage our reserves, we are very conservative, even more ‘kiasu’ than insurance companies. Tan Kin Lian has an incredible performance at NTUC Income, growing its assets from S$28 million to S$17 billion over a 30-year period when he was the CEO there. 


Looking at the way we manage our reserves, DBS Group CEO Piyush Gupta calls for a re-think.


[The administration should consider whether to use it to “address the underbelly of society” or more importantly, to scale up Singapore’s presence in new sectors and industries, Gupta said.]


Does this calling request the elected president to have some kind of entrepreneurship or new approach in risk assessment?   


People are asking how will Elon Musk or Steve Jobs perform in Singapore if they have their business here?  How will Singapore assess these entrepreneurs? Got a chance or no chance.  No wonder George Goh’s “One Chance For Change” fails.  


And what can he say? “I cannot accept the decision.” “not fair”.  Avoiding risk is just part of our culture or the PAP culture?

 

But this is how Singapore looks and values our entrepreneurs!  



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