Netizen: Many people say that Singaporeans are not creative and risk adverse; a bad combo for setting up a global company. What do you think? TK: Well, I think that is changing and I am really excited to see quite a lot of buzz in SGP. We do like to stick in our comfort zone - SGP being what it is but I think there is a growing bunch of people who are willing to give it a try. I think we do have it in us to think big and be daring - we just need more success stories - so get going guys! Netizen: Mr. Wong. Do u think University/Poly is doing enough for cultivating the talent locally? TK: I do think doing it from SGP is almost against all the odds. I think its not a function of the tertiary institutes here alone - we must breed more diversity and bring in more hungry people from all over. SGP being small, being far away from the action, and not having a deep talent pool - these are the odds that are against us to succeed as a knowledge economy. Netizen: Can the Singapore government foster a SV? TK: The gov't has done a lot - but SV is not something the gov can do. SV was a mistake and cannot be easily created. A mistake because no one planned it - it was the result of a dirty dozen that LEFT Fairchild to start Intel, and of course the folks who started HP. Netizen : So govt should give up the ghost? Or is there a role to play? TK: Its a tango. I realised many years ago that entreprenuers must come about because people are hungry-- hungry to do big things - and have the courage to do it. Gov't can certainly raise awareness and remove barriers - but they are not the driving force. That we must rely on the human spirit - and SGP'reans must become more hungry to make a difference. Netizen: Which Asian countries people have best chance of playing head-to-head with the Big Boys. Taken consideration of Government support, talent as well as education ... ? TK: Taiwan, India and of course Japan. Singapore also has a chance but we must choose our niches and be very differentiated. Netizen: What are our niches? TK: That's not an easy question to answer - I think SGP is still searching -- we do not have many global successes to speak of, unlike the Taiwanese, the Japanese and the Indians. Netizen: Do u think most singaporeans who startup in SV will succeed more than those who startup here in SG ? TK: But I have noticed that SGP'reans seem to do well in SV, or at least have a fighting chance. Netizen: Is SV a hive of unbridled competitive individualism - dog eat dog world or is it more cooperative than that? Someone suggested that there is actually a lot of sharing of info and good relations about people out there. TK: Which brings me to the conclusion is that SGP still at this time does not have the critical mass to succeed globally. Yes, SV has a lot of sharing going on. My CTO works closely with another comparing various technologies and there is this we can all win mentality. Netizen: How do you compete and share at the same time? TK: Because you are racing against time and opportunity... People put aside some competitive areas so that they can do bigger things... But of course there is competition and where it is applied - it is fierce, furious and fun. Netizen: I last visited SV about five months ago. At the railway station in San Jose I came across a guy who was picketing the govt for not improving the rail service! There seems to be less govt there- much less. Do you see that as a plus or minus? TK: That is why also there are more mergers and acquisitions in the US than outside. US people picket the gov't all the time! People are more conscious about their role in shaping their community than in SGP - partly because the gov't there didn't do as good a job. Netizen : Does it mean that for a local dot.com to succeed, it has to sow its seeds in SV? TK: It depends on your niche - is it technology, a service or mkt-specific. For technology - almost all the time I would say yes to SV. Netizens: In Wired, Singapore ranked lower than even KL as a technology hub. One of the criterion was R and D climate. What kind of research is one talking about when referring to R and D out there in SV? Judging from the recent Nasdaq phenomena, is it wise to continue to use Silicon Valley as our model? TK: In SGP - gov't does own a lot of the large businesses. I think in SV - people are willing to take larger risks - both personally and financially. So I would not distinguish between R or D but really from the size of the bets. The financial market is driven a lot by sentiment - and that does not take away the great contribution SV is making to the economic prosperity of the US. Netizen: Are U avoiding my question - like a fencer? - the point was is more government better or less better for an entrepreneurial community to flourish? TK: Less gov't creates a situation where we have to do more on our own. Netizen: You have said that you needed the market out there in SV/US in an MSNBC. What did this mean? TK: To become worldclass, you need a mkt that can support your investments - a mkt that is big and that can pay the big $$- and the US is one of the most condusive but also the most competitive. Netizen: So what should we do in SGP now if we are nowhere near anywhere? TK: Wait - don't give up hope! We must continue to build our capabilities - but also be realistic that its a 5-10 year journey. We need to invest in people, technology and also bringing in lots of foreign talent from diverse backgrounds. Netizen: Do you see SGP vcs or angels being able to match the deep pockets and guts of Sandy Hill? TK: No. SGP VCs are not there yet. It will take time. The VC mkt here is large driven by sentiment and herd instinct - not visionaries. Netizen: I don't understand why SGP has not enough talent pool. The local universities, private schools and polytehcnics churn out thousands of graduates annually. Isn't that enough? If it is not quantity, then a SV conducive environment needs to be inculcated here in SGP? Spearheaded by the SGP govt? TK: Talent is not about schools alone. Talent comes from building depth in operating businesses, having exposure, and being involved in worldclass product development. We lack leadershipp in many of these - and certainly people with that kind of depth - we are a young nation. Netizen: So if we do not have worldclass fuel - how can we get worldclass fire? TK: I like that - yes - we need worldclass fuel - and we must import some, and we must go overseas and catch some more! The best thing I have seen from experience is to get them seduced with a local partner. There is more than enough room - we are really lacking in talent, and we should all be humble enough to continue learning. Netizen: Is SV the only place to become a global player? What about Ireland and India? TK: India is interesting place - I think it will become the software capital of the world - the next Bill Gates may come from there. In fact, over 30% of the SV entreprenuers are run by Asians - with Indians being a significant part - they are invading Silicon Valley in droves - SGP needs to catch up. Netizen: If our environment is not right - it may turn out to be reverse seduction-don't you think? TK: Reverse seduction is ok too. I am sure many will learn from the experience and come back to help. Netizen: How about sending all our fresh grads to SV to gather experience then? TK: I used to say that we should let go all our Scholars studying in the states "go" and let them have experience in the US. Netizen: How about the regulatory framework in Singapore? Some say that there is too much to allow entrepreneurial spirit to develop. Your views? TK: Wow - thats a heavy subject. There are still many things that form the status quo - and entrepreneurs have to face up to these barriers as reality. Netizen: We complain govt regulates too much - censorship etc etc. What are some areas people like yourself can suggest regarding self-regulation by industry players. One turn-off about Singapore is after-all that it is too over-regulated. TK: Yes - I tend to agree about too much regulation. But there is a wind of change - but it will take time to percolate across the bureacracy. After the big bucks - people do it for other reasons. Netizen: Does that mean even Indians who want to make it big need to leave home and head for SV? TK: There are a few Indian companies which have become very successful from India... but it is disproportionate to the number who have been successful in SV... Fire in your belly is one of the most impt success factors for an entreprenuer. Taiwan really benefited from the brain drain many decades ago because many of them went back to Taiwan and helped grow the industry - with established connections back in SV. Which brings up that NETWORKING is really key in SV. Netizen: On a different track, sometimes I wonder if it is really talent. Perhaps Asia is just too fragmented and markets are too small. Opportunities will never be as big as US for companies and talent to grow or invest enough TK: Yes, our mkts are very tough to build succeesful companies because of the fragmentation. Netizen: How does Silkroute keep talent ? TK: We are still trying in the face of a tremendous shortage in SGP. For some, its the flexibility that counts, for others - its the challenge. I don't think there is any formulae to keeping talent. It really is about addressing individual needs.I don't think we are the best eg of keeping talent - then again, I am not sure who is in the SGP mkt? Netizens: Have you tried Networking in SGP? I have done it here and in the US. It seems to be more of a poker game here-don't U think? It is more like a poker game here. Lack of trust and social capital. How to build it up? TK: We still don't have a culture of sharing. When you have more successes and people who are not doing it only for the $$. Netizen: I've noticed big companies or institutions tend to form the epicenter for much development. eg include Nokia . What company do you see fulfilling the role in Singapore? TK: Creative has begun some of that sponsoring, unfortunately a lot of the clout lies in GLCs. Netizen: So GLCs as the epicentres in Singapore? TK: Until GLCs adopt a more open approach - it will not happen. There are some cultural differences between GLCs and entrepenuers who have built large businesses. Netizen: What's the participation of women in the whole technopreneurial thing out there in SV/Boston, etc TK: There are few women but there are some success stories---- The SV culture is very punishing- late nights, globe trotting and for most women who also value family - this is a difficult life to lead. The demands are tremendous. Netizen: My experience in Rt128 in 1989-94 was that it's very much a men's game. Although some bright female techkies from MIT and MBAs from HBS are getting into the fray. Netizen: Can you elaborate on some of the cultural differences that prevent them from being epicenters? TK: Because they were not entreprenuers , they do not have the same empathy for the struggles of boostrapping, of not being given a silver spoon in the mouth, of not being given guaranteed business. Netizen: Is the success of SV due more to the healthy disrespect of the status quo rather than the lack of regulations or abundance of talent? TK: ALL THREE. Plus lots of $$$ that is willing to go to bet on big ideas. Netizen: How big a disruption has NS made to you as an entreprenuer? TK: Good question. Another reason why I applied for Exit Permit to work in SV