American hype
There's no country on earth that does hype better than America. It's one of the most appealing aspects about being here. People are genuinely excited about the future and never stop searching for better ways to work, live, entertain, and profit. There's a unique critical mass in the US accelerating and celebrating tomorrow.
The contrast to Europe couldn't be greater. Most Europeans are allergic to anything that even smells like a commercial promise of a better tomorrow. "Hype" is universally used as a term to ridicule anyone who dares to be excited about something new, something different. Only a fool would believe that real progress is possible!
This is cultural bedrock. The fault lines have been settling for generations. It'll take an earthquake to move them.
You see this in AI, you saw it in the Internet. Europeans are just as smart, just as inventive as their American brethren, but they don't do hype, so they're rarely the ones able to sell the sizzle that public opinion requires to shift its vision for tomorrow.
To say I have a complicated relationship with venture capital is putting it mildly. I've spent a career proving the counter narrative. Proving that you can build and bootstrap an incredible business without investor money, still leave a dent in the universe, while enjoying the spoils of capitalism. And yet...
I must admit that the excesses of venture capital are integral to this uniquely American advantage on hype. The lavish overspending during the dot-com boom led directly to a spectacular bust, but it also built the foundation of the internet we all enjoy today. Pets.com and Webvan flamed out such that Amazon and Shopify could transform ecommerce out of the ashes.
We're in the thick of peak hype on AI right now. Fantastical sums are chasing AGI along with every dumb derivative mirage along the way. The most outrageous claims are being put forth on the daily. It's easy to look at that spectacle with European eyes and roll them. Some of it is pretty cringe!
But I think that would be a mistake. You don't have to throw away your critical reasoning to accept that in the face of unknown potential, optimism beats pessimism. We all have to believe in something, and you're much better off believing that things can get better than not.
Americans fundamentally believe this. They believe the hype, so they make it come to fruition. Not every time, not all of them, but more of them, more of the time than any other country in the world.
That really is exceptional.