The entrepreneur described Silicon Valley as “many villages with a limited cultural life”.
The founder of cross-platform messenger Telegram Pavel Durov has named seven reasons why you should not move to Silicon Valley. Thus, Durov reacted to journalist Yuri Dude’s new film “How IT Capital of the World Works”, which was released on 23 April. Published on Entrepreneur Telegraph Platform Post“To warn the new generation of entrepreneurs by repeating the mistakes of their predecessors.”
Founder of telegram
Durov identified the following reasons why you should not move to Silicon Valley:
1. Police State
“Despite the country’s image of independence, the United States is a difficult police state, leading in terms of the number of people in prison. The percentage of prisoners in the US is 10 times higher than in Finland, Germany or the Netherlands. (…) As I said, during a visit to San Francisco in 2016, we also faced FBI pressure from Telegram. “
2. Inaccessible healthcare
“The American health care system is inefficient and expensive, and as a result many emigrants go to Eastern Europe for treatment – it’s cheaper.”
3. Limited cultural life
“Silicon Valley is a few villages with limited cultural life. The nearest city, San Francisco, is also far from a metropolis, but has a high crime rate and a large number of homeless people. It is ironic that San Francisco is the only place in the history of my trip, where I was attacked during the day in the city center. “
4. Average Secondary Education
“The quality of secondary education in the US is lower than in other developed countries. The US takes only 38th place in the quality of teaching mathematics in schools (studied in 79 countries). All winners of the World Programming Championships, which stand for eminent American universities, are ethnic Chinese who were educated in Chinese schools and taken to the United States. “
5. High Tax
“The United States is a country of high taxes, and successful California residents pay more than half of their earnings to the state. Also, the USA is the only state in the world that continues to demand income taxes from its citizens even after leaving the country. A United States passport is an economic zone that is always with you no matter the world you live in. Of course, you try to renounce US citizenship. Can, but – as shown by the tragic example of Oleg Tinkov – and it doesn’t always work. In Eastern Europe, direct taxes are much lower than in the US, and in countries like the United Arab Emirates they are totally Are zero. “
6. High cost of development
“Silicon Valley is a place of high prices not only for real estate but also for high-tech businesses. Immigrant entrepreneurs themselves rarely employ Silicon Valley developers. Local programmers are expensive, poor and often unable to focus on work due to external suggestions and flow of ideas. As a result, emigrants prefer to work with programmers and designers from Eastern Europe, but this is often difficult for them due to the 10-hour time difference. “
7. Weak market prospects in XXI century
“The US market is an overheated and regulated segment of the global Internet, representing only 4% of the world’s population. Even 10 or 20 years ago, it seemed that all global projects were only from Silicon Valley Could be launched, and it was justified. USA then provided the largest single internet market, and all new projects, such as YouTube and Instagram, were easy to launch from there. “
As an example of successful projects in social media in recent years, Durov called for startups that emerged outside Silicon Valley: Tickcock (800 million users) – creating short videos owned by Beijing-based ByteDance and Telegram Messenger (400 million users) Video hosting for. The entrepreneur also allocated to the Indian educational startup Biju, which reached a capitalization of $ 10 billion last week.
Founder of telegram
We will remind the first business developer of international payment provider ECOMMPAY Vladimir Polakov, answering a question Payspace magazine On the regulation of the online payment market, the difficulties of doing business in the United States also noted:
Paypal magazine help
Earlier, we wrote that Telegram delayed the launch of the TON blockchain for the second time, extending it to a year before April 30, 2020. Now investors can get back up to 72% of their investment, or return 110% of their investment in a year.
The fund’s withdrawal conditions are similar to those agreed with token buyers when the company first postponed the launch of the blockchain in April 2020. In October 2019, the US Securities and Exchange Commission (SEC) accused Telegram of illegally conducting a $ 1.7 billion ICO.
The company lost a lawsuit against the SEC in March this year, when a New York judge upheld the commission’s status and blocked the distribution of gram tokens. Telegram tried to challenge the verdict, but in early April, the court denied the company’s request for the distribution of gram tokens to investors from other countries, which are not subject to US securities laws.
Read: Pavel Durov: On the contribution of young entrepreneurs in the payments industry