Fintech 020, organized by Nexchange, was taken place at PMQ during the week of Nov 7-10, 2016 in Hong Kong. On Nov 10, 2016, a session was about “What can Hong Kong learn from China Fintech?” by Edward Tse, founder & CEO of Gao Feng Advisory Company. He specifically focused on what Hong Kong entrepreneurs can learn from China’s.
Although there are many issues visibly happening in the Greater China region, including environmental pollutions, P2P lending, massive disconnect between urban and rural areas, just to name a few. Mr. Tse thought what other people view as imperfections are valid opportunities to ignite the fire for entrepreneurship. He emphasized that today’s disruptors could be disrupted tomorrow and urge millennials to seek opportunities to solve the disruptors they see around them.
Although people who have just started out in their careers would ponder and weigh on the risks involve going down the path of entrepreneurship where historic statistics have pointed to a low probability of success and acceptance. It is said that roughly less than 10% of the start ups will survive the first 2-3 years of its’ inception. The % varies in different regions and countries across different spectrum of industries. Peter’s Thiel’s book, “Zero to One”, was then recommended and so as “One…. Infinity” by George Gamow.
One of the theories being highlighted is that even a small % of a large number is still a large number. A big platform allows you to unleash all kinds of potential on global reach. Last but not least, mentality counts a lot in entrepreneurship while creating an exponential organization requires an exponential mindset.