Economic and social shifts have provided added momentum for startups. The prolonged economic crisis that began in 2008 has caused many millennials - people born since the early 1980's - to abandon hope of finding a conventional job, so it makes sense for them to strike out on their own or join a startup.
A lot of millennials are not particularly keen on getting a "real" job anyway. According to a recent survey oaf 12,000 people aged between 18 and 30 in 27 countries, more than two-thirds see opportunities in becoming an entrepreneur. That signals a cultural shift. "Young people see how entrepreneurship is doing great things in other places and want to give it a try," notes Jonathan Ortmans of the Ewing Marion Kauffman Foundation, which organized an annual Global Entrepreneurship Week.
-as excerpted from A Cambrian Moment special report on tech startups in The Economist