Sam Altman’s ‘Shoegate’
What can London learn from SF’s startup culture?
As we speak, Twitter is alive with talk of ‘Shoegate’. If you haven’t heard, Sam Altman, one of Silicon Valley’s biggest VCs, was asked to leave The Ritz because he was wearing sneakers.
That’s right. The President of Y-Combinator wasn’t allowed in to a meeting because he wasn’t dressed correctly.
This isn’t about who was right or wrong in that situation. It’s not about whether The Ritz should have bent the rules, or whether Sam Altman needs to adhere to them. This is indicative of a bigger problem in the London startup scene.
Work culture in London is much more focused on tradition. On your morning commute, you’ll see hundreds of people in their business casual suits, whether they work in a large corporation or a startup. Maybe it’s because The City has such strong roots in finance, or maybe it’s because business has been conducted there in a certain way for centuries and nobody is ready to change it.
Our startup was invited to an Entrepreneur-focused Healthtech event hosted by one of the top European business schools, and even there we were required to wear business attire. When we complained and asked why, they said it was because investors might be there.
In London, it seems like you won’t be taken seriously unless you dress smartly. In San Francisco, it’s almost the opposite. In Silicon Valley, investors don’t see wearing a suit as conducive to creative thinking. To this day, Mark Zuckerberg dresses primarily in jeans and a t-shirt. If he were from London, would the city still have these rules? Is this why the next Mark Zuckerberg isn’t from London? Would people care what she is wearing? If meeting places in San Francisco had this policy, they wouldn’t be in business for long.
The question this raises for us is, ‘what kind of startup culture is London creating?’ The city is famed for its history, but this isn’t an environment that encourages entrepreneurship.
It’s an environment that asks people to behave like those who were here before, which doesn’t inspire innovation.
London needs to create an atmosphere that celebrates entrepreneurs, instead of requiring them to conform. Until then, London’s Silicon Roundabout won’t be able to live up to its full potential. London has a lot to offer startups. It’s a hub of commerce, ideally located with links to the US, Europe, and Asia. Our traditions provide a unique perspective, but London’s old ways might be holding us back.
So we’re asking entrepreneurs based in San Francisco. What do you think of ‘Shoegate’? Does London need to adapt, or is there something to be said for following tradition?
