Boulevard of Broken Dreams

Boulevard of Broken Dreams examines government efforts to stimulate venture capital and entrepreneurship through policy initiatives and public investment programs. Through case studies spanning multiple countries and time periods, the book analyzes both successful and failed attempts by governments to foster innovation and start-up ecosystems. The text focuses on specific programs in locations like Israel, Singapore, and New Zealand to extract lessons about effective public sector involvement in entrepreneurship. Lerner draws from decades of research to identify key factors that determine program outcomes and long-term sustainability. The analysis highlights the inherent challenges governments face when attempting to replicate Silicon Valley-style innovation clusters. The book presents frameworks for policymakers to evaluate and structure entrepreneurship initiatives while acknowledging the limitations of public sector intervention. At its core, Boulevard of Broken Dreams is an examination of the complex relationship between government policy and organic entrepreneurial growth. The book contributes to ongoing debates about the optimal role of the state in fostering innovation-driven economic development.

Readers highlight this book's analysis of government venture capital programs and their limitations. Many note its relevance for policymakers and investors interested in replicating Silicon Valley's success. Liked: - Clear examples from multiple countries - Practical insights into what makes tech clusters succeed or fail - Strong data and research to support key points - Balanced view of government intervention Disliked: - Dense academic writing style - Too focused on negative cases rather than successes - Some readers wanted more actionable recommendations - Limited coverage of recent developments post-2008 One reader noted: "Excellent at explaining why most government attempts to create innovation hubs fail, but light on solutions." Ratings: Goodreads: 3.7/5 (89 ratings) Amazon: 4.1/5 (21 ratings) Google Books: 4/5 (12 ratings) Review counts are relatively low compared to other business books, suggesting it appeals mainly to specialists in venture capital and innovation policy.

Innovation and Its Enemies by Calestous Juma The book chronicles the historical patterns of resistance to technological innovations and the societal tensions between progress and status quo forces.

The Code by Margaret O'Mara The book tracks Silicon Valley's transformation from farmland to tech hub through examination of government funding, venture capital, and immigration policies.

The Power Law by Sebastian Mallaby The book examines venture capital's role in shaping modern technology through detailed accounts of key investments and industry-defining moments.

Creative Capital by Spencer E. Ante The book presents Georges Doriot's creation of the venture capital industry and its impact on technological entrepreneurship in America.

The Founders by Jimmy Soni The book reveals PayPal's journey from startup to tech giant while documenting the birth of modern digital payment systems and the creation of a powerful startup network.

🌟 Author Josh Lerner holds the Jacob H. Schiff Chair in Investment Banking at Harvard Business School and has authored numerous works on venture capital and innovation. 🌟 The book's central case study examines the Malaysian government's failed attempt to replicate Silicon Valley through its Multimedia Super Corridor project in the 1990s. 🌟 The title "Boulevard of Broken Dreams" is a reference to the many unsuccessful government attempts worldwide to create innovation clusters and venture capital industries from scratch. 🌟 The research reveals that 50% of the world's venture capital investments occur within a 150-mile radius of three cities: San Francisco, Boston, and New York. 🌟 The book won the 2010 PROSE Award for Professional and Scholarly Excellence in the Business, Finance & Management category.