What We Are Reading Today: Boulevard of Broken Dreams by Josh Lerner

Updated 05 December 2018
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What We Are Reading Today: Boulevard of Broken Dreams by Josh Lerner

Silicon Valley, Singapore, Tel Aviv — the global hubs of entrepreneurial activity — all bear the marks of government investment.

Yet, for every public intervention that spurs entrepreneurial activity, there are many failed efforts that waste untold billions in taxpayer dollars. 

When has governmental sponsorship succeeded in boosting growth, and when has it fallen terribly short? Should the government be involved in such undertakings at all?

Boulevard of Broken Dreams is the first extensive look at the ways governments have supported entrepreneurs and venture capitalists across decades and continents.

Josh Lerner, one of the foremost experts in the field, provides valuable insights into why some public initiatives work while others are hobbled by pitfalls, and he offers suggestions for how public ventures should be implemented in the future. Discussing the complex history of Silicon Valley and other pioneering centers of venture capital, Lerner uncovers the extent of government influence in prompting growth. 

He examines the public strategies used to advance new ventures, points to the challenges of these endeavors, and reveals the common flaws undermining far too many programs — poor design, a lack of understanding for the entrepreneurial process, and implementation problems.

Lerner explains why governments cannot dictate how venture markets evolve, and why they must balance their positions as catalysts with an awareness of their limited ability to stimulate the entrepreneurial sector.

 


Karl Lagerfeld: Looking back at his rise to fame and love of Arabian fashion

The designer died at the age of 85 on Tuesday. (File photo: AFP)
Updated 19 February 2019
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Karl Lagerfeld: Looking back at his rise to fame and love of Arabian fashion

DUBAI: As tributes pour in from across the fashion world over the death of industry icon Karl Lagerfeld, we take a look at his storied rise to fame, as well as his controversial comments on Middle Eastern migrants and his love of fashion from the region.

The designer died at the age of 85 on Tuesday after he failed to make an appearance at the Chanel show at Paris Couture Week in January, prompting industry insiders to question the state of his health.

Reuters reported that Lagerfeld enjoyed the stature of a deity among mortals in the world of fashion, where he stayed on top for well over half of a century and up to his death, at an age almost nobody apart from himself knew with to-the-day precision.

The German designer was best known for his association with France’s Chanel, dating back to 1983. The brand, the legend now goes, risked becoming the preserve of monied grannies before he arrived, slashing hemlines and adding glitz to the prim tweed suits of what is now one of the world’s most valuable couture houses.

But Lagerfeld, who simultaneously churned out collections for LVMH’s Fendi and his eponymous label — an unheard of feat in fashion — was almost a brand in his own right.
Sporting dark suits, white, pony-tailed hair and tinted sunglasses in his later years that made him instantly recognizable, an irreverent wit was also part of a carefully crafted persona.

“I am like a caricature of myself, and I like that,” runs one legendary quote attributed to him, and often recycled to convey the person he liked to play. “It is like a mask. And for me the Carnival of Venice lasts all year long.”

Tributes pour in 

The world’s fashion elite took to social media to pay tribute to the hugely respected designer, with the likes of Victoria Beckham, Donatella Versace and Lilly Allen leading the pack.

Versace shared a similar message.

Singer Allen took to social media with a touching message.

Meanwhile, Lebanese designer Zuhair Murad also paid tribute.

 
 
 
 
 
 
 
 
 
 
 
 
 

In great honor and admiration of the iconic fashion legend Karl Lagerfeld - Rest In Peace

A post shared by Zuhair Murad Official (@zuhairmuradofficial) on

Model Gigi Hadid shared a message on Instagram Stories.

Controversial comments

His artistic instincts, business acumen and commensurate ego combined to commercially triumphant effect in the rarefied world of high fashion, where he was revered and feared in similar proportions by competitors and top-models.

Lagerfeld was as harsh with his fashion models as he was searingly critical of anyone he considered "not trendy".

He fired his closest female friend, former Chanel model Ines de la Fressange, in 1999 after she agreed to pose as Marianne, France's national symbol, without asking him first.

Occasionally his sharp tongue has stirred controversies, though he also had a flair for a good soundbite.

In 2017, he sparked outrage by evoking the Holocaust in an attack on Chancellor Angela Merkel over her opening of Germany’s borders to migrants.

“One cannot – even if there are decades between them – kill millions of Jews so you can bring millions of their worst enemies in their place,” the 80-year-old Chanel designer told a French TV show.

“I know someone in Germany who took a young Syrian and after four days said: ‘The greatest thing Germany invented was the Holocaust’,” he added.

Middle Eastern inspiration

Despite the abrasive comments, the designer went on to release an Egypt-inspired collection in December 2018 and sent models down the runway in a rich array of Ancient Egypt-themed outfits at New York’s Metropolitan Museum of Art.

Gold shimmered all over the runway, as models strolled past the floodlit temple in everything from gold thigh-high boots to gold brimmed hats to glistening dresses with golden feather adornments, to shoulder-length gold earrings.

Singer Pharrel walked the runway during Karl Lagerfeld's Egypt-inspired show in December. (AFP)

It isn’t the only time he has looked to the Middle East for inspiration, however.

The designer made a much-reported-on appearance in Dubai in 2014 when Chanel staged its Cruise collection show in the city.

That collection was inspired by an Orientalist vision of hazy Arabian nights and featured harem pants, ghutra-pattern-inspired coats and diaphanous jumpsuits, along with a heavy use of mosaic-style patterns.

Karl Lagerfeld photographed at ‘The Island’ in Dubai during the Chanel fashion show on May 13, 2014. (AFP)

In 2018, he worked with Lebanese architect Aline Asmar D’Amman on the renovation of Paris’s Hôtel de Crillon and, in a win for the Middle Eastern fashion scene, he photographed Bella Hadid for Vogue Arabia’s first September issue in 2017.

In rare moments when he was not working, Lagerfeld retired to one of his many homes in Paris, Germany, Italy or Monaco, all of them lavish carbon copies of 18th-century interiors.