&gt; I like the thrust of your argument, but from my perspective in Singapore&#x2F;Asia, that&#x27;s not quite what I see...The US-educated scions of well-connected families are especially responsible for techologising their behemoth family businesses and launching modern apps.<p>This is exactly correct. The GP&#x27;s post reminded me of <i>The Coming Transformation</i>, a report by VC firm Formation 8: <a href="http:&#x2F;&#x2F;formation8.com&#x2F;resources&#x2F;the-coming-transformation&#x2F;" rel="nofollow">http:&#x2F;&#x2F;formation8.com&#x2F;resources&#x2F;the-coming-transformation&#x2F;</a><p>The report draws a similar comparison between the decline of the landed aristocracy during the Second Industrial Revolution and the coming decline of the industrial aristocracy due to &quot;software eating the world.&quot;<p>However, Formation 8 is taking advantage of this opportunity: one of their partners is the scion of a Korean conglomerate, and he&#x27;s no doubt leveraging his family ties to obtain buy-in from many other HNW families from all over Asia:<p><a href="http:&#x2F;&#x2F;www.bloombergview.com&#x2F;articles&#x2F;2015-03-05&#x2F;why-formation-8-loves-the-startup-game-in-asia-and-silicon-valley" rel="nofollow">http:&#x2F;&#x2F;www.bloombergview.com&#x2F;articles&#x2F;2015-03-05&#x2F;why-formati...</a><p><a href="http:&#x2F;&#x2F;www.bloomberg.com&#x2F;news&#x2F;articles&#x2F;2015-06-25&#x2F;sun-yat-sen-s-grandson-said-to-join-lg-scion-in-new-asia-vc-fund" rel="nofollow">http:&#x2F;&#x2F;www.bloomberg.com&#x2F;news&#x2F;articles&#x2F;2015-06-25&#x2F;sun-yat-se...</a>