One comment about Americans saying that they are better at entrepreneurship because they treat failure as a badge of honour – have you ever actually met an American who told you about his failures, let alone with pride? In my experience, when they get up an say this in lectures, I find the lecture is full of their successes, and even the failures they bring up are actually successes dressed up with false modesty.

I say this because Europe has much to learn from the USA but on this particular issue if you watch the Americans do rather than what they say, that is the true learning point.

I believe the UK and rest of Europe are much better at celebrating failure, their press are full of failure stories, and rooting for the likes of Eddie the Eagle Edwards.

What we really need here is a lot more celebrating of success (and a few less Americans telling us to do the reverse).