The panel discussion entitled ‘Can the UK produce the next Facebook?’ carried The Spectator audience on a stimulating journey from Scotland to Silicon Valley, before dropping them back in London.
Mike Tobin, from Telecity, opened the discussion with a measured speech. He explained that Britain's technological status has stagnated, and blamed this on a a mixture of things: our culture, government policy and economics. 'We need to change the way we educate our kids', was the crux of his message. He suggested we should inject the 'fun, value and enjoyment' of computer coding into the school curriculum.
Julie Meyer, founder of Ariadne Capital, gave a fast-paced lecture that focussed on the restructuring of British business models. 'Nothing happens lineally or hierarchically anymore; it’s all about networks.' She called for more engagement between venture capitalists and start-up businesses. Meyer’s mantra was: 'Think big - Start small - Move fast!'
Former Senior Policy Adviser to Number Ten, Rohan Silva, listed the roadblocks to British success in cyberspace but failed to suggest any solutions. The 'barriers' that he emphasised included 'the culture of the civil service in Whitehall which still overwhelmingly assumes, at the core of its very marrow, that big is best.'
Lean Capital’s Benjamin Southworth took command of the discussion and drove it off-course, calling for a revolution. The Spectator 'chooses not to deal with reality', he insisted.
“'The problem is not that the UK is unable to produce the next Facebook, the problem is about what questions the UK is asking of itself, and what standards does it want to hold itself to.'
Ed Vaizey, Minister for Culture, Communications and Creative Industries was given short shrift when he tried to interrupt. 'You have been elected to have a voice, I have a tiny opportunity to share mine', said Southworth.
Both speakers had to be restrained by chairman Andrew Neil. Vaizey, on the opposite end of the political spectrum to his fellow panellist Southworth, argued in defence of the Government. He stressed that the Coalition has done a lot to support small businesses. He failed, however, to give any decent examples.
Despite flickers of contention and moments of tension, all panellists agreed that social and political changes were needed for British entrepreneurs to regain their once proud position as world leaders in technology.