Entrepreneurship after Oil in MENA: 4 Hard Truths

When I was a kid, we were taught in school that oil would be drying up, and so would revenues from oil. At least they got one thing right: oil revenues are drying up, albeit for vastly different reasons. And those governments that used to rely on oil revenues for income are going to have to switch to the good old taxation systems. But taxation systems only work in economies that have a thriving private sector, since a governement that takes back money that it gave away in the first place can’t last very long. So the oil problem boils down to Read More …

Why Now Is The Time For The Middle East To Invest In Youth And Innovation

I am a big fan of Chappatte, the Lebanese-Swiss cartoonist who often draws for the New York Times. I find a lot of wisdom in his drawings. When I saw this recent comic above, I thought it illustrated a moonshot opportunity for the Middle East. Current oil prices have put all Arab countries on an equal footing: whether oil producing or not, they are “oil-poor” given current oil prices. The moonshot opportunity is to reach 30% of GDP coming from the digital economy in any Arab country within 10 years. Leaders in these countries should start this process today by Read More …