At the St. Gallen Symposium, William Saito was interviewed on the effect of financial turmoil on start-ups. Saito enjoys attending these symposiums and offering his insight. He is a successful entrepreneur with tons of experience with start-ups. Saito gave both positive and negative effects and described what the business people could do. A straightforward negative impact is the unavailability of capital. Start-ups need funds, but a financial crisis would hinder this access. Most loan facilities find it risky to lend start-ups in case they fail.
Despite this challenge, Saito is keen to point out that most current successful companies were started in a financial turmoil. These difficulties teach the company how to be financially responsible. After the company stabilizes, it is destined to grow even further because the management has financial responsibility
Eastern and Western countries perceive failure differently but eventually, find a way around it. Eastern countries such as Japan view failure as not an option. A start-up ought to be successful. Western countries such as the USA view it as a stepping stone and learn lessons. In both cases, these people do not give up but strive for success.
William Saito is a brilliant individual who realized his passion when he was a young boy. His parents purchased a computer, and he remembers being excited. He developed an interest in computers and technology. Saito learned to a programme and finally managed to develop his software before he graduated college. Despite this major achievement, Saito did not publicize the software to his friends.
After a childhood and young adult life with numerous experiences, Saito became an entrepreneur. Sony acquired his pioneer software after Saito worked with the company. Sony needed the software to develop a product that utilized biometric data. After brainstorming Sony decided to invest in fingerprint recognition.
Since his early days in school, William Saito has exhibited high intelligence quotient. In his book, Saito describes himself as a geek. He was not socially confident and famous, but he managed to interact with peers. Due to his brilliant mind, Saito completed high school earlier than the rest. He joined college to pursue a pre-medical degree. That is how Saito immersed himself in programming and created I/O Software.
William Saito’s support for start-ups is to empower and motivate young people to venture into business. Saito mentors anyone interested in his field of technology. He is glad to guide people and advise them from making common mistakes among business people.