Plugged In, Timed Out

The Wall Street Journal writes that Turkey has lots of potential, but has failed to turn this into a reality:

Turkey has Europe’s fifth-largest online population, after Russia, Germany, the U.K. and France.

Credit-card penetration is around 60%, 10% higher than the European average.

A quarter of Turkey’s 74 million people are less than 15 years old.

It hosts the second-largest Facebook population in Europe after the U.K.

People in Turkey spend more time online than any other European nation except the U.K.

Last year e-commerce volumes grew by 50%.

But:

Turkey attracted 0.06 the amount of venture capital per capita compared with the rest of Europe.

Startups are beginning to fail, in itself not a bad thing as they are winnowed, but Turkish expats who have returned to Turkey in a reverse brain drain over the past few years may leave again or think twice about returning, given recent events from the violent crackdown on the Gezi protests to PM Erdogan’s uncompromising interference in the private lives of citizens.

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