The Monocle Minute

Not many people gave Monocle much of a chance when it started. A print-first publication promising thoughtful, independent journalism in an era of plummeting advertising and waning attention spans? Fat chance. Luckily, the doomsters and naysayers were wrong and, 17 years on, we still mean business. And as the tides turned, we pivoted and shifted. When rents were low after the 2008 financial crisis, we opened our first shop; when everyone else was shovelling cash into their ill-fated iPad version, we took our time and launched a radio station, banking on audio.

The lesson? Sometimes, spotting an opportunity means defying the so-called wisdom of the crowd, bobbing when others weave and keeping your head when all around you are losing theirs. In this sense, entrepreneurship, taking chances and scouring the horizon for what’s next are part of the warp and weft of the Monocle story. Perhaps it’s also why our annual magazine about the subject – out this Thursday – is so close to our hearts.

In the new issue of The Monocle Entrepreneurs, we identify the start-up neighbourhoods in which to put down roots in Kuala Lumpur, Copenhagen and Seattle, conduct big interviews with top CEOs and ponder the curious disappearance of the business breakfast.

Expect inspiring case studies too, from the couple in Sri Lanka constructing a budding business in sustainable bamboo to a New York firm rethinking throwaway packaging and the tale of a late-in-life entrepreneur who needed to retire to find time to start a business of his own. It goes to show that it’s never too late to take a risk.

While entrepreneurs tend to have certain traits in common – a dash of courage, optimism and tenacity – the humbler ones will admit that success sometimes stems from being in the right place at the right time. That’s why the issue contains a special survey on all that’s happening in Austria. We think that the nation deserves special attention, especially if you want to start up somewhere with an enviable quality of life and find a better balance between work and play. Spoiler alert: it’s not Silicon Valley. But perhaps that’s exactly what you’ll like about it.

The final thing that Monocle has learned about running a business? Don’t get too comfortable with the way things are. As the world turns, things change and it’s bound to surprise you. So, wherever you are in your entrepreneurial journey – yes, even if that business idea is just an aspiration for now – we have a magazine packed with experience, advice and ideas to inspire you along the way. So, forget the sourpusses and the cynics saying that your next venture doesn’t have legs. Now might be just the moment to take that first step.

Josh Fehnert is Monocle’s editor. ‘The Monocle Entrepreneurs’ is out this Thursday online and on all good newsstands. Subscribe so you never miss an issue.

The G20 summit opens in Rio de Janeiro today, with leaders from 19 member countries in attendance, alongside representatives from the EU and the African Union. Brazil’s president, Luiz Inácio Lula da Silva, will open the summit with a speech that is expected to highlight the dangers of climate change, as well as threats to multilateral institutions such as the G20. Another subject that is sure to be pored over is Donald Trump’s recent US election victory.

The summit will be one of Joe Biden’s last appearances as US president on the world stage. He will likely seek to assuage the concerns of Washington’s allies about Donald Trump’s “America First” foreign-policy platform. For Lula, a crucial question is how Trump’s return might embolden supporters of his rival, Jair Bolsonaro – one of whom attacked the Supreme Court in Brasilia last week, ahead of a verdict on whether the former president can stand for re-election in 2026.

Authorities in Tokyo’s Shibuya ward have once again cancelled the area’s New Year’s Eve celebrations, which had a peak pre-pandemic attendance of 120,000 people. The announcement, which comes soon after the same body forbade Halloween celebrations, marks the fifth year in a row that the event has been called off. New Year’s Eve in Shibuya had become a significant draw for tourists but, given the ward’s crackdown on public alcohol consumption over the course of this year, the decision wasn’t a surprising one.

It comes amid heated debates in Japan about the effects of the country’s recent tourism boom. The reason given for the move is complaints made by local business owners and residents over issues with noise, littering and drunken behaviour, allegedly by tourists. Expect the debate to continue as the busy Christmas season brings millions to Japan’s capital. Though some people and businesses are starting to bridle at the deluge, most still offer a warm welcome to visitors from abroad.

New York is reviving plans for a congestion charge in Manhattan that will be the first of its kind for a US city. Under the scheme, which is set to launch on 5 January, motorists entering the borough at or below 60th Street will have to pay a daytime toll of $9 (€8.55). An initially proposed $15 (€14.24) charge, which had been slated to start on 30 June, was scrapped following a backlash from some commuters and businesses.

Kathy Hochul, New York’s Democratic governor, announced the revised plan shortly after the US general election. It is expected to raise $15bn (€14.2bn) for the city’s beleaguered Metropolitan Transportation Authority – funds that will help to pay for vital repairs and updates to the struggling network. New York has the most extensive public-transport provision of any US city and more than half of its households don’t own a car. But traffic remains a chronic problem, especially in Downtown Manhattan. The city’s authorities hope that the new road tax will nudge more New Yorkers onto buses, trains and bicycles. However, the plan’s fate is by no means clear, especially since one of its biggest critics – Donald Trump – will be in the Oval Office come January.

Barcelona’s creatives are flocking to neighbouring cities where culture is being put front and centre Over the past decade, the city of L’Hospitalet de Llobregat, southwest of Barcelona, has made a concerted effort to lure creatives to its Cultural District, hoping to revive its economy. The plan seems to be working: some 500 cultural entities (and superstar singer Rosalía) have already decided to move in. The former manufacturing hub is one of Europe’s most densely populated places but its spacious industrial buildings and low rents are proving attractive to art galleries, architecture practices, dance studios and more.

The Can Trinxet textile factory is a case in point. Built in 1890, the building had been empty for decades, a vestige of Catalonia’s industrial heyday when people from across Spain would come to the region for work. Barcelona-based architecture studio Self Office has given it a new lease of life. Now sporting a restored roof and freshly painted white walls, the property is playing host to an installation during the Manifesta Nomadic Biennial, an art and culture festival running throughout the autumn. The hope is that the arrival of Manifesta and figures such as Rosalía will create a richer cultural landscape that supports newcomers and long-term residents alike.

We flick through culinary magazines and newspapers for an episode entirely dedicated to food in print. First up, we speak to Joseph de Klee, founder of The Pass, a paper highlighting the best of London’s gastronomic scene. Then: we’re heading to Finland to meet the editor in chief of one of the country’s most popular food magazines, Glorian ruoka & vilni. Plus: Fernando Augusto Pacheco, host of The Stack on Monocle Radio, picks out the best in food publishing from around the world.

To hear the full episode, tune in to‘The Menu’on Monocle Radio. And for more culinary insights in print, check out ourNovember issue. Or better yet,subscribeso that you never miss a beat.