Richard Branson on British Education v Entrepreneurship

From the Guardian (UK) Wikileaks website:

10. (C) Brown's party included 30 high-ranking business people, as well as 250-300 other representatives from British businesses, who met with Chinese counterparts. Approximately 30 Chinese and British entrepreneurs, including British billionaire Richard Branson met at a lunch devoted to "What Makes a Good Entrepreneur?" The Chinese participants criticized British entrepreneurs as being "overeducated, too conservative, lacking passion for entrepreneurship and too afraid of failure." Branson agreed that British entrepreneurs are overeducated and that schooling does not prepare one for entering the business world. The Chinese also criticized their own system as inadequate to prepare people for entrepreneurship.