I used to think Mark Zuckerberg’s achievement with Facebook was a fabulous inspiration to entrepreneurs everywhere. Now I’m not so sure.

I’m not referring to his alleged ethical failings, as highlighted in The Social Network. Rather, I am concerned that he sets an example of meteoric success that virtually no one else will ever be able to repeat. But wannabes are trying to copy him, and consequently squandering their careers on false hopes.

I have lost count of the number of business plans I’ve seen from “digital pioneers” who want to build the next Facebook or suchlike. They are full of extraordinary upward projections of income, mind-boggling growth assumptions, spectacular valuations and heroic demands from backers. I put them all in the shredder. As Samuel Johnson put it: Almost every man wastes part of his life in attempts to display qualities which he does not possess, and to gain applause which he cannot keep.”