Hype: Marker and maker of entrepreneurial culture

This article extends existing scholarship that views hype primarily as an individual entrepreneurial storytelling strategy for generating excitement about a venture's future. We argue that hype also functions as a cultural marker, distinguishing entrepreneurial modes of communication and behavior from those of traditional corporate culture. By tracing the conceptual history of hype, we demonstrate that the term and its associated practices (a.) originated in early-twentieth-century criminal subcultures to distinguish them from respectable culture, (b.) was subsequently adopted by mid-twentieth-century countercultures to distinguish themselves from mainstream culture, and (c.) ultimately became a marker used by late twentieth-century startup culture to distinguish itself from corporate culture. Understanding these historical roots, we contend, illuminates key characteristics of contemporary Western startup culture: the valorization of revolutionary futures, the celebration of rule-breaking, and the embrace of social deviance as a hallmark of entrepreneurial authenticity. By historicizing hype in this manner, we can better appreciate both its “destructive” and “productive” dimensions and explore alternative modes of communication that are prevalent in other entrepreneurial contexts. •We shift from a strategic perspective on hype to an institutional one, asking how hype came to be considered legitimate.•Conceptual history is introduced as a method for examining the evolution of hype and the broader culture of entrepreneurship.•We trace the evolution of hype as a concept associated with subculture, counterculture and finally entrepreneurial culture.•Using this history, we show how hype served to socially distinguish entrepreneurial culture from corporate culture.•Our analysis draws out the dark sides of hype's institutionalization in contemporary entrepreneurial culture.