Prime Minister Malcolm Turnbull's claim that there has never been a more exciting time to be alive applies in spades to Australians in their twenties who are partying hard while learning the business skills needed to launch their own start-ups.
A confluence of forces means it has never been easier to become an entrepreneur and launch an Australian start-up that can take on the world. Rich Australians are ready and waiting to tap into the networks of start-ups operating inside accelerators such as Sydney's Fishburners. 
But who is out there teaching youth the inner workings of capitalism? Why are the bulk of start-ups being run by people aged between 25 and 35?
Before talking about a start-up that has just raised $1.1 million, Chanticleer wants to present the radical idea there is no better way to show raw Australian entrepreneurialism at work than through Sydney's thriving house party scene. Its success has parallels with the controversial ride-sharing company Uber because the parties operate on the boundaries of the law, rely heavily on social media and take business from established institutions.
While it is true that some parties have spun out of control because of too many people or too much noise, the vast majority are free of police intervention.
While the average baby boomer partied hard in their youth on the way to finding a job for life, generations X and Y are paying to party with friends ahead of a career that might have multiple iterations.
In some ways, a house party is a microcosm of economist Joseph Schumpeter's creative destruction. It begins life in a flurry of creativity including creating logos, working out themes, picking the musicians and agreeing on a venue.
The funding for the event is virtually a carbon copy of what would happen when taking a start-up from the seed stage to being fully funded. A typical house part will be launched on a private Facebook page with the offer of tickets at about $10 each several weeks before the event. The amount of tickets sold in the first round is never revealed in order to keep the customers guessing and create a sense of eagerness among those who missed out. The second round sees the ticket price jump to about $15 a head and the third round can be as high as $25. Usually the money raised is only enough to pay for the musicians, lighting, decorations and the bouncer. It is BYO.
House parties are not a creation of the 21st century. The first example was during the 1920s in the United States in New York. People renting apartments in Harlem staged "rent parties" which were ways of raising money to pay the rent.
They enjoyed a huge revival in the 1980s in Chicago with warehouse parties. In Australia the phenomena took off with the popularity of house and techno music.
In keeping with every disruptive aspect of modern business, house parties in Australia rely on social media for their success. The Facebook page can be set up so that only those people who are friends of the organisers can be invited.
Social media is the common thread that runs through any discussion about start-ups in Australia. It is not only a powerful force for spreading news of a business by word of mouth it can be the source of riches for those with the talent to attract a global audience.
Just as Facebook is the platform for so many successful house parties in Sydney, Instagram is becoming the conduit for the creation of thousands of small businesses comprising one person. Flick through the photo and video sharing website and you will find many people who are earning a living simply by showcasing their skills online.
Alexis Soulopoulos, the founder and chief executive of Sydney-based pet-sitting company Mad Paws, says Instagram has been critical to the success of his company.
Mad Paws has just raised $1.1 million in a funding round backed by leading business people including the head of retail banking at Commonwealth Bank of Australia, Matt Comyn. Other backers include Macdoch Ventures, which is run by Alisdair Macleod, a former News Corp executive.
Soulopoulos, 25, started the company after pet sitting for a friend who was struggling to find a place for his Labrador, Honey. That generous offer to his friend has been transformed into a business that now has 3500 pet sitters around Australia. Soulopoulos, who grew up in Belgium and came to Australia on a university scholarship, agrees Australia is a country that encourages start-ups.
He says there is a thriving community of young entrepreneurs in Sydney who are sharing information among each other. Also, funding is less of an issue than it once was because of the network of wealthy people willing to back new businesses. A shareholder in his company, Macdoch Ventures, includes on its board a "scout", Mike Robinson, who is constantly connecting entrepreneurs to investors.
Soulopoulos, who works out of the Fishburners co-working space in Ultimo, says that there is a strong entrepreneurial culture at the University of Sydney. Its leading lecturer in entrepreneurship, Massimo Garbuio, has gained a reputation for being the underlying force behind many successful start-ups. Every student in his courses must come up with a new business idea as part of their study.
Murray Hurps, who runs the Fishburner facility, says figures from his start-up muster survey of all Australia's start-ups reveal that the bulk of companies are created by people aged between 25 and 35.
Turnbull's message from his first speech must resonate with these young entrepreneurs. He said: "We have to recognise that the disruption that we see driven by technology, the change is our friend if we are agile and smart enough to take advantage of it. There has never been a more exciting time to be alive than today and there has never been a more exciting time to be an Australian."
Australia can be a clever nation and that might even be influenced, at least in part, by a generation of young people organising parties.
Twitter: @TonyBoydAFR
tony.boyd@afr.com.au