It's definitely a stereotype, BUT considering that many East Asian cultures are
high-context, meaning that you have to be aware of unsaid social moors to be socially accepted, I find it highly doubtful that East Asians simply "lack social skills." The US (aside from the South) is fairly low-context, actually. I'm a direct, low-context "Westernized" communicator, and would definitely be shunned at traditional Asian shindigs. I'm very lucky that my family is very non-traditional and don't hold ourselves so strictly to cultural traditions.
If anything, I think it's expected of us to be the best in an already-existing system, not to break out and think BIG. Entrepreneurs who started young, like Jerry Yang and Tony Hsieh, are definitely the exceptions. No relatives I have were encouraged to think outside the box. The ones who did had to fight for it themselves.