Thoughts on European Start Ups
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14-Sep-2014 -
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Transcript of Thoughts on European Start Ups
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Some thoughts on the European Venture scene
Saul [email protected]
Web2Expo – BerlinOctober 22, 2008
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The weather looks pretty terrible right now
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No wonder Jason was getting depressed
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The Valley is seriously downbeat
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Though Dave McClure did shout out a “get over it”
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Fact is start ups are really tough
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You have no customers
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No money
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You and your team are fighting an imaginary war
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Armed just with some big ideas
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But hey, we’ve fallen from greater heights
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Founded IPOVC
Some of the greats started in depressions
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FoundedIPO
VC >> ?
Many major winners started during and after the last bubble
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Now the Internet is nearly 6x the size of 2001Hosts
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How we spend our time online has shifted radically
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Big 3 Social 14
Minutes 159 bn 141 bnMins/Visitor 5 13Page Views 216 bn 296 bnPages/Visitor 125 583
This shift will have big, long term repercussions
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We’re living in a new technical world order
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Firefox has 42% market share!!!
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We now have substantial shared “public” resources
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New platforms are changing infrastructure and distribution costs
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Free resources exist to support and educate start-ups
8 hubs 80+ cities
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Boulder
Leeds
Utrecht
Helsinki Hamburg
Paris
Belgrade
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We will almost certainly face severe and sustained recessions
- 61% YTD
- 63% YTD
- 49% YTD
- 40% YTD
- 62% YTD
- 56% YTD
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But where the Internet is used has changed dramatically – its not just the US anymore
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There is still a lot of capital to invest in Europe
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Capital will look to back people who understand the new reality
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Angels will retreat
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Raise enough capital. Stay Strong.
Get Paying Customers.
Cut costs. Get to break even
Bootstrap Like Crazy.
Focus. Don’t panic.
Make products people want.
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Whatever works for you use it.
Good luck
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Appendix
Some interesting data….
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Latest figures show European investment is going up
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Europe already had three $ bn investment hubs
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Why break-even and capital are important