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