Lorenzo Thione - Powerset - Stanford Engineering - Jan 9 2012
Lorenzo Thione Co-Founder, PowersetEuropean Entrepreneurship & Innovation (ME421) Stanford Engineering School http://me421.stanford.edu January 9 2012
A quick recap• Studies: Milan to UTexas Austin (2000)• FXPal and PARC (2003-2005)• Powerset (2005-2008)• Microsoft (2008-2010)• Broadway/Allegiance (2008 - ….)• StartOut & Startups• Something new
Powerset• First startup – so many lessons learned• Technology Play – High prod/tech risk• Capital Intensive – it was 2005! – $2M+$10.5M – VC Backed• Aggressive Growth – 72 people in 2008• PR Storm• Internal Issues – Board Management• Acquisition
Entrepreneurship• The extremely creative effort of taking an idea, a vision, and create the unique circumstances (team, money, deals/partnerships, audiences, market, messages, brand) around it to make it come true – Powerset – Allegiance – ….
xxxxxx• Ambitious Idea• Reasonably small chance of enormous impact• A-team• Iterative Product Development• Tough capital requirements• Partnerships/Deals• Requires Complex Management• Build a strong Consumer Brand
Allegiance• Ambitious Idea• Reasonably small chance of enormous impact• A-team• Iterative Product Development• Tough capital requirements• Partnerships/Deals• Requires Complex Management• Build a strong Consumer Brand
US vs Europe (Italy)• Culture (cult?) of riskC• Celebration and Value of Failures• Ecosystem for mutual help – Business karma• Flourishing exchange of ideas• Favorable business conditions
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