Some thoughts on the European Venture scene Saul Klein [email_address] Web2Expo – Berlin October 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 IPO VC Some of the greats started in depressions
Founded IPO VC >> ? Many major winners started during and after the last bubble
Now the Internet is nearly 6x the size of 2001 Hosts
How we spend our time online has shifted radically
This shift will have big, long term repercussions 13 5 Mins/Visitor 583 125 Pages/Visitor 296 bn <ul><li>bn </li></ul>Page...
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%...
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
Raise enough capital. Stay Strong. Get Paying Customers.  Cut costs. Get to break even Bootstrap Like Crazy.  Focus.  Don’...
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
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Thoughts on European Start Ups

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  • Thoughts on European Start Ups

    1. 1. Some thoughts on the European Venture scene Saul Klein [email_address] Web2Expo – Berlin October 22, 2008
    2. 2. The weather looks pretty terrible right now
    3. 3. No wonder Jason was getting depressed
    4. 4. The Valley is seriously downbeat
    5. 5. Though Dave McClure did shout out a “get over it”
    6. 6. Fact is start ups are really tough
    7. 7. You have no customers
    8. 8. No money
    9. 9. You and your team are fighting an imaginary war
    10. 10. Armed just with some big ideas
    11. 11. But hey, we’ve fallen from greater heights
    12. 12. Founded IPO VC Some of the greats started in depressions
    13. 13. Founded IPO VC >> ? Many major winners started during and after the last bubble
    14. 14. Now the Internet is nearly 6x the size of 2001 Hosts
    15. 15. How we spend our time online has shifted radically
    16. 16. This shift will have big, long term repercussions 13 5 Mins/Visitor 583 125 Pages/Visitor 296 bn <ul><li>bn </li></ul>Page Views 141 bn 159 bn Minutes Social 14 Big 3
    17. 17. We’re living in a new technical world order
    18. 18. Firefox has 42% market share!!!
    19. 19. We now have substantial shared “public” resources
    20. 20. New platforms are changing infrastructure and distribution costs
    21. 21. Free resources exist to support and educate start-ups 8 hubs 80+ cities
    22. 22. Boulder Leeds Utrecht Helsinki Hamburg Paris Belgrade
    23. 23. We will almost certainly face severe and sustained recessions - 61% YTD - 63% YTD - 49% YTD - 40% YTD - 62% YTD - 56% YTD
    24. 24. But where the Internet is used has changed dramatically – its not just the US anymore
    25. 25. There is still a lot of capital to invest in Europe
    26. 26. Capital will look to back people who understand the new reality
    27. 27. Angels will retreat
    28. 28. 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.
    29. 29. Whatever works for you use it. Good luck
    30. 30. Appendix Some interesting data….
    31. 32. Latest figures show European investment is going up
    32. 33. Europe already had three $ bn investment hubs
    33. 34. Why break-even and capital are important
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