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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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