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Some thoughts on the European Venture scene

Some thoughts on the European Venture scene. Web2Expo – Berlin October 22, 2008. Saul Klein saul@indexventures.com. 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”.

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Some thoughts on the European Venture scene

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  1. Some thoughts on the European Venture scene Web2Expo – BerlinOctober 22, 2008 Saul Kleinsaul@indexventures.com

  2. The weather looks pretty terrible right now

  3. No wonder Jason was getting depressed

  4. The Valley is seriously downbeat

  5. Though Dave McClure did shout out a “get over it”

  6. Fact is start ups are really tough

  7. You have no customers

  8. No money

  9. You and your team are fighting an imaginary war

  10. Armed just with some big ideas

  11. But hey, we’ve fallen from greater heights

  12. Some of the greats started in depressions VC Founded IPO

  13. Many major winners started during and after the last bubble Founded >> ? IPO VC

  14. Now the Internet is nearly 6x the size of 2001 Hosts

  15. How we spend our time online has shifted radically

  16. This shift will have big, long term repercussions

  17. We’re living in a new technical world order

  18. Firefox has 42% market share!!!

  19. We now have substantial shared “public” resources

  20. New platforms are changing infrastructure and distribution costs

  21. Free resources exist to support and educate start-ups 8 hubs 80+ cities

  22. Hamburg Boulder Helsinki Utrecht Paris Belgrade Leeds

  23. We will almost certainly face severe and sustained recessions - 61% YTD - 63% YTD - 49% YTD - 40% YTD - 62% YTD - 56% YTD

  24. But where the Internet is used has changed dramatically – its not just the US anymore

  25. There is still a lot of capital to invest in Europe

  26. Capital will look to back people who understand the new reality

  27. Angels will retreat

  28. Focus. Don’t panic.

  29. Focus. Don’t panic. Bootstrap Like Crazy.

  30. Focus. Don’t panic. Bootstrap Like Crazy. Make products people want.

  31. Focus. Don’t panic. Bootstrap Like Crazy. Make products people want. Get Paying Customers.

  32. Focus. Don’t panic. Bootstrap Like Crazy. Make products people want. Get Paying Customers. Cut costs. Get to break even

  33. Focus. Don’t panic. Bootstrap Like Crazy. Make products people want. Get Paying Customers. Cut costs. Get to break even Raise enough capital. Stay Strong.

  34. Whatever works for you use it. Good luck

  35. Appendix Some interesting data….

  36. Latest figures show European investment is going up

  37. Europe already had three $ bn investment hubs

  38. Why break-even and capital are important

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