Fiascos always present new opportunities for entrepreneurs. The dotcom bubble — which happened exactly 20 years ago — killed off companies like Pets.com but strengthened the likes of Amazon and eBay. Airbnb, Spotify, Uber, Dropbox, Adyen, Evernote and more all grew out of the economic downturn of 2008 (as many a venture capitalist likes to mention).
Even smaller-scale crises have been catalysts for startups. In France, the Icelandic volcano eruption of 2010 and the more recent metro strikes fuelled the rise of alternate means of transportation, like carpooling platform BlaBlaCar and electric scooters.
This is an opportunity — it’s time for the tech sector to seize it.
Read More Now is the best time to launch a tech startup
We’ve already read about tons of startup layoffs. 1000 people at Yelp and another 1000 at Magic Leap, almost 1000 at Lyft, 45% of the workforce at Eventbrite, 30% at Bird. Layoffs Tracker has over 300 companies listed – including the likes of Houzz, Lending Club, MindBody, The Wing and more. Yet a majority of the companies mentioned are in the US, which is perhaps not surprising given that government support for furlough is not what it is in Europe.
In Europe, the perhaps most prominent startups to announce layoffs have been UK-based so far: Deliveroo, who cut staff by 15% this morning, or Monzo, who announced the closing of it’s 165-person office in Las Vegas, etc. That said, there are prominent startups in France (I’ll avoid mentioning names) that have had to downsize and yet there is absolutely no mention of it in the press. A few people mentioned a similar situation in other European countries (Germany and the Nordics, for example). So my question is: why?
Read More Are European Startups Avoiding the Topic of Downsizing?
I cannot believe I’m saying this, but my silly blog Techbaguette recently turned 10 years old. Now, that probably isn’t saying much, because I haven’t actually published anything on the site since December 2016. But it’s kind of crazy to look back and realize how much has changed since I bought this domain on Dec […]
Read More Techbaguette turns…10!
Let me start by saying, we’ve got big things to announce over here at STATION F. Seriously BIG THINGS.
Read More Startups worldwide can now apply to STATION F.
Disclaimer: I am (really) thrilled. I’d like to take this occasion to thank President Hollande, Minister Macron, the La French Tech team and the other people involved in today’s event at Elysée. It may not always seem like it – but it sends a very strong signal to not only the French ecosystem, but the […]
Read More France Opens Its Door to Foreign Entrepreneurs
Disclaimer: This post gets personal.
Read More Thank you, Microsoft.
Disclaimer: This article is my own personal opinion and is meant in no way to criticize or judge the startups or founders involved in #ReviensLéon. It is also in no way meant to discourage anyone who wishes to come back to France or to become a Léon from doing so. It is simply offering a […]
Read More #ReviensLéon : Let Them Live Abroad
France is not usually the first European country that comes to mind when it comes to investing in startups, especially since the arrival of socialist President Francois Hollande in 2012 and the ensuing Pigeon movement; France’s entrepreneurs revolted against government plans to double the capital gains tax to 60%. And of course, stories like the DailyMotion saga do not help. Still, France’s tech startups are not void of funding. In 2014, the top 10 investment deals amount to over €220 million. Furthermore, several French tech startups including Deezer, Blablacar andSigfox have announced $100 million rounds of funding in the last few years. So, if it’s such a bad place to invest, what exactly is going on?
Read More The Evolution of the French Investment Landscape
By now, just about everyone has heard of that Newsweek article that all the French are allegedly going nuts about. You know, the one that states that all the entrepreneurs are leaving France since Hollande took over as President because of the whopping 75% tax rate. You know, it’s that article that plays on that over-played joke that the French don’t have a word for “entrepreneur” and struggles to find a French equivalent for Bill Gates or Richard Branson. Yawn.
Read More No France, the problem is not Newsweek
As many of you know, I had the incredible honor of being invited to a lunch with the French President earlier this week alongside some of France’s biggest names in tech. That’s right, little American me was invited to discuss the state of the French ecosystem. If you’re thinking “huh?”, don’t worry, I was too 🙂 I was sat around the table with the likes of Jacques-Antoine Granjon (Vente-privée), Marc Simoncini (Meetic), Marie Ekeland (Elaia Partners), Fleur Pellerin (Minister of Digital Economy) and other people I beyond admire. Oh, right, and then there was the French President himself.
Read More Afterthoughts on Lunch with the French President