Earlier quoted context omitted.
There are 11 currencies in the European Union.
not any more - there are few sensible hold outs
Sorry, I'm not sure what you mean?
https://en.wikipedia.org/wiki/Currencies_of_the_European_Uni...
Why Is Europe Failing to Create More $1B Startups?
261–270 of 338 posts
Re: Why Is Europe Failing to Create More $1B Startups?
#262A more interesting question is: 'Are unicorns good for the economy and good for society'?
Of course they are. Dramatically so.
Are: eBay, Amazon, Google, Facebook, Uber, Priceline, Expedia, SpaceX, Tesla, PayPal, FirstSolar, GoPro, Salesforce, Workday, FireEye, Splunk, Netflix, Yahoo, Twitter, DropBox, Palantir, Pandora, etc. good for the US?
They were all the equivalent of small unicorns once. So the question is: as opposed to what? All of those companies existing somewhere else, and most of the benefits going to other nations instead (jobs, taxes, investment, innovation)?
Re: Why Is Europe Failing to Create More $1B Startups?
#263Earlier quoted context omitted.
Plus I don't think location really matters that much; startups don't need an environment with thousands of hip enterpreneurs, all it takes is a small team with a good idea.
London actually has no "startup scene", the dirty little secret is there is no silicon in Silicon Roundabout. Lots of ad brokers, social media strategists, hairdressers and bakers with Twitter accounts, but no actual tech is developed there.
That is a lie that the Register likes. There is actually lots if real tech. Perhaps less actual silicon than Cambridge but lots of tech. Some decent exits in real techn prove it.
Re: Why Is Europe Failing to Create More $1B Startups?
#264The University system certainly has something to do with it. Compare the startups from those who've graduated at Stanford/Harvard [1] with Cambridge [2]
[1]: http://minimaxir.com/2013/07/alma-mater-data/
[2]: http://www.theguardian.com/technology/2013/dec/01/cambridge-...
Re: Why Is Europe Failing to Create More $1B Startups?
#265Earlier quoted context omitted.
>The major two exceptions are New York and Texas in that order. Umm. Boston(MA)?
Boston is a second-tier startup city along with Pittsburgh, Chicago, Seattle, etc. It's too expensive, it's hard to recruit good talent (too cold, too far from everywhere, etc), and there's not a ton of VC. You can do it, but you'll have an easier time of it in NYC or Texas. Texas has a warm climate, cheap housing and low taxes, which draws a lot of startups there. Raising money can be a problem, but you also don't n…
Subjectively, Boston feels like it has more startup activity than Austin to me, as someone that moved down here for cost-of-living reasons.
Re: Why Is Europe Failing to Create More $1B Startups?
#266Earlier quoted context omitted.
IMO the EU is too protective of its economy to allow the kind of innovation Silicon Valley is famous for. The EU has a default assumption of "you have to prove that this will not be harmful before you can do it" where the US has a default assumption of "someone else has to prove that this will be harmful before we will stop you". The important part is that this burden of proof in the US is not placed on a company at…
> In the US, you can do whatever you want as long as it's not explicitly illegal. That feels wrong. Maybe it's just a distorted picture I get from outside the US. https://news.ycombinator.com/item?id=3171665 http://www.forbes.com/sites/erikkain/2011/08/03/the-inexplic...
I'm not sure whether the U.S. actually has less regulation or it's just a matter of the fact that most regulations that affect small businesses are handled at the state level, and the states are pretty lax about enforcement.
Re: Why Is Europe Failing to Create More $1B Startups?
#267Earlier quoted context omitted.
"and you can't sign away most of your rights if necessary for company survival. " I don't believe for a second that someone signing away their rights is necessary for company survival. Maybe you as a company leader need to do a better job so you don't come to that point, and if you have, then maybe you aren't fit to run a company.
This doesn't have anything to do with my preferences; frankly I am disgusted by it, but it's a common practice in the US to sign away the rights if you want to get funded by many VCs. So those VCs obviously prefer US as they can't (if "necessary") do the same shady moves in Europe (yet).
What rights do I sign away when I bring in VC as investors? I've never seen this as "common practice" here in the states so I'm genuinely baffled. The most aggressive thing I've seen them is to demand a part in future rounds via prorata rights.
Re: Why Is Europe Failing to Create More $1B Startups?
#268I think asking this question without addressing the overall cost/benefit to society is not very productive. The overall goal, I think, is to allow startups to grow and thrive while at the same time being a net plus for society. I would argue that "ask for permission later" mentality of some US based startups is a net minus to society overall. While I don't have any love for the taxi industry the regulations around cars for hire were put in place for consumer protection. These are some of the same regulations Uber is currently trying to get around (surge pricing in particular). Similarly, while I don't have any love for the hotel industry the regulations around short term housing exist to allow ample housing supply for long term residents of that city.
While inconvenient for the entrepreneur/investor/1%class most regulations exist for the common good of society. If a startup can prove that the regulation is outdated and doesn't make sense in the context of a new technology they should be able to convince the regulators that the regulation needs to be adjusted.
Re: Why Is Europe Failing to Create More $1B Startups?
#269Earlier quoted context omitted.
> we don't care if the tech sector concentrates in California or Texas or wherever as long as it is in the US Hmmm... I'm not sure that's true. For some definition of "we", it would be tautologically true, I guess. Many states complain about paying more in taxes than they get back in spending. California, Texas, and New York all pay more in taxes than they get back in spending, though Delaware takes the biggest hit,…
IMO the EU is too protective of its economy to allow the kind of innovation Silicon Valley is famous for. The EU has a default assumption of "you have to prove that this will not be harmful before you can do it" where the US has a default assumption of "someone else has to prove that this will be harmful before we will stop you". The important part is that this burden of proof in the US is not placed on a company at…
> Something like Uber could never have come out of Europe.
Re: Why Is Europe Failing to Create More $1B Startups?
#270Earlier quoted context omitted.
> In the US, you can do whatever you want as long as it's not explicitly illegal. That feels wrong. Maybe it's just a distorted picture I get from outside the US. https://news.ycombinator.com/item?id=3171665 http://www.forbes.com/sites/erikkain/2011/08/03/the-inexplic...
I'm not sure whether the U.S. actually has less regulation or it's just a matter of the fact that most regulations that affect small businesses are handled at the state level, and the states are pretty lax about enforcement.
A very good point.