Ferrari owner Exor wants to build the Italian Y Combinator
1–10 of 143 posts
Re: Ferrari owner Exor wants to build the Italian Y Combinator
#2As Italian, when I read something involving Agnellis willing to do something for Italy, I am a bit scared about taxpayers money, like Fiat has always got tax discounts and subsidies and as a thank you has closed factories, and fired people, can we just keep the people related to Agnellis in the Silicon Valley?
Re: Ferrari owner Exor wants to build the Italian Y Combinator
#3If I did another startup in Europe, I would incorporate in Delaware and raise US money from the get go.
It's cool to see the YC terms borrowed directly, and hopefully that would be a shot across the bows of European investors. But to really give European founders leverage they need access to US valuations and terms.
I think semi-philanthropic incubators like these could really help by guiding founders to form US entities or reincorporate as early as possible.
Re: Ferrari owner Exor wants to build the Italian Y Combinator
#4If I did another startup in Europe, I would incorporate in Delaware and raise US money from the get go. It's cool to see the YC terms borrowed directly, and hopefully that would be a shot across the bows of European investors. But to really give European founders leverage they need access to US valuations and terms. I think semi-philanthropic incubators like these could really help by guiding founders to form US enti…
yeah and then go after European engineering talent, try to get best of both worlds.
Re: Ferrari owner Exor wants to build the Italian Y Combinator
#5Good luck with that, Italy and Italians are one of the most bureaucracy-obsessed country on the planet. You can think you own country has bureaucracy issues? Go check Italy, and it will be for sure worse. I mean, in 2022 AFAIK and still not every salaried person can have a default pre-compiled tax draft that they can just sign on the Internet and get approved. You have to go and compile it one from scratch (I think the situation is changing but still not everybody has this by default). Also there is this idea where you get by default a lot of taxes but that you can opt-in to many helps for various topics (like, improving your house energy efficiency) which will reduce your tax burden, over usually 5 or 10 years after you paid for it cash. There are small taxes and fees for everything, you had to pay an annual tax to validate your passport (which was obviously checked only when you left Italy, if you live abroad nobody even knows about it, so now they made it a big fee at passport renewal every 10years) and so on.
Source: an Italian living abroad, tired of bureaucracy .
Re: Ferrari owner Exor wants to build the Italian Y Combinator
#6As Italian, when I read something involving Agnellis willing to do something for Italy, I am a bit scared about taxpayers money, like Fiat has always got tax discounts and subsidies and as a thank you has closed factories, and fired people, can we just keep the people related to Agnellis in the Silicon Valley?
Off topic! I just moved to Italy, living in Torino now. How's the startup ecosystem in Italy? I've seen some interesting Blockchain-related groups at the Politecnico, but not much after that.
Re: Ferrari owner Exor wants to build the Italian Y Combinator
#7If I did another startup in Europe, I would incorporate in Delaware and raise US money from the get go. It's cool to see the YC terms borrowed directly, and hopefully that would be a shot across the bows of European investors. But to really give European founders leverage they need access to US valuations and terms. I think semi-philanthropic incubators like these could really help by guiding founders to form US enti…
Yes same, even if I don’t get into YC I’ll be trying to raise on US terms. I’ve seen some really stupid startups in Europe end up with crazy dilution to the point where if they thought about it they’d realise they just had a job working for some rich people. US valuations are twice the amount for half the equity from what I’ve seen so why I wouldn’t do that rather than be screwed over I don’t know…
Re: Ferrari owner Exor wants to build the Italian Y Combinator
#8Good luck with that, Italy and Italians are one of the most bureaucracy-obsessed country on the planet. You can think you own country has bureaucracy issues? Go check Italy, and it will be for sure worse. I mean, in 2022 AFAIK and still not every salaried person can have a default pre-compiled tax draft that they can just sign on the Internet and get approved. You have to go and compile it one from scratch (I think t…
> still not every salaried person can have a default pre-compiled tax draft that they can just sign on the Internet and get approved. You have to go and compile it one from scratch
This has changed several years ago.
> you had to pay an annual tax to validate your passport
Keyword being had. It's gone for like 10 years.
Re: Ferrari owner Exor wants to build the Italian Y Combinator
#9Good luck with that, Italy and Italians are one of the most bureaucracy-obsessed country on the planet. You can think you own country has bureaucracy issues? Go check Italy, and it will be for sure worse. I mean, in 2022 AFAIK and still not every salaried person can have a default pre-compiled tax draft that they can just sign on the Internet and get approved. You have to go and compile it one from scratch (I think t…
I guess you are not an Italian living in Germany then :-)
Re: Ferrari owner Exor wants to build the Italian Y Combinator
#10Good luck with that, Italy and Italians are one of the most bureaucracy-obsessed country on the planet. You can think you own country has bureaucracy issues? Go check Italy, and it will be for sure worse. I mean, in 2022 AFAIK and still not every salaried person can have a default pre-compiled tax draft that they can just sign on the Internet and get approved. You have to go and compile it one from scratch (I think t…
it seems like they are building it in the Netherlands