Meet Sven
He's a young 41-year old founder here in Europe
He only started his SaaS business 7 years ago, and he already has a paying user!
He just collected €40 from his first customer
But get this - he'll pay €22 VAT to the EU government, which will in turn use those funds to make Europe and even better business ecosystem
Incredible how fast talented people can win when the government and private sector are so closely aligned!
He's a young 41-year old founder here in Europe
He only started his SaaS business 7 years ago, and he already has a paying user!
He just collected €40 from his first customer
But get this - he'll pay €22 VAT to the EU government, which will in turn use those funds to make Europe and even better business ecosystem
Incredible how fast talented people can win when the government and private sector are so closely aligned!
Everyone complaining about European regulation simply doesn't understand
EU Regulators looked centuries ahead and saw 100 million futures play out
Then they regulated all of them to align the billion variables perfectly
You cannot begin to even comprehend their infinite wisdom
While regulators play 5D chess and see the universe as it will be a millennium from now, you sit and complain with blinders on, barely able to see 6 inches in front of you
Trust. The. Regulators.
They know best.
EU Regulators looked centuries ahead and saw 100 million futures play out
Then they regulated all of them to align the billion variables perfectly
You cannot begin to even comprehend their infinite wisdom
While regulators play 5D chess and see the universe as it will be a millennium from now, you sit and complain with blinders on, barely able to see 6 inches in front of you
Trust. The. Regulators.
They know best.
An ambitious founder called me
"We're growing fast, have a great team, and incredible product/market fit. Can I come by and pitch you?"
I paused.
"Did you obtain a Prospective Investor Meeting Permit from the EU Commission on Venture Investments?"
He stuttered.
"Well..I...I..."
"No thanks," I told him, abruptly hanging up.
Typical American founders, trying to circumvent well-established regulatory protocols.
Turns out, that company was Uber, and he called just 3 months after starting the business.
But I wouldn't do anything differently if I had the chance.
I'm glad I stuck to my principles.
"We're growing fast, have a great team, and incredible product/market fit. Can I come by and pitch you?"
I paused.
"Did you obtain a Prospective Investor Meeting Permit from the EU Commission on Venture Investments?"
He stuttered.
"Well..I...I..."
"No thanks," I told him, abruptly hanging up.
Typical American founders, trying to circumvent well-established regulatory protocols.
Turns out, that company was Uber, and he called just 3 months after starting the business.
But I wouldn't do anything differently if I had the chance.
I'm glad I stuck to my principles.
A European founder asked to meet up with me
His startup is only 7 years old but just hit €7,000 MRR
Incredibly fast growth
I applied for a meeting permit with the EU government to ask permission to meet him for coffee
5 months later, the EU government gave the go-ahead and charged a €75 VAT fee
We finally met up yesterday and had an insightful, yet quick 4 hour coffee chat during business hours
I decided to invest €15k into his business
Just got word that it's the 4th-largest venture investment in the EU this year
I expect he'll do great things and turn this startup into one of the EU's largest businesses
I could even imagine it breaking the €500k annual revenue mark someday (yes, it's a long shot, but it could happen)
Never been more excited to be building in the EU
His startup is only 7 years old but just hit €7,000 MRR
Incredibly fast growth
I applied for a meeting permit with the EU government to ask permission to meet him for coffee
5 months later, the EU government gave the go-ahead and charged a €75 VAT fee
We finally met up yesterday and had an insightful, yet quick 4 hour coffee chat during business hours
I decided to invest €15k into his business
Just got word that it's the 4th-largest venture investment in the EU this year
I expect he'll do great things and turn this startup into one of the EU's largest businesses
I could even imagine it breaking the €500k annual revenue mark someday (yes, it's a long shot, but it could happen)
Never been more excited to be building in the EU
Was at a startup networking event in Europe last night
The innovation and energy was off the charts
Just a few of the revolutionary ideas that were pitched:
"Uber but for the Estonia market"
"Airbnb but for locally-owned rentals in Italy"
"Google but GDPR-compliant"
The list goes on and on
You wouldn't see ideas this good at an American networking event
And yes, I did gain express consent and GDPR-compliant waivers to post these ideas publicly
Long Europe!
The innovation and energy was off the charts
Just a few of the revolutionary ideas that were pitched:
"Uber but for the Estonia market"
"Airbnb but for locally-owned rentals in Italy"
"Google but GDPR-compliant"
The list goes on and on
You wouldn't see ideas this good at an American networking event
And yes, I did gain express consent and GDPR-compliant waivers to post these ideas publicly
Long Europe!
Recently invested in an American startup
I was SHOCKED to see how reckless the founder was
Moved too fast
Worked 7 days a week
Didn't wait for regulatory compliance before creating new product features
None of this would fly in Europe
I politely told him that he needed to send my capital back in a GDPR-compliant manner
Last time I ever invest in American startups
I was SHOCKED to see how reckless the founder was
Moved too fast
Worked 7 days a week
Didn't wait for regulatory compliance before creating new product features
None of this would fly in Europe
I politely told him that he needed to send my capital back in a GDPR-compliant manner
Last time I ever invest in American startups
Just met with a young 42-year old European founder at a café
Before asking about my background, he handed over a 90 page GDPR-compliant Data Collection Document, which explained what he would do with the information about my background and how he would keep it safe
I signed it and got it notarized before answering his question
Yep, I am definitely going to invest in this kid (after getting proper approval, of course)
Before asking about my background, he handed over a 90 page GDPR-compliant Data Collection Document, which explained what he would do with the information about my background and how he would keep it safe
I signed it and got it notarized before answering his question
Yep, I am definitely going to invest in this kid (after getting proper approval, of course)
When attending a startup event in Europe, always offer a "verbal cookie" when collecting information from others
For example, if I plan to ask someone what their startup does, I need to give them the chance to accept a verbal cookie first to let them know I plan to collect personal information from them
Remember, GDPR isn't only on the internet. It applies in real life too.
For example, if I plan to ask someone what their startup does, I need to give them the chance to accept a verbal cookie first to let them know I plan to collect personal information from them
Remember, GDPR isn't only on the internet. It applies in real life too.
Meeting with a European founder
His business is brand new (started in 2016) and already has a half-dozen paying customers
Incredible growth
I ask him his MRR
"Sorry, but disclosing that information would violate GDPR," he tells me.
Brilliant response.
That question was a test - and he passed.
I immediately invested the statutory maximum of 20.000€ into his startup
With a lot of hustle and a little bit of luck, by 2050 my investment will hopefully be worth upwards of 35.000€
His business is brand new (started in 2016) and already has a half-dozen paying customers
Incredible growth
I ask him his MRR
"Sorry, but disclosing that information would violate GDPR," he tells me.
Brilliant response.
That question was a test - and he passed.
I immediately invested the statutory maximum of 20.000€ into his startup
With a lot of hustle and a little bit of luck, by 2050 my investment will hopefully be worth upwards of 35.000€
Just spent 3 weeks filling out 750 pages of compliance documents to make a 5.000€ angel investment into a tech startup
The American mind could never comprehend this
The American mind could never comprehend this