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Subject: Re: UKNM: Wimps?
From: Stefan Magdalinski
Date: Mon, 26 Oct 1998 14:45:36 GMT

Sean Phelan wrote:
> >
> >-- in case anyone feels childish enough to have a pop at me for working for
> >a US owned company, please don't bother. we know you know. well done --
> Hm; I thought inward direct investment was a Good Thing? And if you want to
> see it as Us/Them rather than a vibrant global market, remember that what is
> happening in the cases you describe is that US money is spent employing Brits
> creating content and providing services for Brits and for export to the world.
> Surely these are all Good Things, and especially for the founders of firms
> like Sunbather that (presumably) receive an enormous premium on their equity.

err. yeah. I'm sure they did. I expect most of the employees became
options millionaires as well.

But wouldn't it be nice, if just for once, we could build something
homegrown and keep it, or even *export* something over there? I
congratulate the Sunbathers on the fine work they've done, and hope they
get the support and recognition they deserve. But I still feel sad that
the only exit strategy for UK companies is to bash your head against the
wall for a few years and then get bought out by a US company who can do
so, not because they're more talented, better managed, or better at
business, but basically they started (possibly at the same time, if not
later) in a place where people believe in what we build and are willing
to invest in it, in more than a pocket change way, and so have big wads
of 'valuable' paper with which to buy us all up.

> Having said that, I have just got back from yesterday's Red Herring workshop
> in Boston (out Saturday night; back Sunday night and straight in to the
> office; insane? ) and I have to say that the availability of really high
> quality expertise and advice, funding options, exit strategies and general
> understanding of the commercial underpinnings of the internet phenomenom
> were way beyond what I find here in London. These also help, perhaps just
> as much as the availability of relatively cheap funding.

I do believe you have taken the hammer and bashed in the nail's face.


  Re: UKNM: Wimps?, Siobhan McVeigh
  Re: UKNM: Wimps?, Phil Gyford

  Re: UKNM: Wimps?, Sean Phelan

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