Re: UKNM: Wimps?

[Stefan Magdalinski]

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. 


<snip>

> 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.


stefan