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San Francisco Forum - Your startup will fail going global, unless...

American Foundation - CENTRAL LYON / EMLYON
by

Ben Levy

on 11 October 2014

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Transcript of San Francisco Forum - Your startup will fail going global, unless...

Your Startup will fail
going Global, unless...
@BenLevy74
#BootstrapTalk
San Mateo Oct 11th, 2014
Don't Fuck up the culture!
What did Peter Thiel tell AirBnB founders after investing $150M and closing the Series C round?
Why is culture so important?
Culture is simply a shared way of doing something with passion.

Upholding your core values in everything you do a 1000 times, a 1000 things, every day

The stronger the culture, the less corporate process a company needs
"After 5 employees, the culture of your company is set!" Phil Libin
Understand, an appreciate, cultural differences!
Keep skin as white as possible
Upper class social status
Lounge in the sun to get tan
Upper class social status
Dark skin means you have to
be working in the sun...poor thing!
Tan skin means you have the
means to go on vacation...lucky thing!
Think
Big
I mean,
REALLY
Be curious, a constant learner
Put yourself in the shoes of others...
Observe and study people
Don't listen to what they tell you as much as what they do...and why they do it
2.5 yrs and $70M+
in value creation
From Budapest to Silicon Valley
190 Countries, 8 languages
~ 45M users
~ 250 people, 30 nationalities
Majority in Hungary
Profitable
Growing fast!
2013
2009
2010
2011
2012
Prezi join BootstrapLabs
Declines
Google
offer
Invest
$14M @ $70M
18M users, 2M new each month
20M+ users!
Estimated current valuation $500M+
2014
45M
users
Jack Dorsey
Advisor
5M users
Strategic
investor
Peter in
Silicon Valley
Strategic
partnerships for
thought leaderships
~ $ 200K to cash-flow positive!
Adding
1.5M - 2M/month
Global
expansion
Assemble a smart international team of people from the start with shared core value and vision

Solving big problem/pain that most people on the planet can relate to
Can attract talent, money, partners, customers with an awesome product
You are willing to continuously learn, adapt, improve

You are fullish enough to believe you can change the world

Your startup will fail to go global unless....
Assemble a smart international team of people from the start with shared core value and vision

Diversity of experience, culture, bias is a source of wealth that is hard to replicate
Solving big problem/pain that most people on the planet can relate to
You can (and should) travel to open your mind and understand differences
Which could take a while and a lot of money...
or you could hire foreigners :)
Go after big market
Find the lowest common denominator

Hint...
Can attract talent, money, partners, customers with an awesome product
BIG
The mission, vision matters
You are willing to continuously learn, adapt, improve, think scalability or simply do not give up
French, Swiss and soon American, married, two boys 6 & 4 yo

17yr in finance, technology and start-ups, 16yr in Silicon Valley, co-founder, founding team, employee

Raised $300M of Private Equity, advised on $5Bn worth of M&A deals, sold two early stage companies, crashed one
Co-Founder @ BootstrapLabs
@benlevy74
ben@bootstraplabs.com

You are fullish enough to believe you can change the world

40+ Countries
1,000+ Startup Referrals
300+ Jobs Created
$500M Equity Value Creation
Discover, Invest and Nurture Software Powered Innovation Globally
Global Technology Venture Investment Company for Global Entrepreneurs
Assemble a smart international team of people from the start with shared core value and vision

Solving big problem/pain that most people on the planet can relate to
Can attract talent, money, partners, customers with an awesome product
You are willing to continuously learn, adapt, improve

You are fullish enough to believe you can change the world
Your startup will fail to go global unless....
....And a 1,000 other reasons
So why all the excitement?
So much more for a lot less
$35
Fasten your seat belts
We use them for everything
We are (already) addicted
Mobile and Tablets will DWARF PCs
Ideas are not unique...
Why going Global?
Innovation has no borders
People, independently of their origins, races or
social classes have new ideas, create new products and sometimes entirely new industries
Gutenberg
Einstein
Tesla
Madame
Curie
Edison
Galileo
Italy
Germany
German/
USA
Croatia/
USA
Poland/
France
USA
Cai Lun
China
Papyrus
Egypt
Press
Korea
And so many more....
Today... We are all connected
Here are just a few..
7Bn cell phone users; 75% in "developing world"
Because today you can faster and cheaper than ever before....
So why going global?
And if you don't , your competitors will!
Rent vs. Own (SaaS, PaaS, XaaS)
Analyze, measure, track everything (free or cheap)
Instant, near infinite scalability is real and affordable
On-demand processing power & big data analytics
Global, low friction digital distribution platform
Biz models: freemium, subscription, purchase, ads
A (tech) startup's best friends
Affordable knowledge is everywhere
What used to cost $10M now costs less than $1M
Innovation is affordable and accessible to anyone
Everyone is a founder, life learner
#Global Phenomenon
Few
Masses
Power, knowledge, Wealth*
YESTERDAY
TODAY... & TOMORROW?
from different countries!
so Execution is Everything!
Innovation is brought to you
nearly instantly, from anywhere!
That was then...

Innovation could take years,
if not decades to reach you
Starting a new business is no longer a matter of capital
At BootstrapLabs, we usually see 2 or 3 startups chasing the same opportunity in a span of 3-6 months...
From Linear to Circular
The disruptive power of
the sharing economy
$18Bn
$10Bn
2008
2009
1997
$26Bn
$4Bn loans
$1Bn pledge
$580M loan
aka
The Clone Factory
* Some, newly created
Turned a $100Bn dollar industry into $100M
"Price is what you pay, value is what you get"

Warren Buffet
Lowest common denominator: language
Analog vs Digital
Race to 50M Users
From 40 years to 90 days
The disruptive power of
the "Makers" movement
The next 10 years will create 2x the changes of the past 10 years
Disruption is...
FASTER
Creating Lasting Value
The Valley is not as deep...
...as it used to be
New Lean
Startup Model
$30 billion in mobile
transactions
Instant global product launch
Must Read Book
2 Billion videos
watched daily
Distributed, on demand, personalised
production
Always Remember
Hardware / IoT Renaissance
Organize the world's information and make it universally accessible and useful
Give people the power to share and make the world more open and connected
"A startup does not die when it runs out of money,
it dies when the founders give up!"
Naval Ravikant
Founder of @AngelList
THANK YOU!
Failure = wiser and more likely to succeed now

vs.

Failure = you must be stupid & stay away from me it might be contagious
Talking about Culture in SV
Creating Global Impact
From 5 guys in Budapest, Hungary passionate about empowering knowledge and education to supporting Obama's ConnectED initiative in 5 years
Full transcript