European citizens don’t seem to care that much about the EU’s tight relationship with Saudi Arabia... Why should they feel differently about Iran?
48 karma · joined September 23, 2018
European citizens don’t seem to care that much about the EU’s tight relationship with Saudi Arabia... Why should they feel differently about Iran?
(I’ve hired and run large engineering offices in France and in the US).
The whole point of low salaries, for smart companies, is to be the one increasing them! Obviously that makes it a temporary advantage, as salaries start to increase... But all great advantages are temporary.
The people you are talking to, who like low salaries because they want to enjoy lower costs in perpetuity... that’s just mediocre thinking by mediocre companies.
What’s missing in France right now is an ecosystem of fast-growing mid-stage startups - series B and above. I think that’s caused by a combination of:
1) mindset (thinking globally from say one is easier said than done when nobody around you has done it before)
2) lack of late-stage funding. The seed money scene is not as bad as it used to be, and is in a virtuous cycle of early exits / successful entrepreneurs who want to give back. That is looking very good. However, the VCs still suck, with a few exceptions. They’re mostlt bankers, they’re risk-averse, ownership-greedy, and intrusive. Good luck growing a world-class business with them on your board and in your cap table.
3) The EU market is just weak conpared to US and China. So every european startup has to start outside their confort zone and attack foreign markets from day one... Which creates friction compared to growing at home for the first few years.
Here are factors that in my opinion are NOT to blame: taxes (comparable to California), salaries (yes they’re lower than in SV; that’s a good thing for startups), bureaucratic red tape (that’s what lawyers and accountabts are for, it’s not rocket science), lack of work ethic (in my experience French employees work very hard and are very loyal - although they do complain a lot), brain drain (sure French people leave the country. Plenty stay, or come back. It’s nothing like what third world countries have to deal with).
What I’m seeing more and more is French founders moving to SV, raising money there and keeping their engineers in France. Other international founders are doing the same. I think it’s the best available move at the moment.