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axtn

48 karma · joined September 23, 2018

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axtn··on Europe Finally Has an Excuse to Challenge the Dollar
> i don’t think any european citizen will understand why we prefer to start a judiciary war against the US just so that we can help a muslim theocracy broaden its influence in the middle east.

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?

axtn··on Startup Nation? Entrepreneurs Still Toil in Macron's France
I can confirm that you can fire people in France at a reasonable cost if you know what you’re doing and are focused on paying good money for great people. If you’re looking to build a large-scale sweatshop of low-skill workers with low pay and high turnover... then sure, France is not the place to do that. But if you’re a typical tech company not afraid to pay above market for top talent... cost of severance will not be an issue.

(I’ve hired and run large engineering offices in France and in the US).

axtn··on Startup Nation? Entrepreneurs Still Toil in Macron's France
Exactly. France has extremely strong engineering schools, and almost no software industry. You wouldn’t believe the talent being wasted in banking IT desks and consulting conpanies... Not only can a well-funded startup pay them better, the work is 10x more interesting. And unlike Silicon Valley engineers, French employees won’t ditch you after a year. Once they’re on board, they tend to stick around (sometimes even too long for their own good...)
axtn··on Startup Nation? Entrepreneurs Still Toil in Macron's France
They are a benefit... if you pay people above market! That allows you to attract top talent that otherwise would be locked in at Google etc.

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.

axtn··on Startup Nation? Entrepreneurs Still Toil in Macron's France
France has plenty of early stage startups, in fact the increase in size and quality in their ecosystem in just a few years has been very impressive.

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.

axtn··on Show HN: Plash – Build and run containers
Are there any plans to be backwards-compatible with Dockerfiles and ‘docker-build’?