
23 segments available
Our final segment from the road in the U.K. features two well-known investors and entrepreneurs in the London tech world: Seedcamp co-founder Reshma Sahoni and Shakil Khan (known to all simply as Shak), the founder of CoinDesk and an early investor in Spotify where he also headed up special projects. Reshma and Shak break down the venture scene in London, and describe the particular way the best companies scale in Europe ... it's not what you are probably thinking. Finally, they brag about some European startups we should all be paying attention to.
In this segment, we are introduced to Reshma Sahoni, co-founder of Seedcamp, and Shakil Khan, a prominent figure in London's tech scene. They discuss their roles in the investment landscape and how Seedcamp aims to be the go-to fund for first-time European founders. Their insights set the stage for a deeper exploration of London's unique position in the tech world.
"welcome to the a 16z podcast I'm Michel Copeland and we are still in London and we were lucky to have with us two of London's most interesting and dynamic entrepreneurs and investors Reshma Suhani fou..."
Shak discusses the essential elements that have contributed to London's growth as a tech hub over the past five years. He highlights the importance of supportive policies, emerging talent from universities, and the influx of international capital. This segment emphasizes the need for a strong foundational ecosystem to foster innovation and entrepreneurship in London.
"of discussion about london as a tech center what pieces are in place and you know what can lend them become that's unique to itself as opposed to trying to emulate Silicon Valley yeah I mean I think y..."
In this segment, Shak addresses the lack of significant exits in the UK tech scene, which hinders the flow of capital back into the ecosystem. He uses the example of MoneySuperMarket to illustrate the challenges faced by successful entrepreneurs in the UK, emphasizing the need for more generational entrepreneurs to create a sustainable cycle of investment and innovation.
"Schaech what else is missing I think Krishna's final point there is very very relevant to encourage entrepreneurs that seed capital has to come from somewhere and at the moment when I look around a lo..."
Reshma and Shak compare the entrepreneurial landscapes of London and Silicon Valley, noting that London is still a decade behind in terms of generational entrepreneurs. They discuss the unique challenges and opportunities that London faces, including the influence of its financial sector and the need for a more integrated tech investment community.
"never heard of Simon Nixon since apart from last week when I came across a boutique website advertising five different villas in the countryside and apparently the assignment nixon's homes which he re..."
This segment explores the influx of talent from across Europe to London, driven by its status as a financial center. Reshma and Shak discuss the challenges posed by visa regulations and living costs, and how these factors affect the ability of international talent to contribute to London's tech ecosystem.
"or so behind I mean I have to say it's not you know London is the world's largest financial center who kind of bounces back and forth between London and New York and just speaking of New York then it'..."
Reshma highlights the geographic and funding barriers that hinder scalability for European entrepreneurs. She discusses how these barriers impact the ability to build solutions that can compete on a global scale, emphasizing the need for a more unified venture capital landscape across Europe.
"coming over I think the London Financial Center versus tech are two separate things apart from where thin tech is involved they seem like two very different industries unlike Wall Street where a lot o..."
In this segment, Shak discusses how European startups, particularly from smaller markets, are built with a global mindset from the outset. He contrasts this with American companies that often focus on domestic markets first, highlighting the advantages that European entrepreneurs have in thinking internationally from day one.
"there is that sort of sense of being able to to solve kind of variety of problems and dealing with those problems are promised solved differently here and and or regionally for that matter like do you..."
Reshma and Shak discuss the shift in strategy among UK entrepreneurs, who are now more inclined to launch in multiple major cities simultaneously rather than starting locally. This segment highlights the changing dynamics of startup expansion in Europe, emphasizing urban centers as key markets for growth.
"far more cultural inputs than a couple in those states would be UK has probably been the last and machers out of European countries Germany and UK are pretty big populations in their own and I go back..."
The discussion turns to the challenges U.S. companies face when entering the European market. Reshma and Shak highlight the misconception that being based in London is sufficient for tackling the entire European landscape, stressing the need for localized strategies in different cities.
"revolution right so we're not seeing such biases that we saw a generation ago and if you see look at the marketplace businesses it's actually no longer about country yeah it's cities right which citie..."
Reshma and Shak delve into the complexities of operating in Europe, including labor laws and cultural differences. They point out that U.S. companies often underestimate these nuances, which can hinder their expansion efforts across the continent.
"users kind of of a same type is it is it the city that's the defining characteristic and the density and kind of urban lifestyle as opposed to the region I would think so I mean when we when our compa..."
The segment discusses the urgency for European startups to expand quickly to avoid being outpaced by competitors like Uber. Reshma and Shak reflect on the lessons learned from past exits and the necessity for entrepreneurs to secure sufficient capital for aggressive growth.
"need to go international so let's put our office in London and let's send Peter or Lucy who went to Stanford and did a semester in Paris because there aren't lived there and you can go Europe and you ..."
Shak shares his unexpected journey into investing, recounting how he invested in Spotify at an early stage. He reflects on the risks he took and the passion he saw in Daniel Ek, emphasizing the importance of belief in an entrepreneur's vision.
"of halo which is a brilliant service I use it all the time but my crazy halo is is a version of what well it's a transportation thing I know that it's they branched out a bit more but you know yeah yo..."
Reshma discusses the evolving characteristics of early-stage entrepreneurs in Europe. She notes the significant improvement in commercial awareness and product focus among founders compared to a decade ago, highlighting the influence of global knowledge and role models.
"them going hey we've done London let's go tackle USA I would have done Paris Munich yeah Berlin Copenhagen Sweden you suddenly have a huge network you have a huge brand and you have a solid company ha..."
Shak Khan shares his unexpected journey into investing, recounting how he supported a passionate entrepreneur with a bold idea for the music industry. He reflects on the risks he took and the mindset that led him to invest over half a million dollars without prior knowledge of investment metrics, emphasizing the importance of passion and belief in an entrepreneur's vision.
"young individual who walks into the record labels again hey I have a solution for your declining revenue and this is what's I said give all the music away free of charge and I remember when he'd get p..."
Reshma Sahoni discusses the changing characteristics of entrepreneurs in Europe, contrasting them with the Silicon Valley archetype. She highlights the growing commercial awareness among founders, the influence of accessible knowledge through podcasts, and the shift towards ambitious, execution-focused thinking in the European startup ecosystem.
"why not do it and so really I'm the accidental investor I had zero desire to be in the investment world Wow in in Mexico we call that cojones so I wanted to sort of describe what the entrepreneur that..."
Shak Khan reflects on the cultural stigma surrounding failure in the UK compared to the US, sharing personal anecdotes about the perception of bankruptcy. He discusses how societal attitudes are evolving, particularly in light of economic pressures, and how this shift is encouraging more individuals to pursue entrepreneurship as a viable path.
"kind of lack of that it's changed dramatically for the for the founders we're backing today I mean just so much more astute everyone's reading the same thing you're exposed to podcasts like this and a..."
The conversation shifts to the impact of policy on entrepreneurship in Europe. Shak and Reshma explore how safety nets and welfare systems influence the entrepreneurial spirit, discussing the need for policy changes to foster a more supportive environment for startups amidst economic challenges.
"career path whatever that would have been whether it'd been in traditional banking or whatever who knows what would have happened but the country has never been as entrepreneurial as the USA has and t..."
Reshma Sahoni addresses the ongoing challenges faced by women in entrepreneurship and technology. She emphasizes the need for more female venture capitalists and role models, discussing the slow progress in increasing female representation in leadership positions and the importance of creating supportive ecosystems for women entrepreneurs.
"oh wow bankrupt and reshma you've been here long enough to I think realize there is that stigma about faith and I think maybe actually the chat it's a really good point I think the challenges were see..."
Shak Khan and Reshma Sahoni discuss the importance of diversity in the tech industry, sharing their experiences as non-white entrepreneurs in London. They highlight the need for more female investors and the role of government policies in promoting diversity, while acknowledging the progress being made in creating a more inclusive environment.
"out to pay for silly mistakes that were done by institutions etc etc so is it is it policy that needs change and I think it's a combination of everything hey it's just time right the world changes and..."
The segment focuses on the infrastructure challenges faced by female entrepreneurs in the UK, particularly regarding childcare and work-life balance. Reshma discusses the need for systemic changes to support women in leadership roles, drawing comparisons with more progressive policies in countries like Sweden that encourage female participation in the workforce.
"you start to see talent leave here hopefully exit have a bit of wealth they will start to create funds and they will become angel investors and so forth so I think that'll help I think you know role m..."
Reshma and Shak highlight exciting UK startups, particularly in the FinTech and property tech sectors. They discuss Property Partner, a company revolutionizing real estate investment through crowdfunding, and its recent success in selling properties quickly, showcasing the potential of UK startups in the global market.
"well we're really excited and we've been an incredibly active investor obviously in FinTech but property tech as of as of late as well and and to Shaq's point from before you know we do think UK start..."
Shak shares insights on GetYourGuide, a Berlin-based company that has attracted significant investment and aims for global expansion. The discussion focuses on the challenges and opportunities for European startups to compete on a global scale, emphasizing the importance of execution and vision.
"can see that playing well in San Francisco Shack so it's not a portfolio company or mine it's a company out of Germany Berlin company called get your guide there just announced million dollars raised ..."
The segment concludes with a discussion on TransferWise, a company addressing the high costs of remittances for individuals sending money internationally. Reshma and Shak express optimism about its potential to become one of Europe's largest companies, highlighting the impact of American investment and the global relevance of its services.
"they're a portfolio company yours and I'm believe they're a seed coming I can't sing the praises high enough and you know had I had the chance I don't know whether I actually did or not I've probably ..."