>Work at a VC firm in Europe
>Have to sign an NDA firm
>Can't even tell parents what firm I work for
>Europe's venture capital markets collapsed last week
>Our firm COLLAPSED yesterday
>Zero liquid overnight
>Clause allows investors to pull out 4 years early
>Everyone loses their jobs :(
I lost my job today bro's, it didn't pay anything but I had never been this happy before. Europe's startup scene collapsed overnight and now everyone's flocking to Murica until the bubble bursts over there as well. Bloody hell guise.
I work at an IB and the forecast for even medium sized startups right now is really fucking bad, especially anything tech related
its not my specialty but all the guys in that dept I'm talking to are saying pull out now and cum before youre last one fucking her
not just a europe thing, the states is getting hit too. san fran is in big trouble right now. if your old firm has any respectability itn its name left use it on your resume and get yourself a job at a big corporation before the name is something you want to leave off entirely
Tiny in comparison to Silicon Valley, not anymore though. Entire private market in Europe has fallen to shite. It's absolutely mad lad! German fintech companies are getting killed for some reason, we think it's the stealth tax Merkel put on small biz to pay for their migrant policy..no idea though.
I'm serious. investors dont want that kind of risk right now and theyve figured out that the traditional startup valuation model was bullshit. theres too much volatility shitting on them from all over the place from the other major market swings that are happening.
I mean I'd still say move to the states if you want to. I'm in london now but I'm actively looking to transfer to the states as soon as my contracts allow and there's an opening in my division. it's a better place to live as long as you're at least upper middle class and work for somewhere that pays your health insurance
Does this surprise you ? European VC's are shit and were always shit. They tried to copy the VC's in Palo Alto and failed, they wanted to invest in the next jet.com/uber/airbnb/meerkat etc but instead decided to invest in fucking food startups. FOOD STARTUPS. All european VC's should just dissolve and rather invest their shareholders money in VC's in California. European VC'S are just to retarted to find the next airbnb or uber.
Well collapsed as in frozen, as in no VC is buying other VC's equity. The startups that are capital dependent, they went under because they couldn't raise new capital. We lost half of our valuation essentially overnight due to down rounds then investors pulled out.
They can't, their money is locked in for a 8, 10 - 15 period depending on what fund they chose. However we had a shite clause in their that basically said if our value lost 50% in one year, we would sell our equity and give them the option to cash out and take their losses. That's what they did.
Fuckkk, if I had taken 5 minutes to Google this.. damn.
Pando has some good data from the likes of Peter Thiel and Marc Andreessen. I wouldn't write it off too soon.
We don't have the network effect in Europe, you won't find an abundances of software engineers that artificially caps growth in a sense.
Europe's laws are retarded, so if started talking about their firm and they found out it was me - since I was pretty much their only intern with the exception of these two other women - I could be held liable. After they've dealt with everyone, I'll come back and talk about it freely and even the name.
So glad all these meme start ups that don't even produce anything are finally starting to collapse
I'm sick of all of them full of nu males and managed completely by feminist women
I'm sick of them always having a fucking dog in the office and everyone saying he's an "employee"
Sick of the company valued at hundreds of millions and it hasn't made a profit in three years.
Although in all seriousness there are startups that actually make cool products of real value. However in saying that if I saw one more "Snapchat for category XYZ" I would have probably thrown myself off the third floor.
My brother works for a startup and tells me about all the fun times they have and all the cool shit they buy. Very rarely tells me about the shit they make. They throw parties for everything.