I came across Saul Klein’s excellent presentation from the last Web 2.0 Expo in Berlin and thought I’d share it with you.
The main takeaways:
- Situation is grim: startups have no money, no clients and an imaginary war
- The valley is experiencing doom and gloom
- But startups are tough, and some of the greatest companies started in recessions (Skype, Facebook, YouTube, MySql)
- But there’s still lots of money to be invested in startups that understand the new reality.
- Angels will retreat.
- My favorite: the cockroach: Focus, don’t panic, bootstrap, make products people want, get paying customers, cut costs, get to break even, raise enough capital and stay strong.
Index recently invested in the Israeli startup MyHerritage, the maker of fancy family trees and advanced image recognition technology which recently acquired London based Kindo.
Unfortunately, I wasn’t able to embed the slides, but you can find the original at localglo.be or enjoy the video below: