Wednesday, July 9

Start Up

Eitan, summer '03. Somewhere in Richmond.

It is wet and warm in London - pretty gross. I have to deal with the nightmare of the car, now sitting at Heathrow Terminal 5 awaiting a new set of keys which I lost last week returning from Denmark. Cost of parking: $80 per day. Nothing in this city is cheap, I am reminded. Otherwise I meet a guy at The Wolseley who is raising a fund to invest in windmills in Italy. Pretty specific, I agree, but the chap is from there and he tells a remarkable story of selling his house in '02 to form a water and filtration business, which he sold to ABN Ambro Capital in '05 (this with new-born baby). He took the proceeds and started a wind farm in southern Italy, which he sold 18 months later. When I suggest raising a first fund in today's climate might be difficult, he says: "I don't care. I'm gonna do it." And I am sure he will.

On starting a company or joining a start-up. In my opinion, there are two times to do so: young, stupid and nothing to lose+a lifetime to recover should things not turn your way. No mortgage nor children helps. Alternatively, older entrepreneurs bring (presumably) greater insight into their plan and have financial wherewithal to throw at the project. Still, if one has the drive and the network, there is nothing like the present. Go Roger!