I know nothing about UK investment culture, but I have been building startups for 15 years, volunteered for multiple accelerators, made angel investments and rubbed shoulders with many US VCs.
My impression of the US VC industry, especially near the end of the zirp era and even more especially during covid, the amount of VC capital being deployed far surpassed the number of competent VCs or startup founders.
Many VCs were making decisions based on factors that were NOT correlated with future venture success. Many VCs in fact probably biased companies away from future success, because they didn't understand what they were doing and their instincts from prior industries or investment regimes were directly the opposite of what was needed for an early stage startup.
In other words, there is risk aversion, and there is foolishness. I know for a fact there was a lot of foolishness going on in us VC investing (I even participated in some of it, learned from it, and I know better now).
I'm not just talking about VCs throwing money at anyone with a pitch deck. I'm talking about VCs having a backwards understanding of what makes startups successful and actively pressuring startups that could have worked into doing the wrong things.
There is a core of US VCs that are the world leaders in what they do, exceptionally aware of what makes startups successful and have the track record to prove it - this minority is overwhelming responsible for the industry's ROI. There is also a massive graveyard of fools who tried to replicate that success and failed for a variety of reasons.
Also if the UK investor says "we'd love to invest, can do the whole round, want you to send us your current cap table, we need to get the deal done before April because we have capital to deploy before end of the current financial year" don't actually expect the funds.
I had the misfortune to be pitching to VCs in the UK, the money was so expensive that it’s just not worth it, much better off moving to the US if you can.
I have no phone signal in my village, a few miles from a major town. I have to use WiFi calling to talk on the phone. Our local politician campaigns against it, it is such an issue. Especially since analogue phone lines are due to be turned off soon. We still have a working red phone box though!
I travel around a bit in the area and blackspots are very common
I checked a random Kenyan address on starlink.com, and it would be around 386 USD for the dish there (with service for 50 USD/mo), so not cheap. In Poland I see that they're giving the dish for free with some 1-year contract (58 USD/mo). Maybe it'll become cheaper, they're making millions of them. And you could share it with neighbors - if you can get 300 Mb/s, you could connect like 5 families if the alternative is nothing.
Anyway, Starlink is mostly for places where you have no ISPs or cell service (or they are very bad), so not for 95% of Europe, and probably not for most of India, especially in the future.
Isn't it a shame that 90% of the comments here are complaining that AI was involved in producing this article, and none of the comments are from a tech nerd kid in Africa who has electricity because of the solar schemes mentioned in the article?
I worked in this industry, visited several rural areas. Spoke to many people. Sunculture used to be a customer of our software company. The article doesn't quite do justice to the introduction of electricity; it claims that people replace kerosine or diesel with electricity.
From what i've seen this is rarely true. Most people just sit in the dark. This means you go from total darkness at night to electricity. Even the smallest 100lumen light is transformative. You can talk to your family at night. You can make love while seeing your spouse. You can see the spiders and the snakes. You are less afraid of bandits in the night. The biggest impact isn't made by the pumps or the larger systems, but by the significantly more affordable $5-$10 solar lanterns. The poorest of the poorest will get this and pay $0.20 per day or week for this.
I appreciate your response! It’s nice to see the impact of technology from people actually there on the ground.
Too easy to forget that there are ~10 billion people in the world. I live in the US, and it always gives me awe when I realize we represent <5% of humanity.
You’ll likely need to wait a couple decades for this. Kids need to not spend all their free time helping on the farm first and their currency has to appreciate such that they can afford a computing device that isn’t a toy. With yields seeing such big increases it looks feasible, but we’re still early.
I agree in principal, but this whole post is lazy if it's AI-produced. There's certainly no original thought and as the comments mention here, most of the math is outright incorrect
With respect, you probably only see that bit of Finance, but doesn't mean that is all Brenda does.
At least half of the work in my senior Finance team involves meeting people in operations to find out what they are planning to do and to analyse the effects, and present them to decision makers to help them understand the consequences of decisions. For an AI to help, someone would have to trigger those conversations in the first place and ask the right questions.
The rest of the work involves tidying up all the exceptions that the automation failed on.
Meanwhile copilot in Excel can't even edit the sheet you are working on. If you say to it, 'give me a template for an expense claim' it will give you a sheet to download... probably with #REF written in where the answers should be.
It used to be custom (in high society, not anywhere I have dimmed) to sit boy girl boy girl, and for ladies to talk to the man in their left during the first course, right during second... to keep a balanced conversation going
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