Lorenzo Thione

Co-Founder, Powerset
European Entrepreneurship & Innovation (ME421) Stanford Engineering School http://me421.stanford.edu January 9 2012

A quick recap
• • • • • • • Studies: Milan to UTexas Austin (2000) FXPal and PARC (2003-2005) Powerset (2005-2008) Microsoft (2008-2010) Broadway/Allegiance (2008 - ….) StartOut & Startups Something new

Powerset
• First startup – so many lessons learned • Technology Play – High prod/tech risk • Capital Intensive – it was 2005!
– $2M+$10.5M – VC Backed

• • • •

Aggressive Growth – 72 people in 2008 PR Storm Internal Issues – Board Management Acquisition

Entrepreneurship
• The extremely creative effort of taking an idea, a vision, and create the unique circumstances (team, money, deals/partnerships, audiences, market, messages, brand) around it to make it come true
– Powerset – Allegiance – ….

xxxxxx
• • • • • • • • Ambitious Idea Reasonably small chance of enormous impact A-team Iterative Product Development Tough capital requirements Partnerships/Deals Requires Complex Management Build a strong Consumer Brand

Allegiance
• • • • • • • • Ambitious Idea Reasonably small chance of enormous impact A-team Iterative Product Development Tough capital requirements Partnerships/Deals Requires Complex Management Build a strong Consumer Brand

US vs Europe (Italy)
• Culture (cult?) of riskC • Celebration and Value of Failures • Ecosystem for mutual help
– Business karma

• Flourishing exchange of ideas

• Favorable business conditions

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