Startups are not businesses

Barcelona has been nominated itself to be mobile capital of the World and each year, there has been multiple mobile related events where developers can introduce their products and network together. I have been always welcome to those events and never had any problems attending, even each year there has been less persons attending as Spanish youth has figured out that there is not much money to make from mobile apps. So, they hope to get a job in night club instead developing apps.

Probably for that reason, even AppCircus decided not to organise their app event in Barcelona anymore, which made me sad. But, instead I got invitation to “Barcelona Startup Week” and was happy to check it out. Maybe there is some success stories with their apps, so I registered only to those sessions, where some “startup” will introduce itself. I had no time to spend full week to this event anyway.

But when I went there, some guy in ape uniform (suit) comes to me and asks to leave! Why you spam me with your invitation then? I’m not sure, what bothered that idiot. Maybe I wasn’t dressed in suit or was too old? But, I’m very sure that this man never had done any business or built a company. He was too big idiot to run any business and idiots are usually not successful doing business and afterwards starting to do something called consulting to show everyone, that they have been idiots. And he even refused to tell his name and as there was organisers name cards in table, when I tried to took it he forcefully took his name card from me in front of young startuppers. Otherwise I would have had possibility to check out this idiot profile in LinkedIn.

But when articles started appear in Estonian business media regarding startups and how they had misused public and private investors money, I remembered my previous experiences with them:

Somehow they have crazy valuations what their business is worth. What I have heard, they are asking investors to put in 3-6 million for 3-6% of the company. Look, your business haven’t yet made any single penny of revenue, so why do you think that you are worth $500M? And some idiots are willing to accept such kind of valuation. Why this should bother everyone else is, that governments are printing this money from thin air and everyone else gets poorer. Especially those real entrepreneurs, who are always out of cash and have too many ideas to invest in their head. What happened to P/E values that financial market usually valued? Is it same, that when CV bastards took the power, then they denied that laws of physics and economy exists. Kind of quantum staff has gone too much to their brains. How can it be, that professionals are nowadays “overqualified” and people must make mistakes to learn?

Secondly I would like to hear from CEO about future vision and their mission. Instead, the only information they are willing to give to audience has been what kind of car they are driving and what iPhone models they have purchased to their employees? That’s why I once painted to that CEO Ferrari “BASTARD”. I was surprised, when guy comes out and immediately calls Police. But at least the Police laugh a little bit and never considered this to be crime.

My generation entrepreneurs sold their car and apartment to invest to their businesses, so why the first thing new generation entrepreneurs are buying from others money is a sport-car?

I’m sure that there is real entrepreneurs from young generation there as I have seen good programmers developing their apps and very innovative ideas. But they do not call themselves startups. They are just entrepreneurs and developers.

And they have called their office buildings appropriately – “incubators”. Incubator is where chickens are produced, so obviously they are producing only idiots with chicken brain.

The startup usually steals others idea, hires incompetent staff using CV process and spends public money for themselves.


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