Daily Archives: September 4, 2007

Richard Waters

Dominoes How bad a dent could the mortgage mess eventually make in the earnings of internet companies? As we reported last week, this has been very much on the internet companies’ radar screens, though the impact seems not yet to have filtered through.

Early estimates point to some wide variations. According to Henry Blodget, some 13 per cent of the revenues of the four biggest US internet companies is at stake. 

Seedcamp Martin Varsavsky, the Argentinian founder of Fon, the world’s largest wifi network, loves Europe so much that he has made Spain his home. But he finds himself a pariah in his adopted country.

"A lot of people in Europe think entrepreneurs are thieves," he told participants at Seedcamp today, having dropped in on the week’s events between flights from Madrid to Beijing.

Mr Varsavsky, who attracts 300,000 a month to his blog on entrepreneurship, is no Eurobashing American. He tried living in the US, he admitted today, but said he didn’t like it, and criticised those in the US who still believe Europe as an expensive museum.

This is probably why his words should be taken seriously by those that believe Europe is somehow superior to demonise those who seek to create wealth.