1.
Lorenzo Thione
Co-Founder, Powerset
European Entrepreneurship & Innovation (ME421)
Stanford Engineering School
http://me421.stanford.edu
January 9 2012

2.
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

3.
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

4.
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
– ….

5.
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

6.
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

7.
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