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Paul Jozefak
Hamburg, Germany
I am building companies from our base in Hamburg, Germany.
Recent Activity
To understand this post you are going to have to first go and read Max's post as well as Mark's initial post. Go ahead....I'll wait. The response below to Max was simply too long as a comment on his Facebook post and I prefer to share it with everyone. Max, first things first: I am not trying to argue in one direction or the other but technically you are not investing in "dots" if you truly are doing extensive references. Let me clarify using the analogy I have for years: fundraising in the VC space is like dating. Mark too... Continue reading
Posted Nov 23, 2016 at Babbling VC
Most people at this point know that I am originally from Slovakia. Although I grew up in the US, I was born in Bratislava. Although "home" never really was the country of my birth, it somehow always remained who I was. You can only imagine my dismay at having so many times heard my friends and acquaintances from there actually very negatively speaking of the country. Everyone had or has their reasons, but I chose to see things from a different perspective. I basically chose almost from the point where I moved to Europe back in the 90's to figure... Continue reading
Posted Nov 18, 2016 at Babbling VC
I've struggled forever to keep my mouth shut. If there is one thing I have tried to work on over the years it's saying less than more. I've been reminded again and again that you often achieve far more value by listening than talking. More so than not, I have left a meeting scolding myself for opening my mouth far too often and not letting the other party speak. I have become far better at this but it is something I try to focus on nevertheless. The reason this has popped up again in my mind is that I have... Continue reading
Posted Sep 13, 2016 at Babbling VC
I recently picked up a camera as some of you may have seen from my social network posts. I have some thoughts about this which I wanted to share. I picked up this camera for most likely some uncommon reasons. I am not a good photographer. I love taking pics but I am far from good. I had a Fuji x100 which I loved initially but used very little towards the tail-end of its time with me. My sister inherited that one. (I hope she finally starts posting some pics!) So why another camera and at that, one of the... Continue reading
Posted Sep 8, 2016 at Babbling VC
It’s been some time that I’ve again been with a corporate. Those who know me told me often that they bet I’d be here for two or three years and then gone. That was over four years ago. To be honest, I too thought max three years and I’m moving on. Surprisingly, lots of things went right and I’m quite certain that this opportunity exists with many more companies as well. I am not proposing that you go start the same endeavour that my co-founder and I did. What I am getting at is that corporates have changed and continue... Continue reading
Posted Aug 16, 2016 at Babbling VC
There is forever a problem to be found, regardless where you may look. Inevitably, corporates are really good at this. There are a ton of people within large organisations whose job it is to find problems. They aren’t necessarily there to solve them yet they are incentivised to look. As much as this sounds like an issue, it’s one of the odd godsends of working with a corporate. I can guarantee you that at a startup, where just getting shit done remains top priority, a lot of necessary things are often left out for the good of the above-mentioned goal.... Continue reading
Posted Jul 20, 2016 at Babbling VC
There’s a dirty little secret amongst those who know how to run corporate incubators/accelerators/labs and it’s one hardly anyone would openly discuss. The lifespan of these departments is always finite. Some may only make it one or two years. Some may make it to ten years. Nevertheless, none will survive much longer and very few will ever get past five years of existence. If we go back a couple of years you’d be hard pressed to find even one that is ten years old and still doing what it initially set out to do. Many have pivoted away from their... Continue reading
Posted Jul 14, 2016 at Babbling VC
I read a blog post the other day from a well respected VC. This is someone whom I know and whose blogging I have been following religiously for years at this point. Nevertheless, I was for the first time turned off by what they had written. The reason is that this VC was quite wistful in his thinking and honestly was completely off. Were you to go to any VC nowadays and exhibit behaviour as recommended in this post, you wouldn’t come far. Your employees would too question your strategy and you’d have trouble motivating your managers. The advice seemed... Continue reading
Posted Jul 13, 2016 at Babbling VC
I changed gyms about a year ago due to logistics. Nevertheless, one very odd thing occurred to me at the new place which dumbfounded me for quite some time. A lot of people came into this gym and didn't shower after working out. This seemed very odd to me....on top of being kind of disgusting. Were all the people coming by bike and showering at home? Were they ashamed of showing their imperfect bodies in the shower? Is there a new trend I missed...the Paleo of showering or something along those lines? Well, no, it's far simpler. I actually asked... Continue reading
Posted Jan 3, 2016 at Babbling VC
A couple of years back I was enamoured with the idea of reputation and the reputation economy. I even came close to joining a startup focused on reputation but am glad I didn't. I even had an idea to start my own business around the management of online reputation. Unfortunately, I don't believe that the evolution of our online behaviour is healthy when it comes to reputation. I'd actually think twice about starting a business based on reputation now because I'm quite concerned where everything online is headed. We've all started influencing our online behaviour based upon the fact that... Continue reading
Posted Dec 29, 2015 at Babbling VC
This shouldn't come as a surprise to anyone but it bears reminding. Never blindly trust market data regardless of whom it comes from. I remember all the years of reading business plans and seeing market data referenced. So and so market is so large and so forth. Such and such is booming right now. Useful at times but usually bullshit. At best, it was skewed only slightly but most likely totally off. Relevant to you is the fact that the provider of the data doesn't give a shit about your performance. It is there for the publisher's benefit. The only... Continue reading
Posted Oct 12, 2015 at Babbling VC
There have been multiple angles when it comes to reporting on wearables. They were all "dying" after a report came out last year. Now again, people are arguing that the days are numbered for wearables. Unfortunately, two years in a row people are getting it wrong and will continue to do so. Let's start off with a definition. For me and the purpose of this post, I am referring to "wearables" as encompassing anything you wear to either track fitness, get notifications or measure health, etc.. I am splitting out a category of wearables I'll broadly refer to as "smartwatches",... Continue reading
Posted Aug 18, 2015 at Babbling VC
As a former hockey player, I love using this Wayne Gretzky quote from my title.....too often at times. Yet, It reminds me over and over of how to think in business. There's been this exit in the German market announced officially yesterday that has received quite a bit of press, including my own. One of the aspects that hasn't yet been written about is what the founders did to get to this exit. I guarantee you that this happens to be one of the steps that every successful founder I have had the pleasure of witnessing in Germany has done... Continue reading
Posted Jun 3, 2015 at Babbling VC
Someone made a comment this morning about offering large amounts of equity at the early stages of a start-up's life to find employees. It went along the lines of labelling the folks that are incentivised by equity as either fools or mercenaries. It basically implies that you are either dumb or tactical to take a large equity stake early as your main motivator. I don't necessarily disagree about the part referring to motivation. If profiting from equity is your main reason for joining a start-up, you will most likely be disappointed. There are one-off opportunities to strike it rich but... Continue reading
Posted May 3, 2015 at Babbling VC
I wrote a tongue-in-cheek tweet this morning after seeing someone post slides Mike Butcher was presenting at an event. pjozefak Want to get on @TechCrunch? @mikebutcher explains how. OR pro tip: be smart & say "I'll sponsor your next event!" ;-) 22/02/15 10:58 He was discussing how best to get bloggers to write about you and I agree with everything he said. If you want to get written about, heed his advice...he's been at it a while. Yet there's one thing a blogger really can't say without coming across like a dick. Get to know them! PR and working... Continue reading
Posted Feb 22, 2015 at Babbling VC
I've seen this happening over the years but it seems to have come to a fever pitch in the past year or so. Ever more people I run across or who apply for positions have held the title of "Entrepreneur-in-Residence".....better known as EIR's. This has become one of the most loaded terms in the startup world. The majority of the folks don't realise that this is one of the most bullshit titles out there now. Back in the 90's, EIR's showed up in the Valley. Here's the thing though.....these were really entrepreneurs. Usually EIR's were guys who had already exited... Continue reading
Posted Feb 17, 2015 at Babbling VC
This is one hell of a biased post so let me get that out of the way right off the bat. Being that I am from Slovakia and was just there for the Slovak Startup Awards, there is no way that this post could be considered impartial. But so be it. Having spent the past 2,5 days in Bratislava to attend the awards show as a jury member, I had the opportunity to get around a bit in town...mostly for meetings. Nevertheless, I had some coffee and food at Foxford and Urban. I ate steak at Carnevalle. I had a... Continue reading
Posted Nov 29, 2014 at Babbling VC
This is more of a fun post but there's a point to it. I was listening to a podcast this morning where Tony Robbins was being interviewed...he's out promoting his new book. I have to admit I bought it based upon the press it's been getting more so than actually being interested in the topic. Nevertheless, he makes an interesting point in the interview....which I'm presuming I'll also see in the book: "Set your goals based on realistic numbers." How long is one million seconds? 11.57 days How long is one billion seconds? 31.67 YEARS!!! Think about that for a... Continue reading
Posted Nov 25, 2014 at Babbling VC
Don't believe in email. No, don't use it at all! It's the easiest Form of communication but also the easiest way to go unnoticed. If at all, you'll be responded to at the receiver's pace and that hardly ever matches yours. Everyone I work with hears me stress the importance of phone calls. There's nothing better than getting someone on the line. Further, if you don't get them on the phone, find something other than email. Yes, there are better options. You know what everyone reads? WhatsApp or iMessage/SMS! Why? Because it could be the wife/husband, the kid, a close... Continue reading
Posted Oct 29, 2014 at Babbling VC
It's been an interesting year so far. I think we all concur that there is a lot of hype at the moment in our startup world. I presume there is more to come as I don't see any kind of downturn in the next 12 months or so. Nevertheless, one thing has been really annoying me recently. The amount of badmouthing and bashing I hear is excessive. It all came to a head for me with the Samwer "Reportage" a couple days ago. (Sorry, only in German). Long story short, this is a piece of horrible reporting trying to bash... Continue reading
Posted Aug 28, 2014 at Babbling VC
I'm surprised when people tell me they don't know how to go about getting a new job or feel stuck. It's not necessarily easy to find a new job but it's definitely a simple process. The best way to go about it is to TELL EVERYONE that you are looking. I could practically stop right there and you'd have all the advice you need. Let me explain a bit though where I am coming from. The majority of people I have ever hired told me they were looking. They pinged me after reading a blog post. They mentioned it in... Continue reading
Posted Aug 14, 2014 at Babbling VC
There's a reality in life when you try to succeed....regardless of what you are striving for. I'll call it "The Suffer" and I won't label it as good or bad. It just is. Note, it's not Gladwell's 10,000 hours when I talk about The Suffer, although the two are related. I'm referring more to the little things that you never talk about in hindsight. For example, most interviews never actually delve into the underbelly of success when it comes to The Suffer and most people, when asked how they did it, tend to focus on soundbites and the sparkle. I... Continue reading
Posted Aug 13, 2014 at Babbling VC
I read this article this morning and found it somewhat compelling in terms of why Gen Y is unhappy. I guess a lot of it simply makes sense and not just for Gen Y. Yet it completely falls apart at the end. The advice given is not unique and I've read it often. I take issue with all of it. 1. Stay Wildly Ambitious This is "delusional", to use a term from the author. In life, you should have goals and a sense of direction. That's good. You should also be an extent. Yet, remaining wildly ambitious all the... Continue reading
Posted Jul 8, 2014 at Babbling VC
I was happy to recently see that apprupt had sold. This was one of my early investments at Neuhaus Partners and in hindsight probably one of the more fruitful ones. Did it deliver crazy returns? Not really. Was it internationally known and a market leader in a super hot space? Also not really. Then why is it relevant? Well, it's an investment I made because of......the founders, a company I stayed engaged with.....because of the founders and a company where I remain friends....with the founders. I met Kjell and Jascha shortly after launching OpenCoffee in Hamburg. Few people were coming... Continue reading
Posted Apr 30, 2014 at Babbling VC
I'm glad I'm not the only one to think this internal memo is insane. Luckily, FastCompany already wrote their thoughts on Jason Goldberg's internal memo to employees trying to rally the troops. I wasn't originally even going to comment but after some thought, I wanted to add my comments. First, some background on my thoughts. I, for one, am not known as indirect nor one to hold back. I've had my share of loud-mouth comments as a manager and I've always been one to lead the charge when necessary. Nevertheless, I believe most people would concur that I surely have... Continue reading
Posted Apr 23, 2014 at Babbling VC