In my experience in the entrepreneurial industry, success is easy if you have the right concept and dedication and motivation to succeed. My entrepreneurial journey began in high school and steadily gained momentum throughout my college years. In April 2007, my energetic team and I founded Netlog, one of Europe's pioneering social media networking sites with over 50 million users worldwide.
But in the essence of entrepreneurial business, the success and scale of Facebook and Twitter ultimately dwarfed many of their competitors, including Netlog, Bebo, and Myspace. From here, we relentlessly expanded on our original business and created Twoo. Twoo has attracted more than 200 million users with his social discovery app, which focuses solely on connecting people, and has since merged this company with other properties of his Match Group.
From these successes and failures, the entrepreneurial compass built into me led me to launch a series of companies including Rydoo (a leading expense management platform), Delta (a cryptocurrency portfolio manager), and Realo (a real estate data platform). and guided me. In recent years, I have stepped into the investment world as a non-executive director at Maison Sports, steered the ship of industry innovation through my studio-launched StarApps, and further expanded my portfolio by launching a €30 million investor fund. Diversified. , pitch drive.
This diverse business portfolio has brought me incredible success and valuable insight into the technology entrepreneurship industry.
The changing landscape of European entrepreneurship
The European startup landscape has truly changed over the past two decades. Once considered a geographical disadvantage, it has evolved into a neutral playing field thanks to the flourishing startup hotspots of Europe and the UK.
Gone are the days of focusing solely on regional or national market penetration, and European companies are now setting their sights on tackling global markets from the outset. This shift in perspective is evident and fosters an environment where innovation and imagination know no boundaries.
Entrepreneurial industries are filled with creative thinkers and dedicated decision makers. However, there has been a clear shift in thinking in recent years. Gone (thankfully) are the days of what I call the “unicorn race” where financial valuation was the only priority. Entrepreneurs are returning to the industry's roots and focusing on the impact on society, culture and industry rather than the number of zeros on the balance sheet. By focusing on making a meaningful contribution to society, I rekindled my innate entrepreneurial spirit.
But as we navigate the uncharted waters of artificial intelligence, aspiring tech entrepreneurs as a whole must be careful not to succumb to the eternal AI loop. While AI offers unprecedented opportunities for problem-solving and progress, it must be treated with caution. The main concern felt by communities, countries, and industries around the world is to ensure that AI remains a tool for progress and that rights and freedoms are not violated.
To prevent technology from taking over our lives completely and the unintended consequences of abandoning the amazing work that has been done to design technology to enrich our lives, we must innovate. Striking this delicate balance between ethical and ethical considerations is essential.
Technology — a bridge between industries
The flexible nature of technology allows it to play an important role on a global scale. Looking at the consumer industry, the integration of technology in its various forms has completely changed the way goods are sold and purchased. Maison Sport, in which I am also an investor, exemplifies this unforgettable progress.
Technology has completely changed the way we plan, book, experience and evaluate travel. The democratization of travel has become a reality, making travel more accessible and affordable to a wider range of customers. Maison Sport is a shining example of how technology can be used to improve the customer experience while also benefiting professionals. Harness the power of AI to help independent ski instructors manage their workload while giving consumers choice.
Advice for aspiring technology entrepreneurs of all ages
In this era of innovative technology, the sky is the limit. For individuals with innovative ideas and an entrepreneurial spirit, the unique opportunities to create solutions that improve everyday life are endless. Entrepreneurship, especially in the technology industry, should not be limited to a particular stage of life. It's a journey you can start at any age.
If you are still a student, start your entrepreneurial journey now. And if you're a professional, don't fall victim to golden cage syndrome. Break out and choose creative freedom over a paycheck.
Lead image: Photo credit alex lang
Starting with the early success of Twoo and Netlog, Lorenz is now the co-founder and CEO of StartApps and a major investor and non-executive director of Maison Sport, an international online ski reservation platform.