should we finance all good ideas?

February 16th, 2015 § Comments Off on should we finance all good ideas? § permalink

It seems that Slovenian society doesn’t have an agreement as to what projects should be publicly funded, so there is always pressure for more and more public financing of ‘useful’ projects, while the deficit is growing.

let’s look at the utopian approach first, let’s count how much money should the government disseminate to satisfy everything that the society produces. let’s break it down:

  • we have 2M population.
  • let’s assume that even retired and some underaged people can still participate in projects,
  • let’s assume that importing foreigners is also an option which will compensate for the ones that couldnt participate.
  • let’s also assume, that 10% of the population is capable of coming up with ideas and leading them, and that
  • average size of an ideal project is 10 members.

This means that we will have 200k active projects, which will need capital to pay for 10 member’s living expenses, and the projects’ material and program expenses. let’s say this cost structure is something like:

  • decent salary – $50k per person annually (average across the population)
  • decent baseline annual project budget is $1M (keep in mind, that this now has to include everything that public sector is already covering – from schools and hospitals to EU projects contributions and everything in between)

this means, that if the country wanted to pay for everything, the budget would have to be:

  • 2M people * $50k = $100 billion
  • 200k projects * $1M = $200 billion
  • so total budget would be $300 billion, and average project’s budget would be $1.5M

Slovenian budget is $10 billion, and the total GDP of the country is $50 billion. So this obviously won’t work.

Every time some new project expects public funding, it implicitly expects that if everyone did the same, the society would require $300 billion to function. Every time a new project is publicly demanding public funding, they are broadcasting this expectation into the general public. Every time a new project succeeds with this pressure, it sends the message that the society can afford $300 billion worth of public funding.

I believe it is crucial we form a broad agreement about what to do with this gap between ‘implied expectations’ and reality. We’ll look into that next time.

you want something done…

December 25th, 2014 § Comments Off on you want something done… § permalink

standard answer is ‘do it yourself’ of course, but that’s actually not correct or efficient.

as entrepreneur, you have to find ways to scale yourself / delegate. if you want to still believe tasks will be done well, you have several choices:

  • find someone who has done it before. a professional, who will not waste anyones time. usually expensive but predictable.
  • find someone between 15-25 years old, who is immortal and will move mountains. only works if you are able and willing to coach and mentor them, and have patience for occasional mistakes. 
  • find a professional in adjacent field, who is eager to prove herself in new space. this is hard to find, but usually decent alternative to the first one.

btw, all of these apply to yourself as well as a 3rd person – you will only be successful if your background can be explained in one of these three narrative styles.

welcome health tech community of slovenia

November 7th, 2014 § Comments Off on welcome health tech community of slovenia § permalink

wednesday was a particularly heart-warming day for me – happened, an event in ljubljana that got 180 local participants together to talk about what they are doing to change health industry for the better. startups, enterprises, doctors, beaurocrats. the organizers even published a ‘health book’ – showcase of the the community that was officially born there.

but really it all started in july already. gaja and I had some friends from NY visiting ljubljana. by coincidence two of the four worked in health-tech in the big apple, and we decided to drum up a themed tech meet up.

the email blast went out in the morning, 40 people and 12 startups showed up in the evening. after few hours everyone was excited to have met a number of likeminds they didn’t know existed in our town.

this turn up was an indicator that there is a community waiting to happen, all it needed was a catalyst. the organizers and key sponsor of the later were there as well, saw it and started planning next steps.

i hope the community will continue, through such events, meetups, or simply direct contacts, but most importantly, by helping eachother at marketing the next revolution.

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