Post Script: The Broke Entrepreneur from Europe

It’s not often that I empty my wallet to help someone out.  I’ve written in the past about such a time, when an entrepreneur from Estonia was nearly broke (read “Entrepreneurship Is Hard”).  He was sleeping on people’s couches.

Well, I reached out to him to get an update.  Unfortunately, he did have to move back to Estonia.  But, he’s taken some time off to motorbike a bit and clear his head. Here’s an excerpt of his email:

Now I’m sitting in a ferry … back to the main-land Estonia from a 5-day motorbike trip and analyzing the options I have on the table at the moment. Some Lithuanian angels have started due diligence and are interested … Finnish business men want to partner up to start a new business in Finland; an Estonian consultancy company is creating a new business line based on our product; a Swedish angel group contacted us.

So, I think he is in a good spot.  He is re-grouping and now evaluating options.

I wrote the first post about him back when Facebook was about to go public and there was tremendous buzz.  Well, a few months later, Facebook is performing “below expectations” (whatever that means).  How quickly the tide of public perception turns.

But, entrepreneurship is hard.  It always has been.  It’s particularly hard when it’s no longer the cool thing to do.

I’m optimistic for my Estonian friend.  He isn’t giving up and he certainly isn’t letting Facebook’s stock price determine his decisions.


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