Fire Alarm Companies

Saul Klein says that U.S. companies like Google and Amazon have "seized and lunch" British companies

one of the largest investors in the United Kingdom Technology requested the City and FTSE 100 companies to wake up to the Internet, and warned of more deaths if they do.

Saul Klein, partner at Index Ventures and former CEO of Skype, said digital is now the third largest contributor to the economy, responsible for 8% of GDP, but they were the City and public sector asleep on its meaning. "U.S. Internet companies like Google and Amazon have walked and ate lunch in the British media, in the retail, travel - and we will not stop here will do in other sectors such as financial services, lodging. "Said London Web Summit.

Over the past two years, the company has raised € 1 billion Klein technology start-up and growth. 130-140 holds interests in companies ranging from active retailer Net-a-Porter for financial service providers, such as climate.com a safe business for farmers affected by the weather destroying crops.

Klein is on a mission to transform boardroom with predictions thought the digital business grows to 12.4% of the economy in 2016. He said companies that seek to destroy was "like watching a car crash in slow motion", but often a lack of effort to understand the digital dividend.

"We've all heard about how Kodak was destroyed by the Internet and saw the same thing happens in the UK with HMV," he said.

Klein said the UK was so far from Silicon Valley investment banks employing analysts even follow the sector. The online retailer Asos is followed by the analysts of fashion rather than numerical analysts, for example.


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