Former Nokia Engineers Fueling Finnish Startups
pbahra writes with an editorial in the Wall Street Journal. From the article: "A few weeks ago Microsoft's European chairman told TechEurope that the average amount of venture capital per head across Europe was just $7. ... Finnish blog ArcticStartup has extrapolated figures showing the total average VC investment per capita for the country was $46 in 2010... The question of why this country on the edge of the Arctic Circle should have such active entrepreneurs came up again in a conversation with Wilhelm Taht, the marketing director of Flowd... 'With Nokia changing gear there is a lot of technical know-how all of a sudden which wasn't available even two years ago,' said Mr.Taht, diplomatically, about the savage job cuts at the struggling mobile phone giant. 'There's a culture of technically savvy engineers. Finns are not necessarily very talkative people, but when it comes to what they know about computers and programming it's pretty staggering.'"
Maybe one of these companies can start selling MeeGo phones for those of us who want pocket computers.
"When information is power, privacy is freedom" - Jah-Wren Ryel
The US gov't spent billions per year in Scandinavian investments during the cold war to spy on Russia. Much of the early Nokia research was an excuse to put up listening posts in odd places. Now all new funding is from retirement funds dumping cash they must invest every week. As a society are we making progress?
Innovation could have happened, if only they didn't try to "manage" all the fun out of the job. Oh well.
The article seems contradictory to me. Which one is it, are they starting up or are they finishing up?
I recall Finns and Swedes dominating that scene because the average 13 year old had already studied trig and could program competently in assembly language.
In 2008 there was 1.9$ billion in VC funds in Israel, with a population of 7.3 Million. That's 260$ per head.
Wonder what's happening with those layoff RIM employees?
VC has traditionally been scarce in Finland, as is evident in the Finnish proverb:
No American would walk away from a tenfold ROI no matter how unlikely the success...
My brain hurts.
it. Do not share Raadt's stUbborn
Microsoft iceberg aside, the Nokia leadership managed to keep Nokia as the largest cell phone manufacturer in the world.
Never mind that its market share is plummeting...
They're not looking so hot right now, but they still push more phones into the market than any other company.
Which doesn't matter a spit if they aren't profitable. You can generate tons of revenue giving away $2 for $1 but you'll be out of business faster than you can say Chapter 11. The reason to not immediately press the eject button as an investor in Nokia is that they have about $10 billion in cash.
What will Nokia be left with? A mediocre, minority mobile phone platform, and their work force stripped of all quality.
I can't believe that shareholders are standing by, and watching, as the current incompetent throws away all of Nokia's best technology, and replaces it with something that has already failed even more miserably, 'windows phone'.
Is that a shutdown?
>there is a lot of technical know-how all of a sudden ... but when it comes to what they know about computers and programming it's pretty staggering
Assuming these super smart people make up 0.1% of the entire population including children and old people (highly unlikely), that would mean all 6,000 of them. 6,000 people. So, in brief:
>there is a lot of technical know-how all of a sudden ... but when it comes to what the 6,000 Finns know about computers and programming it's pretty staggering
I don't find that staggering. In fact, its pretty underwhelming. BTW, I, like most people here in America, are European (ethnically) and I speak a European first language, so its not like I'm being racist.