The tribulations of a child of the Internet It sometimes happens to pass its life without never being at the good place, at the good moment, with good competences to be in measurement to benefit from an extraordinary opportunity which arises at us. A part of my generation, the generation Y (for Yahoo!), represented by the old people from 20 to 35 years, has just had this opportunity. We are the children of data processing. We thus were placed best to create or take part in revolution Internet. We were sufficiently young to take the risk to become contractors, and sufficiently old to have the means of them. We profited from an access to the capital without precedent in the recent history of the financial markets. The speculative bubble that we knew is a reminiscence of the speculative bubbles on the tulips in Holland at the XVIIe century or of those which followed the introduction of the telegraph and the radio to the United States to XIXe and XXe centuries. While exploding, these bubbles destroyed value for their financial but created new whole sides of the economy. Their excess and their scarcity mark the spirits. The speculative bubble that we have just known is not ready to be repeated, at least on trades which we control (somebody knows it a training intensive in biotechnology?). We thus launched out in Internet by opportunism, taste to undertake, and will to create or take part in an industrial revolution. Some among us had the chance to grow rich materially. The majority only grew rich intellectually. In spite of décriés excesses of opportunism, we would have been stupid not to benefit from this revolution to try to enrich us. Never again the advisability of gaining as much money also quickly will arise at us. My personal experiment is symptomatic. Taken in the euphoria of the moment and my dreams of conquest of Europe, I unfortunately lacked good direction. I chose to create my company Internet for several reasons. After two years at McKinsey where I had enormously learned, I was sure not to have for vocation to write the perfect Powerpoint presentation. Having been a contractor parallel to my studies, and the gratification to have an impact on becoming to it company, to see it growing and to influence its destiny I missed independence. Some of my friends had already succeeded on Internet in the United States, and I had the impression to pass beside a single opportunity. Finally, at twenty-three years, I considered that I did not have anything to lose. In the worst case, I was going to learn something. If I did not take the risk to become contractor today, I would perhaps never become it. I did not want to wait to be married with children to say one day to my wife: “Today I left my employment, sold the apartment, and during the three next years I will work 80 hours per week for a company which has 95 % of chances to go bankrupt” I thus left McKinsey to create Aucland in July 1998. I made several errors. We launched the site in April 1999, after our competitors. The first error was to believe that we must develop our own software, technically higher than those of our competitors, to control our rise to power and to show with the capital-risqueurs our capacity to carry out a project. We should have bought a software to launch us quickly, and to develop our software in parallel. In spite of that, we were established quickly as one of the principal actors of the French market because we were better structured and had thought larger than the majority of our competitors. It is in June 1999 that I made my larger error. Four months after our launching, eleven months after the creation of the company, arised the advisability of selling it for nearly 100 million franks. I held 75 % of the company which had 20 employees, 20.000 customers and not of sales turnover. I refused because I thought that the purchaser would not give us the means of gaining vis-a-vis with QXL and iBazar, which had raised considerable sums. If I had had so much is little good direction, I would never have refused this kind of proposal for four years of work (I would have had a three years obligation of work at the purchaser). Our competitors were well armed, which made risky the advisability of continuing all alone on a market which is by monopolistic nature. By pride and megalomania, I preferred to take the risk to leave to the conquest Europe rather than to take into account the transitory character of the conditions under which I was… Since, I enormously learned. I hope, of course, being one day in a similar situation not to make the same errors again. At least, this speculative bubble created a generation of contractors in Europe. Having tasted to the joys of the entreprenariat, some among us will not return from there. We are unusable, unable to work in bureaucratic companies with many political plays. We will be the precursors of the changes and we will create the economic company of tomorrow. That will take just more time to us and less lucrative than will be envisaged. It is not very serious, having kept a point of megalomania, we can still dream to change the world!

THE POINT OF VIEW OF
Fabrice Grinda, founder d’Aucland

The tribulations d’un child of l’Internet

It sometimes happens to pass its life without never being at the good place, at the good moment, with good competences to be in measurement to profit d’une extraordinary opportunity which is presented at us. A part of my generation, the generation Y (for Yahoo!), represented by the old people from 20 to 35 years, comes to d’avoir this opportunity.

We are the children of l?informatic. We thus were placed best to create or take part in revolution Internet. We were sufficiently young to take the risk to become contractors, and sufficiently old to have the means of them. We profited d’un access to the capital without precedent in l’histoire recent from the financial markets. The speculative bubble that we knew is a reminiscence of the speculative bubbles on the tulips in Holland at the XVIIe century or of those which followed l’introduction of the telegraph and the radio to the United States to XIXe and XXe centuries. While exploding, these bubbles destroyed value for their financial but created new whole sides of l?economy. Their excess and their scarcity mark the spirits. The speculative bubble that we have just known n’est not lends to be repeated, at least on trades which we control (quelqu’un knows it a training intensive in biotechnology?).

We thus launched out in Internet by opportunism, taste d’entreprendre, and will to create or take part in an industrial revolution. Some d’entre had us the chance to s’enrichir materially. The majority only grew rich intellectually. In spite of décriés excesses of l?opportunism, we would have been stupid not to benefit from this revolution to try to enrich us. L?opportunity to gain never again as much d’argent also quickly will not arise at us.

My personal experiment is symptomatic. Taken in l’euphorie of the moment and my dreams of conquest of l’Europe, j’ai unfortunately lacked good direction. Selected J’ai to create my company Internet for several reasons. After two years at McKinsey where j’avais enormously learned, j’étais sure not to have for vocation d’écrire the perfect Powerpoint presentation. Having been a contractor parallel to my studies, l’indépendance and the gratification to d’avoir an impact on becoming it of l’entreprise, to see it growing and d’influencer I missed its destiny. Some of my friends had already succeeded on Internet in the United States, and j’avais l’impression to pass to side d’une single opportunity. Finally, at twenty-three years, j’ai considered that I n’avais anything to lose. In the worst case, j’allais to learn something. If I did not take the risk to become contractor aujourd’hui, I would perhaps never become it. I did not want to await d’être married with children to say one day to my wife: ” Aujourd’hui j’ai left my employment, sold l’appartement, and during the three next years I will work 80 hours per week for a company which has 95 % of chances to go bankrupt. ”

J’ai thus left McKinsey to create Aucland in July 1998. Made J’ai several errors. We launched the site in April 1999, after our competitors. The first error was to believe that we must develop our own software, technically higher than those of our competitors, to control our rise to power and to show with the capital-risqueurs our capacity to carry out a project. We should have bought a software to launch us quickly, and to develop our software in parallel. In spite of that, we were established quickly as one of the principal actors of the French market because we were better structured and had thought larger than the majority of our competitors.

C’est in June 1999 that made j’ai my larger error. Four months after our launching, eleven months after the creation of the company, s’est presented l?opportunity to sell it for nearly 100 million franks. I held 75 % of the company which had 20 employees, 20.000 customers and not of figure d’affaires. Refused J’ai because I thought that l?acqueror would not give us the means of gaining vis-a-vis with QXL and iBazar, which had raised considerable sums. If j’avais have so much is little good direction, I n’aurais ever refused this kind of proposal for four years of work (j’aurais have a three years obligation of work at l?acqueror). Our competitors were well armed, which returned risky l?opportunity to continue all alone on a market which is by monopolistic nature. By pride and megalomania, j’ai preferred to take the risk to leave to the conquest l’Europe rather than to take into account the transitory character of the conditions in which I trouvais…

Since, enormously learned j’ai. J’espère, of course, being one day in a similar situation not to make the same errors again. At least, this speculative bubble created a d’entrepreneurs generation in Europe. Having tasted with the joys of l’entreprenariat, some d’entre n’en will not return to us. We are unusable, unable to work in bureaucratic companies with many political plays. We will be the precursors of the changes and we will create the economic company of tomorrow. That will take just more time to us and less lucrative than will be envisaged. This n’est not very serious, having kept a point of megalomania, we can still dream to change the world!