Cretinism about Autonomy

Former Secretary of State John Denham yesterday accused ministers of spending too much time “cosying up” to foreign firms like Google, at the expense of home-grown companies.

Instead, they should quiz Mr Lynch on “why it is so difficult to get the long-term finance they need… to become global leaders themselves,” rather than selling to overseas rivals, Mr Denham argued.

Autonomy floated in London years ago. Had a ready, willing and able source of finance.

But when fools come in and offer 59% over market price for something then it\’s churlish not to take HP\’s money. This is now $10 billion that is sitting in investment pots and ready to be recycled into the next round of bright looking start ups.

John Denham is a twat.

1 thought on “Cretinism about Autonomy”

  1. Yezbut.

    I’m not sure it’s about financing, so much as about a certain about of balls-out crazy, but there does seem to be a difference.

    When you’ve got a Brit with a startup, they tend to say “yes, of course I’ll take the billion, are you crazy?”, whereas your Zuckerbergs and Jobses tend to say “fuck you, a billion, are you insulting my mother?”.

    Which means that the UK ends up with lots of retired former geeks, and the US ends up with the world’s leading tech companies.

    I don’t think it’s got owt to do with the City per se, and Denham is certainly a dullard, but there is a different attitude going on.

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