American startup entrepreneurs have got it incredibly good, says London-based entrepreneur Liad Shababo.
Shababo says he learned this back in the Spring of 2012, when, in just one week in California he was able to raise seed-funding for his startup, called Shoply.
Shoply helps small businesses and brands sell their goods online. Shababo says it’s like Etsy, but for more than just handmade goods.
Back in 2012, Shababo posted about an earlier version of Shoply on a Website called AngelList. AngelList is a site where entrepreneurs meet startup investors.
One of the investors on the site, early Groupon employee Shawn Bercuson, messaged Shababo to say Shoply looked interesting. So Shababo booked a ticket to meet with the Bercuson in Northern California.
When they met, the Bercuson told Shababo that Shoply still looked good to him, and that Shababo should meet all of his friends.
So Shababo spent the week shuttling back and forth from San Francisco to the Valley, meeting with that Becuson’s friends. Every night, Shababo would come back to his hotel room to get online and manage his business from 3,000 miles away. He’d also tweak his pitch deck based on what he heard that day.
Eventually Shababo met with a former Facebook executive named Chamath Palihapitiya. Palihapitiya invited Shababo over to his house for dinner with him and his wife. At the table, Palihapitiya decided he liked Shababo and that he wanted to invest in a small seed round.
It was a pretty wild week.
Looking back on it two years later, Shababo says American entrepreneurs don’t understand how good they’ve got it — especially compared to entrepreneurs based in places like London.
He gave three reasons why it’s so good in America: