Running an internationally “distributed” venture capital team obviously isn’t a trivial matter: partnership is based on communication and trust, and it is hard to achieve both when on most days, you’re 10,000 kilometers apart from each other.
Around the year 2000, a travel company was formed, and after a short bumpy ride, it managed to create a hugely successful, incredible concept. It managed to create a model that generated a gross profit margin of 98% and an EBITDA of nearly 50%. Simply phenomenal.
So long, outdated algorithms; an internationally stationed VC fund is taking their search for extraordinary ideas to an entirely new place.
Paypal co-founder Peter Thiel, in his 2014 startup digest “zero to one”, argues that creating a game-changing company means going from zero to one – from nothing to something (instead of going from something to a slightly better something).