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In the City
BONUS: Brexit’s Long-Term Damage to UK Startups
Nov 11, 2023
Martha Lane-Fox, president of the British Chambers of Commerce, discusses the impact of Brexit on UK businesses. She emphasizes the effect on the skills base. NFX General Partner Pete Flint is optimistic about the UK's chances of becoming a business hub like San Francisco. However, he advises against companies going public in the UK.
29:33
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Quick takeaways
- Brexit has negatively impacted the skills base and access to capital for UK startups.
- The UK has the potential to become a global technology hub with its concentration of capital and opportunities for global business growth.
Deep dives
Building a lastminute.com-like business today would be easier
According to Martha Lane Fox, the co-founder of lastminute.com, it would be easier to build a business like lastminute.com today compared to the late 90s. She points out that there is now more access to capital and better technology, which would make the process smoother. However, she emphasizes that having the right team, like her co-founder Pete Flint, was crucial to their success.
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