I’ve got a bone to pick. We have some really successful SA entrepreneurs that are flying the SA flag abroad, doing amazing things with tech, space and money in terms of VC, but the problem with them is I can’t relate to them. Not one bit.

San Francisco - home to Silicon Valley
Guys like Mark Shuttleworth, Roelof Botha and Elon Musk are the guys we should be looking up to for inspiration and learning from their success stories, but instead we having to put up with stories of SA startups getting millions of dollars in funding, making tons of buzz, but have no clue on how to actually make money, nevermind ever actually selling a company. If some of the SA startups do make money, these startups literally copied international products that were succssful and we then actually are proud of them. What?!
Let me explain a little more…
As an entrepreneur, I want to look up to Shuttleworth for inspiration, but how many people do you know personally that sold a company (in 1999!) for $575 million and then thought, “yeah, I’ll pop into space for a couple of days, that should be fun”? You can’t relate to that. Do you even know what $500 million is?
Roloef Botha is the same. Partner at Sequoia Capital, was on the board of directors of Youtube before it sold to Google, was CFO of Paypal before their acquisition by eBay just to mention a few. What?! This oke can spot a billion dollar company pretty much after it registers its first .com domain from GoDaddy. And you want me to lookup to and try and relate to this guy?
What about Elon Musk? Imagine me meeting this guy. “Hi Elon, so, what do you do?” “Hey Jason, well I’m the co-founder of Paypal, SpaceX and Tesla Motors.” Elan is one of the most influential people on this planet. Not a chance would I even know where to start trying to go about getting to the heights he has achieved.
So where do we start?
The companies and founders in SA that seem to get all the buzz and SA startups do lookup to are Springleap, Yola, Evly and to extent Twangoo / Groupon SA. We can definitely relate to these guys as they are in SA, push other entrepreneurs via Silicon Cape and other initiatives to build startups and get their stories told over and over. So where is the problem?
Springleap and Twangoo are exact replica’s of Threadless and Groupon. There is no innovation or much thought there. Just the balls to copy someone else. There stories include building a startup, getting investment and one selling the company with the other profitable to an extent. Possibly a success story in terms of them actually making money, but the part they don’t teach when telling their story is how to copy another startup and also make money from it.
Yola and to an extent more than Evly have had huge amounts of VC capital invested in them, but they are not profitable and for the foreseeable future won’t be either. Success story? Yes, in terms of getting investment and knowing how to spend bucket loads of cash, but making money? Vinny Lingham himself has a track record of making money with his previous startups and investments, so he is definitely someone to look up to, but definitely not Evly. Yet all we see, read case studies and hear from these days as an entrepreneur in the tech and startup scene are from these companies.
What I’m trying to say is lets hear more from the guys that are actually making money from their original, innovative startup. How did they go about getting investment if they did and how they actually giving the VC a return on it. You know what the sad truth possibly is? The companies that make the biggest noise are the ones hiding the real truth that they aren’t making money, just spending it.
I want more from the successful, profitable and innovative startups in SA and less from the viral buzz to the pivot my ass startups.




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