Morten Lund is a Danish entrepreneur and seed investor. Also known as the superstar investor behind Skype and a number of other well known companies. Driven by the will to create new ventures, Morten Lund has co-founded more than 50 high-tech start-ups in the most varied industries, ranging from Internet, health and travel to alternative energy.
In 2003, he invested in his so far most successful project: the online communication software Skype which has over 600 million users today.
Not averse of taking risks, Morten Lund bought the heavily indebted Danish free daily newspaper Nyhedsavisen in 2006, with the ambitious goal of making it profitable again. Despite of the newspaper becoming the most read in Denmark, the project failed and he had to declare bankruptcy in early 2009. Morten Lund will teach you about the successes and failures of entrepreneurship and prepare you for the real world and what to avoid with investing real money in start-ups.
Morten Lund: The Life Of An Entrepreneur
Also, Checkout this speech by Morten Lund shortly after he went Bankrupt, it puts alot into perspective on how hard things can be as an Entrepreneur and the importance of never giving up:
Morten Lunds Bankrupt Speech:
Morten Lund lays down some advice to Entrepreneurs for 2012:
Dont Be Fooled By The Few Successes
Dear Highly Valued reader – and potential entrepreneurs of the 2011 class. I know that Im one of the most intensive promoters of entrepreneurial lifestyle in the techworld. Ups and Downs – Good and Bad – Fantastic and Horrible. I know a lot you highly valued readers are either entreprenuers – who reads my bullshit – just to get confirmed that there are people more crazy then you. Or you are wannabees who just flirt with the idea – or you are just about to jump into it…
Valuation Hysteria Is Coming
I feel that I have to state it AGAIN: It takes about 5 years and its seldomly without profit you can sell companies for sky high numbers – and get a chance to be called an over night succes…
Im working more then ever –
and I feel more successful then ever.
And I think the technology entrepreneurs are having a better time then ever.
But be careful – we are on a direct path to a new tech hysteria – Facebook and Groupon drives it – these companies are historically growth monsters breaking all existing rules for generating growth and profits. And they inspire thousands of people to go into tech ventures*. AND ITS GREAT – the Kaufamann Foundation points at entrepreneurs and entrepreneurship driving nearly all Jobs Creation in the US. We need Startups to create those jobs – to preserve the biggest luxury we don’t remember on daily basis: Social Stability in many many countries. But.
But There Is A But
But Twitter (and Skype) is planting a dangerous virus in the new coming entrepreneurs heads.
But I have to warn all the startups who thinks HAVING NO REVENUE MODEL LIKE TWITTER is a way to build a company. A company has to make CASH – one way or the other…
Its VERY SELDOM that a company can be sold on promise, idea, user base or disruption alone. Write it on your laptop!
I still recommend everyone who gets goosebumps – when they visualise a day where they have their own company – and decide themselves what to do – and work on exactly what they love to do! But remember its shit hard – and you still have to do a lot of household stuff – like taking out the garbage and deal with crazy good competitors from the whole world… Its not heaven – but its close – and I love it. LOVE IT. Its takes just in between 5years and a lifetime to make it. Just get used to it – you probably have to be a bit crazy – look who is writing.
*The Social Network (the movie) – is one big promotion and vocabulary on building a company and reaching the skies – of course also showing that capitalism is hardcore. But get used to it – its insanely competitive.