@experquisite It’s not true - it’s about accessing experience and skills not IP. If your IP is so thin someone can replicate it 2 months later your moat is inconsequenrjal anyway
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Matt Miller
592 posts
Matt Miller
@MattEvantic
Founder & Managing Partner, Evantic Capital
London, England Katılım Nisan 2009
513 Takip Edilen9.3K Takipçiler
@MattEvantic If they weren’t the best opportunities for people those people simply would not join.
The fact is that people would likely willingly sign up for even longer non-competes for the opportunity to work at these firms, the only real losers are small firms that want to learn the IP.
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OpenAI / Anthropic scaling up in London is wonderful for the UK. But we should make notice periods and non-competes above 60 days invalid and illegal. This will increase competitiveness for UK-based talent, increase pay & taxes and give UK startups better access to talent.
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@ktoya_me @MattEvantic nope, california is the only place where non-competes and even non-solicit agreements cannot be enforced... that's one of the reasons you see the bay area mogging everyone else
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It’s not self-serving, it’s aligned with growth. In Silicon Valley you retain the best talent by paying them well and treating them the best not by locking them into long notice periods. Notice periods protect incumbents who are not providing the best opportunity for their people and not aligned with being the best place in the world to build ai companies.
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@MattEvantic As a VC, this is a pretty self-serving opinion.
Fair and equitable paid gardening leaves are totally fine, and protect the firms who invest in hiring local talent, preventing them from learning the state of the art and then leaving to share the frontier knowledge with startups.
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@tommy5dollar That is what the lawyers tell you but lots of young people dont want to take on the legal risk/cost and six months is too long!
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@MattEvantic Don't UK courts tend to cap this stuff to a maximum of 6 months?
I agree we could benefit from changing the law to better codify unofficial rules, it's definitely young people who suffer most from this as they understand less well how to navigate the system.
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This is not true - London is the best city in the world and filled with incredible talent. If the quant funds and their employees have stayed already with the tax dislocation (pay more taxes here than if you move to beautiful Milan) this will not be the change that will tip them over. If anything it will make it more attractive for the best people to be here in a more competitive labor market
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@MattEvantic This would force quant firms out of the country.
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@PriceIndex This has long been one of the superpowers of Silicon Valley. Compete for talent by giving them the best experience and opportunity not because you’ve locked them in under contractural terms…
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@MattEvantic For the tech sector, at least, California's policy (which dates to the 19th century) seems to work very well. No enforcement of noncompetes in labor contracts.
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I agree to that in general of course but in reality this hurts young people the most. They don’t have leverage or experience when accepting their early career high salary jobs. So they unknowingly commit themselves to long notice periods which then make it much harder for them later to change roles into what could be an even more lucrative job. For growing companies in the Uk and Europe it is the worst when such a large section of talented employees can’t start working for you for six months or even a year in some cases! The result is you look for labor and talent overseas and that is net negative for this region when those jobs could have been here.
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@MattEvantic It feels like the government should largely stay out of dictating what high-earning employees can or can't agree to in contract law.
I trust our smartest employers and employees to innovate on this front to find optimal arrangements much better than the government.
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@sonyatweetybird @TimurNegru Would most likely be in Sardinia or Sweden though… 😊
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@TimurNegru @MattEvantic time for european mount miller
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Someone is selling an entire hill in Tuscany. 45 hectares, for €1.3M ($1.5M).
That's 111 acres of southern Tuscan countryside with a 500m² stone farmhouse on top, 9 bedrooms, 7 bathrooms, a pool, and an outdoor wood-burning oven.
The estate sits at 400m altitude on a privately owned hill near Saturnia, 8 km from the famous thermal baths and 50 km from the Tyrrhenian Sea. The farmhouse was built in the early 1800s by the Piccolomini Counts as the steward's residence for what was once a much larger estate. The current 45 hectares break down as 37 ha of woodland, 7 ha of arable land, and 1 ha of olive grove with 50 trees. It borders a nature park and the Albenga River.
What makes the price interesting is the land. 45 hectares fully consolidated and bordering a protected park is rare at this level in Tuscany. Most farmhouses in this price range come with 1-3 hectares of land. Here you're buying the hill itself.
The trade-off is access. You're 160 km from Rome airport and 200 km from Pisa, so this isn't a fly-in-for-the-weekend kind of place. Then again, if you're buying a hill in Tuscany, being hard to reach is probably the point.
How much would something like this cost where you live?
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Why do people so often use the phrase “May I pick your brain?” Or “I’d love to pick your brain”…. At the end of my day, I’m tired, I don’t want anyone picking at my brain 😂
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Two milestones in France: we've opened our Paris office and @AugustDebouzy has rolled out @harvey firmwide.
France is shaping the future of legal AI and we're excited for what’s ahead.
Read more about our Paris office opening here: harvey.ai/blog/harvey-op…
Read more about August Debouzy here: harvey.ai/blog/august-de…
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Congatulations, James, Dan and Team Ethos! Thank you for the opportunity to be your partners.
Daniel J. Mankowitz@DJ_Mankowitz
Today Ethos announces our $22.75M Series A led by @a16z, with participation from @generalcatalyst, @xtxmarkets, @MattEvantic, and @_CommonMagic. Ethos turns what you know into recurring income - matching your expertise to expert calls, research, AI training, fractional work, and full-time roles. 35,000 people are joining Ethos every week. People are making $10,000 every month on Ethos. AI shouldn’t replace you. It should make you irreplaceable. Build your profile at askethos.com.
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Congrats @matiii and Team @ElevenLabs
Mati Staniszewski@mati
We just crossed $500M ARR and welcomed new investors to @ElevenLabs: BlackRock, Wellington, Nvidia, Santander, Jamie Foxx, Eva Longoria and more. Natural, human-like communication will be critical to broad AI adoption - and these new investors help us accelerate that work.
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I’m becoming CPO at @nubank.
Everyone has a bank. Almost no one loves theirs.
We’re going to change that.
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We had an incredible April at Harvey.
- Net new ARR is up 6x YoY
- We’re about to break 50% DAU/MAU
- Our average user now spends 12 hours a month using Harvey
Job's not finished.
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@PrabirAdarkar @GuptaRK22 @andrew__reed Not true! @andrew__reed and I were the dream team on the Jive Software IPO. 😎 If only we had @RogoAI back then…
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when i was an IB analyst it really seemed like my VP was trying to screw me all the time too
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Big congratulations to @NiklasZENNSTORM and the team at @atomico for 20 years! Niklas founded Skype and then Atomico when these were not things one did in Europe. He has long been the ambassador of the great opportunity in Europe to the world. We have all benefited from his vision, courage, determination and resilience. Thrilled to celebrate you tonight. THANK YOU!
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Dude! It’s as if your hair is getting longer for every billion dollars of gains you are generating. Congrats on the hair AND the investment! 😎😂
Andrew Reed@andrew__reed
Some reflections yesterday @tbpn on early meetings with @paraga and @vladtenev. Two thoughts to summarize: 1/ do hard projects - exceptional founders are comfortable building 'below the waterline'. @p0 and @RobinhoodApp both invested heavily in infra to create long-term gains for themselves + their customers. 2/ trust the graphs - Robinhood was $100Ms of assets and cohorts suggested it would be many $100Bs. It happened. Early agent graphs suggest 1000x+ usage of the web. Let's see...
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There is some big time firepower in that room! 😎 🔥🔥🔥
Carl Eschenbach@carl_eschenbach
Thrilled to rejoin @cresta's board. The team has built an AI platform for customer experience that does it all: AI agents, human agent augmentation, conversation intelligence. The company just crossed $100M ARR with lots of runway ahead. Excited for what’s to come.
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