Saul Klein: Europe Is Quietly Building the New Silicon Valley
Aug 19, 2026 · 57:23
Saul Klein, Phoenix Court co-founder, argues that Europe—London especially—is quietly becoming the world's next Silicon Valley, calling the UK the third-biggest innovation economy after the US and China. He recounts building LoveFilm from Netflix-like DVD rental into a £100M+ revenue business via partnerships with Tesco, ITV, and Odeon, and joining Skype as it grew 400,000 users a day through network effects. Klein says founders should not blindly go to the US, capital is a commodity, and most of the world's 20,000 VCs add little beyond money; only 28 have backed 11+ companies to $100M revenue at seed. He details Phoenix Court's structure: a company, carry for every employee, and a foundation as 30% shareholder; he names London, Paris, Berlin, Stockholm, and Amsterdam as leading hubs.
