Comments on: Miguel Salis: building a one and a half billion dollar company in five years….in Spain http://english.martinvarsavsky.net/general/miguel-salis-building-a-one-and-a-half-billion-dollar-company-in-five-years-in-spain.html Blog of an entrepreneur Mon, 13 Feb 2012 19:31:49 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Martin Varsavsky http://english.martinvarsavsky.net/general/miguel-salis-building-a-one-and-a-half-billion-dollar-company-in-five-years-in-spain.html#comment-263848 Martin Varsavsky Mon, 12 Oct 2009 17:45:24 +0000 http://english.martinvarsavsky.net/?p=3748#comment-263848 Ramon, most people around the world use Europe as an example to follow. Spain is like other European countries in this respect. Ramon, most people around the world use Europe as an example to follow. Spain is like other European countries in this respect.

]]> By: RamonD http://english.martinvarsavsky.net/general/miguel-salis-building-a-one-and-a-half-billion-dollar-company-in-five-years-in-spain.html#comment-263845 RamonD Mon, 12 Oct 2009 01:00:25 +0000 http://english.martinvarsavsky.net/?p=3748#comment-263845 Martin, I wholeheartedly agree with you that in Spain “business success” carries “envy” and unfortunately it is not recognized by the general public. However a company that starts with a capital of plus $100 million in equity and is built around a sector highly subsidized - though, we don’t know for how long by the Government - to some degree does not fully meet all the entrepreneurship values we are still missing in Spain. I will rather consider Eolia the result of a great investment decision by a group of smart investors with large capital available that we must all congratulate. Congratulations to Eolia! r Martin,

I wholeheartedly agree with you that in Spain “business success” carries “envy” and unfortunately it is not recognized by the general public.

However a company that starts with a capital of plus $100 million in equity and is built around a sector highly subsidized – though, we don’t know for how long by the Government – to some degree does not fully meet all the entrepreneurship values we are still missing in Spain. I will rather consider Eolia the result of a great investment decision by a group of smart investors with large capital available that we must all congratulate.

Congratulations to Eolia!

r

]]> By: emule http://english.martinvarsavsky.net/general/miguel-salis-building-a-one-and-a-half-billion-dollar-company-in-five-years-in-spain.html#comment-263842 emule Sat, 10 Oct 2009 16:19:26 +0000 http://english.martinvarsavsky.net/?p=3748#comment-263842 toujours enegie renovable! toujours enegie renovable!

]]> By: Philip http://english.martinvarsavsky.net/general/miguel-salis-building-a-one-and-a-half-billion-dollar-company-in-five-years-in-spain.html#comment-263840 Philip Fri, 09 Oct 2009 22:01:32 +0000 http://english.martinvarsavsky.net/?p=3748#comment-263840 Hmmmm I love the smell of IPOs in the morning..... Eolia sounds like a very interesting company but... ... a company with sales of 86 million is difficult to believe that can be valued at 1.5 Billion. Are we mad here? 18 times sales? What would then be the valuation for Endesa? 150 Billion? Unless you happen to be the proud owner of a bunch of shares, maybe coming from the sale of El Moralejo, in which case you may think the value is whatever. The sky is the limit. Hmmmm I love the smell of IPOs in the morning…..
Eolia sounds like a very interesting company but…
… a company with sales of 86 million is difficult to believe that can be valued at 1.5 Billion.
Are we mad here? 18 times sales? What would then be the valuation for Endesa? 150 Billion?
Unless you happen to be the proud owner of a bunch of shares, maybe coming from the sale of El Moralejo, in which case you may think the value is whatever. The sky is the limit.

]]> By: XL http://english.martinvarsavsky.net/general/miguel-salis-building-a-one-and-a-half-billion-dollar-company-in-five-years-in-spain.html#comment-263839 XL Fri, 09 Oct 2009 21:27:48 +0000 http://english.martinvarsavsky.net/?p=3748#comment-263839 Isn't a good idea to speack by phone in spanish and write in english... Because the consecuences could be a horrible text... Sorry Shakespeare... It wasn't my intention to destroy your language... Isn’t a good idea to speack by phone in spanish and write in english… Because the consecuences could be a horrible text…

Sorry Shakespeare… It wasn’t my intention to destroy your language…

]]> By: XL http://english.martinvarsavsky.net/general/miguel-salis-building-a-one-and-a-half-billion-dollar-company-in-five-years-in-spain.html#comment-263838 XL Fri, 09 Oct 2009 21:24:56 +0000 http://english.martinvarsavsky.net/?p=3748#comment-263838 Martin I am agree Photovoltaic must be for domestic use, not to be connected to the electrical net. Subsides should be to help to install photovoltaic pannels in the rooftops, that will have much sense. Also Goverment should be focused in to help universities to develop I+D around photovoltaic world, because is quite clear, that this is the future, and this technology need be much more developed, this is the kind of economy model that need Spain, not the actual that is focused in to stupid public construction... Martin

I am agree

Photovoltaic must be for domestic use, not to be connected to the electrical net.

Subsides should be to help to install photovoltaic pannels in the rooftops, that will have much sense.

Also Goverment should be focused in to help universities to develop I+D around photovoltaic world, because is quite clear, that this is the future, and this technology need be much more developed, this is the kind of economy model that need Spain, not the actual that is focused in to stupid public construction…

]]> By: Martin Varsavsky http://english.martinvarsavsky.net/general/miguel-salis-building-a-one-and-a-half-billion-dollar-company-in-five-years-in-spain.html#comment-263835 Martin Varsavsky Fri, 09 Oct 2009 14:52:36 +0000 http://english.martinvarsavsky.net/?p=3748#comment-263835 I am in favor of renewable energy subsidies in Spain but only as a temporary measure. As prices of turbines and panels come down subsidies should disappear. Wind is now profitable in many places with little or no subsidies. Photovoltaic subsidies have been to large in the past. That was a mistake and they are coming down fast. Photovoltaic works better in rooftops than in isolated solar farms. I am in favor of renewable energy subsidies in Spain but only as a temporary measure. As prices of turbines and panels come down subsidies should disappear. Wind is now profitable in many places with little or no subsidies. Photovoltaic subsidies have been to large in the past. That was a mistake and they are coming down fast. Photovoltaic works better in rooftops than in isolated solar farms.

]]> By: Luis http://english.martinvarsavsky.net/general/miguel-salis-building-a-one-and-a-half-billion-dollar-company-in-five-years-in-spain.html#comment-263834 Luis Fri, 09 Oct 2009 14:38:04 +0000 http://english.martinvarsavsky.net/?p=3748#comment-263834 Yomismito, that's a very interesting point... never thought about it... I'd like to hear Martin's point of view on that. Yomismito, that’s a very interesting point… never thought about it… I’d like to hear Martin’s point of view on that.

]]> By: yomismito http://english.martinvarsavsky.net/general/miguel-salis-building-a-one-and-a-half-billion-dollar-company-in-five-years-in-spain.html#comment-263833 yomismito Fri, 09 Oct 2009 08:08:57 +0000 http://english.martinvarsavsky.net/?p=3748#comment-263833 Sorry, only in Spanish: http://www.expansion.com/2009/10/08/empresas/1255034438.html <blockquote>La gran mayoría de los españoles aprueba las energías renovables. Desde el punto de vista ecológico son irrefutables. Pero los ciudadanos, en gran parte, no saben que tienen un sobrecoste que terminan pagando ellos. La electricidad que generan las renovables se paga por encima de lo que cuesta producir la luz con otras tecnologías. Estas primas terminan en el recibo de la luz. Gran parte del agujero del déficit de tarifa viene ahora de las primas. (...) Entre 2004 y 2008 se han pagado 9.875 millones de euros en primas a las renovables. Es una media de 246 euros por ciudadano. Como cada vez hay más renovables (en ese periodo se han más que duplicado, hasta los 21.900 megavatios actuales), la factura verde cada vez es mayor.</blockquote> So, we (each citizen) are paying 246 euros per year so that people like Miguel Salis can win millions with their companies, which are profitable only because of public funds. Isn't it funny? But the funniest thing is that Varsavsky writes this article saying that his friend has a half billion dollar company <b>despite</b> living in Spain, when the only reason he has such a great and profitable company is actually <b>because</b> of living in Spain. Yeah, this is so so so funny. Sorry, only in Spanish:

http://www.expansion.com/2009/10/08/empresas/1255034438.html

La gran mayoría de los españoles aprueba las energías renovables. Desde el punto de vista ecológico son irrefutables. Pero los ciudadanos, en gran parte, no saben que tienen un sobrecoste que terminan pagando ellos. La electricidad que generan las renovables se paga por encima de lo que cuesta producir la luz con otras tecnologías. Estas primas terminan en el recibo de la luz. Gran parte del agujero del déficit de tarifa viene ahora de las primas. (…) Entre 2004 y 2008 se han pagado 9.875 millones de euros en primas a las renovables. Es una media de 246 euros por ciudadano. Como cada vez hay más renovables (en ese periodo se han más que duplicado, hasta los 21.900 megavatios actuales), la factura verde cada vez es mayor.

So, we (each citizen) are paying 246 euros per year so that people like Miguel Salis can win millions with their companies, which are profitable only because of public funds. Isn’t it funny?

But the funniest thing is that Varsavsky writes this article saying that his friend has a half billion dollar company despite living in Spain, when the only reason he has such a great and profitable company is actually because of living in Spain.

Yeah, this is so so so funny.

]]> By: Luis http://english.martinvarsavsky.net/general/miguel-salis-building-a-one-and-a-half-billion-dollar-company-in-five-years-in-spain.html#comment-263832 Luis Fri, 09 Oct 2009 04:20:56 +0000 http://english.martinvarsavsky.net/?p=3748#comment-263832 I must agree with GerryG... Zapatero and his team are a dismal for Spain. However, the alternative isn't too clear either. The PP is not pro-business enough, their hands are tied by stupid old rules and laws. Being an entrepreneur myself, I started a business in Spain in 2000 and believe me when I tell you it didn't make a difference even though the other party was in power. I remember participating in a business mission to Canada in 2003, in which Rodrigo Rato was part of it (back them the Vicepresident) and I could not believe how much easier it was to start a business, hire people, and protect your intellectual property in Canada than in Spain. I wanted to move right there. I ended up moving to Costa Rica in 2004 instead but that's another story. Let me just tell you that since I moved my business here I have really made progress (its a small software development firm so we can work from anywhere). Costa Rica, despite being a small and quite poor country is waaaay more pro-business than Spain, its easier to hire people, easier to open a business, its not a tax haven as many people think but not a tax hell like Spain either. Talking about taxes... this summer I run into a friend who has a lot of money (his family) but was laid off from a big company. He was proudly saying he was going to take a 2 year vacation on goverment's money (unemployment)... he doesn't need it, but still he's entitled to it... even though there are families that really need it... it just really sad. How can a country who is supporting hundreds on thousand of lazy asses like my "friend" get anywhere? The 18% unemployment rates are in reality 10% unemployed people and 8% of lazy bastards who don't want to work. Its that simple and that sad. Anyway... I must agree with GerryG… Zapatero and his team are a dismal for Spain. However, the alternative isn’t too clear either. The PP is not pro-business enough, their hands are tied by stupid old rules and laws.

Being an entrepreneur myself, I started a business in Spain in 2000 and believe me when I tell you it didn’t make a difference even though the other party was in power. I remember participating in a business mission to Canada in 2003, in which Rodrigo Rato was part of it (back them the Vicepresident) and I could not believe how much easier it was to start a business, hire people, and protect your intellectual property in Canada than in Spain. I wanted to move right there.

I ended up moving to Costa Rica in 2004 instead but that’s another story. Let me just tell you that since I moved my business here I have really made progress (its a small software development firm so we can work from anywhere). Costa Rica, despite being a small and quite poor country is waaaay more pro-business than Spain, its easier to hire people, easier to open a business, its not a tax haven as many people think but not a tax hell like Spain either.

Talking about taxes… this summer I run into a friend who has a lot of money (his family) but was laid off from a big company. He was proudly saying he was going to take a 2 year vacation on goverment’s money (unemployment)… he doesn’t need it, but still he’s entitled to it… even though there are families that really need it… it just really sad. How can a country who is supporting hundreds on thousand of lazy asses like my “friend” get anywhere? The 18% unemployment rates are in reality 10% unemployed people and 8% of lazy bastards who don’t want to work. Its that simple and that sad.

Anyway…

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