The Olympics of Talent: France's Tech Boom
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There is a distinct advantage of building companies in france from dollar perspective.

I think friends is now on the mouth.

We see a lot of folks who come from your old or come from the U. S. And decide to move to bars and contribute to the in the same way that this happened with silicon valley fifteen.

twenty years ago. That was the main feedback that all the entrepreneurs ecosystem heard for many years. You're not being ambitious enough.

You're not being ambitious enough. The french founder that i've made often time, the ambition isn't that ambition isn't even the euro zone. Ambition is we're gona build the biggest company in the world.

IT was dirty in france to say that a few years ago.

That's the one thing we need to crack.

The olympics returned to paris this year, precisely one hundred years since the city last toted the event. Hopefully you ve caught some the highlights, like how the world's fastest man was only a fraction of a second faster than the athlete who came forth just shy the podium. Now, every games is filled with these incredible moments, as those nations is the event to show their strength as a country.

Well over a hundred and eighty participating nations do the same with the athletic talent. But as the games do approach are closed. It's worth reflecting on the fact that in the ninety eight percent of the time when the olympics aren't happening, county show their strength, their talent in other fields and increasingly, in technology.

So in this report series will be expLoring those dynamics across three regions, france, the U. K. In north america. So what makes these regions distinct, and what ingredients field driving start of ecosystems, is IT funding with tolerance regulation, or lack there up? As people increasingly ask the question of whether silicon valley can be recreated elsewhere, the answers may just be across the pond, their new as conversations around VISA programs, successful started movies and local culture.

In this ephod around france, they'll get to hear from boxon barca, long time director of station, the world's larger start of campus, also on 1NR ten cofounder， and C E O asiana, which was acquired by snap in twenty seventeen, was now working on amo and on fine, was even referred to by safety as the quote, godfather of Francis, emerging social media. And finally, branham, a extensive consumer partner who also happened to lead the around. And that recently required french startup real, reflecting on the very start of scene that they help build this kick things off brackton.

Then brian, then out one. As a reminder, the content here is for informational purposes only, should not be taken as legal, business tax or investment advice, or be used to evaluate any investment or security, and is not directed at any investors or potential investors in any a six cy fund. Please note that a six scenes year in a zuhri, az may also maintain investments in the companies discussed in this podcast. For more details, including a link torm investments, please see a six and set outcome .

slack disclosures. My prison is very early stage founder, and i've seen this evolved quite a bit over the last few years. I feel like it's become a lot more international, worsening a lot more people from different geography that now want to come build companies here, join companies here.

And also, I think with the maturity of the ecosystem, we're starting to see people who have previously been in a proper scale or even founded companies before now building new companies. So these are things that we weren't seeing as much of a few years ago. But I would say also with the A I boom. And I think it's no secret for anyone that the technical talent here, especially because the math and data programs that we have here are so exceptional that if you look in, I think, any of the leading top companies worldwide, their taking data teams will usually have a lot of french people in them.

When I think about the french tech ecosystem, typically have this three pronged answer. I would start with a info level and atomic ian fries. And my band was speed.

It's an info ford to startups at a specially early stage. And rock sand, of course, runs one of the largest side of study in the world. And I view station f is being a critical piece of infrastructure. And there is, of course, you know the amazing school like poorly technique that are technical and you even have schools at school forty two where the info is really, really good for creating the next batch of start of founders.

The second ingredient, I would say that france said that I haven't really seen elsewhere is there is such a strong sense of community, even the fact that there is a group of french consumer founders that all know each other, all talk to each other, and are very keen on giving back to the community after having seen what they have gone through on to on is a perfect example of someone who sort of grew up in the french tech ecosystem and then is very determined to give back whether its lessons learning, Angel investing and that loop to me, is quite rare. And and the last I would also mention that there's actually a lot of I know the governmental support, but there is a lot of push for the start of ecosystem to do really well, like there is a distinct advantage of building companies in france from dollar perspective, whether it's like B, P, I loans or whether it's actual GPU. So when you combine all three in for the community and the support adult mental scale, I think that makes for a very, very unique country to build company.

Yes, IT is fascinating to see that the country last year published a national AI strategy, dedicating five hundred million euros to AI cluster. So we'll get into that. But and to one, i'd love to hear your perspective, especially since it's been about seven years since your company's anley was acquired. You've been in this ecosystem for a while. Love to hear how you would see IT, but also how you've seen a change.

I mean, high level, I double down what and began that there is this obvious like under dog mentality, just because it's a smaller ecosystem which does create the bones and therefore folks to help each other. And so we discuss the last decade, if I go even a little further than that oxi managed.

And in cavor before station, have we had the most poor office you could have at this time, and we couldn't host even fifteen people in that consumer group. You were talking about the B. K.

We needed the space to see each other at nights hoxon. With ladas rooms in the incubator, SHE managed back them to the whole under dog flash. Give vx mentality is one of the things that today is staying dividends.

We're also seeing second time founders start time founders for the first time that government was an ambition level and access to funding. And Collins was in their initial teams that we couldn't see ten years ago when I was the first generation. You add the opening that france is coming towards where IT feels like a moral and country that was ten, fifteen years ago.

Yes, we had a lot of tourists, but IT wasn't depicted as the place where your quality of life was great and you'd be backing around the city. That is driving a lot of international talent. And we see a lot of folks who come from europe or come from the U.

S. And decide to move to paris and contribute to the start up in the same way that this happened with silicon valley fifteen twenty years ago. The top of mind example I have as d was one of the funding designers, early designers and flip board then at male box and let design at uber.

And now he's helping control was on an I P. U. Road track. And he moved back to france a couple of years ago. And that generation of folks is helping us yet to the next stage.

amazing. I know rock. And you also just publish the international component of station f yeah .

for the last seven years because we just celebrated seven years, we've always been around one third of our community international, but we found out this year that we have actually sixty five nationalities on campus. I didn't believe that we would have never guess that.

And then when you actually look also at some of the nationalities, their countries that also aren't the most obvious ones, there is a lot of places that you would just imagine very pro business and maybe they have tied to france. But also you have some very small countries that you cannot imagine that these people just picked up came here to build the company. So yeah, it's attracting people from everywhere.

Now how many companies are now on campus?

So we always have one thousand that are based on campus were refreshing minimum seven hundred companies per year. And so we've actually worked with more than seven hundred new companies player, which takes us to over seven thousand since the b 点 0。

My partners, Olivia, just in when they visit IT, the word for station f in their eyes are it's like a disney land for start up.

I very that is one .

so true IT is disney.

Sometimes it's too could see maybe for our entrepreneurs, we ve got to give my cake. But yes, it's definitely does new land. For starters.

What is title? And I mean, I think when people think about the world's largest start of campus, they expect that to be in silicon value is amazing. That is in france exam.

Same question post. At one seven years. What have you noticed?

I mean, it's been a hundred native degree shift when we started station of people didn't know where there are one thousand companies in france. This was very clearly the underdog ecosystem that onto I mention and it's funny because brand you mention community, I actually forget that I think we're so used to people here just helping each other and working together that we forget that it's not like that in all the systems.

But I think what we've seen really change in the last few years is maybe also the international investors that are paying attention to the ecosystem. So we talked about international talent, but seven years ago, we didn't have entries in coming out here. We didn't have secret coming out here. And I think today, IT makes up over fifty percent of the investment that's going into the ecosystem and helping the start up scale on international level. So I mean, to just put that in short form, I think Frances is now on the map and very high out there.

I sleep, true rock. And dad actually reminded me of something where one of the things that I love about french start of his a lot of time when you look at other geography of our community, their ecosystem, they're building for their own ecosystem, right? They're like all i'm going to build the biggest company in germany or bigelow company in korea.

But the french founders that i've made often time, the ambition isn't that. Ambition isn't even the euro zone. Ambition is we're gona build the biggest company in the world.

And of course, U S. Is one of the largest market we're going to go after. IT was the al and thought fulness and design that actually worked for those markets. And I think that attitude, confidence and approach is actually fairly rare.

Any thoughts on what makes that unique when IT comes to france level?

I think it's new, to be honest, because he wasn't the case ten years ago and I heard her say this many died to consumer unders or other found, as we know in common. Hey guys, first is great. But at six, five billion people, you're not going to make an extremely successful business if you focus on that.

And clearly, today is not a topic anymore. It's actually the opposite. That was a founder yesterday at forty two, which one of the earliest coding schools asking me if he should focus on the U.

S. First, or friends first, because he was naturally going towards the U. S, yeah, of course you need to succeed in the U.

S, but maybe you need T, M, F with fifty folks locally just to mature your product and tested. He was so, so growing on the idea that U. S. Is the only way to succeed, that he was also afford getting, that they also has to work local. But that to change that wasn't like this ten years ago.

for sure. Totally agree with that. And I think IT was very intentional.

I mean, that was the main feedback that all the entrepreneurs system heard for many years. You're not being ambitious enough or not being ambitious enough. So I don't know when the change happened. I was maybe like two or three years ago. I just really accelerated and literally, I have not heard that in several years.

The messaging works. And I mean, two industries that are inherently international, at least these days, AI and consumer, right? You often don't think of like a country based AI model or in some cases, consumer applications, but still the big ones, obviously, in international.

So let's talk about those because friends has become a leader in some ways in both. And so starting with A I, we're seeing companies like miss rawal leading the charge. What do you think is yelling that kind of representation?

This will be a maybe a surface of observation, but I go back into what is A I is that ultimately its numbers is math. And I think there is a little bit of difference between I, A consumer, and that regard. Consumer can be about culture, taste, U.

X. And design aesthetics. A I is a little bit more around the technical progress. You actually understand the math underlying IT.

And if you think back historically, I think france, i've been extremely strong at producing elite mathematicians. And the schools like poly technique are focus also on deepening that technical progress. And this sort of a arrival of L M.

And ChatGPT exit or just coincides really with a talent and interest, which I think is not really a surprise to me that one of the biggest fair office was in paris, right? And that the first role folks came out of that. In Young, the con, of course, as well. And then two, again, like we're talking about last seven years, but the info idea, the direction tours globally expanding that all been set as a foundation pieces. And then now you have this wave that's happening.

I think the dinner lying for A I is mass and numbers where we do have technical out. The underline for consumer today might be taste. And if you look at the city we live in at the epic of fashion arts, a lot of craze brands, this is what we are insight by on the David basic pye out of the office.

And there is fashion east in the street during exhibition. There's an exhibition within forty two on campus where there's banks on the world. So we are emerged in that culture that I think he needs to consumer provokes great design talent. You add also engineering to that, then the equation becomes really strong.

In in the last five years, we've added funding, which was the one thing that was back in the days missing, in my own case, one of the reasons why I made signs back them to john snap, because if you wanted to do an IPO in architecture, you would have to raise billion, a billion and a half snapped. Interesting others had done prior to us. And that seemed impossible with very sue gross firms locally and with the level of ambition to enable that, this has changed. Thanks for having us on the podcast. This is the perfect goal.

I so agree with the culture piece. I think I told a couple people like what's different for french consumer founders and my theory as well look like how many countries in the world expert culture, and if you think of consumer product like a cultural force, and honestly think about how many companies that can actually even export culture and is not a net importer of U. S.

Hollywood or french fashion. And I think we are left with very few countries. And again, I do if you need the funding, I think you need the technical talent. But from that standpoint, there just aren't that many countries in the world they can export culture.

This is also a shift onto an answer. When you guys were launching Sandy, like nobody was talking about consumer in france, you guys were the only ones. So what's changed? Why are we going to consumer out?

I think we've had the luck of seeing a few successful companies giving the way. And yeah then is probably one of them. We've had M, W, U, M, we do, or both massive publishers.

Ini was a the orion of tiktok. The design was invented locally by art students. And so these company have shown that it's possible and have succeed.

No one yet was an I P. O. So no home run. But some of us have gone to the first days, second place. And so there is everyone wanting to compete and go further than this, which leads to today where IT seems possible to my generation, the generation after. And so there is more and more new cool consumer products coming out.

We're talking about ten ten loves these days, and there is more coming in the same direction with former team members from all of these companies excel, who leads back in as a former M. T. members. And that enables the scale. That was harder for me back in the day.

And we're also seeing a little bit of mafia s right then mafia persica mafia photo. So it's just very interesting to see the cost of a movie like their places where that doesn't exist. I encourage were very family on a there .

will be one day, one day rerecord IT for .

a lot of the founders wanting to build the .

next thing korea has produced. great. Once o talk, there is a few good examples.

absolutely.

Are you guys seeing people from those movies go on and create consumer applications once more? Or seeing more integration, more of the crossover as founders .

go for around two. So we have a little over fifty percent of our founders that are repeat founders at station enoff. It's grown considerably in the last few years.

And what i've noticed is second time founders, they either go for something related to their first domain because they have Better insights and experience and connections. But i'm also seeing a lot of people really doing more for impact. They'll be a lot of people that will say, my first company built this IT was great, but now is my chance to really make a mark. And so there's a lot more of these kind of experience profiles going for climate related projects, health related projects, education related projects.

You know, people are quick to label, right? People think of boston for health care and they think of new york for finance. But obviously, every city, every country has a medical of things.

And perhaps there are things that are more underground that folks who live there no. Oh, actually, we're not just good at consumer. We're not just good at AI. We're good at many other things. Because if you're seeing other things where friends actually has a lot of strength, but other people may not know that quite yet.

I don't think station of represents the entire franchise system particularly well because we're obviously attracting people based on the infrastructure we have. So we don't have a ton of bio, but I think health is a space where friends really shines and nursing a lot of even with regards to A I A lot of really interesting things in the health space. Obviously, A I we have seen just all sectors, all fields, be to be stories.

Ally has been a very strong suit for france, so a ton of really interesting beat to the applications. We also have decided that we want to double down on two sectors where we feel france as well position to lead. But I would say quantum computing, we have some excEllent nobel Prices in france.

I think this is an ecosystem if you want. Talk about community like that is a really tightened community. You can count the quantum companies ably on both hands, but they all know each other.

They all worked together. So we have a quantum program on campus, probably the only one in europe climate because I feel like the regulation in europe is a very well position to accelerate these businesses. And we're seeing a lot of really interesting climate related innovations, fema health solutions, things that are in the same tax space, more stuff in materia here.

Post one on that one, I think I would add when you look at the pandora of sy lobs and companies that really have a go at world domination at some pins with finders and teams are ambitious enough to do that. In thin tech, we have squad of repeat founders that are so driven, have made significant the first time and looking to do massive the second time. Never actually I think of events and of memo bag and think of cato in the insurance space. I am know internal and child from Allen who I don't have a goal at one of the biggest companies in the world, their risk came insurance through A I. And this whole group is repeat founders who have succeed ones are going at existing industries and are executing.

I'm trying you mentioned john Charles and that actually remind me me of something. One thing that I always have, a question on, inner sort of founder and Frances, the baLance between commerciality. I E, I want to to make money.

I want to go public. I want to build this giant thing. Verses, oh, I want to have a great impact on the world, which is obviously noble, an amazing, and is a mission for a lot of folks.

I want to build something beautiful. I want to build something that gives me joy and satisfaction of people use IT. Those two are not necessary at odds, of course.

But I tend to see a little more folks like focusing on my impact, beauty like this sort of satisfaction, the internal sort of, well, like I build something beautiful verses less going in money. And I do think there are few folks. And when you say john today, that's like, oh, like.

isn't that what .

would you say to that?

He's also in the health damp. And the final story behind alan is also his first like solving ing house in the country where a lot of its deficit and structural baLance goes into the solve y health. If he takes, you can impartially solve that.

It's post noble. And yeah definitely he wants to build the massive business. Know he finishes his reports saying he wants to build the biggest company in the world and he has the ambition in the courage to actually say that s and he executing in that direction.

So I think this is also something that chased where IT was dirty in france to say that a few years ago, and still is in parts, I know, was very well percent by everyone, and told them he exited and then said he, I was a bad game. Ge, we had made money. I think that changing and there's more respect for the way that can also be utilized for public good. And when you look at all of these stories, the tie and between every single story, which is discuss whether its station forty two AI in france then and its capacity to be funded every stage when no one else wanted to give money, is one entrepreneur, one founder, pushing in all direction. He was an .

elephant in the room that I was going to, at some point, talk about. So i'm glad you.

but I do think on time. Sad sign that's definitely not to be ignored. There's a culture element to talking about money in france.

It's not the same as in the U. S. And I think within the ecosystem is much more accepted to talk about raising money, going after money, making money. I don't think within the entrepreneur community is particularly tabo, but I think outside of this community, the general public, that is very much the case, which means that when people are talking about their businesses openly, they're not going to be saying that as much. And that .

permits who people's world models are, what fields they go into, whether they willingly start businesses. Another key driver in addition to talent is, of course, the government strategy and what messages they are sending as well. So maybe we can pick IT to that.

I mentioned a little bit earlier, the country last year published a national AI strategy. But you also have private businesses with microsoft, for example, announcing an additional four billion dollars for data signers and AI investment in france. But then you also have, for example, the E, U. Reaching a deal on a regulation that some people are debating may actually stifle that innovation, ion. So i'd love to hear this group's perspective on how regulation is playing a role here.

As an outsider, I view recent policy towards the tech ecosystem is being very encouraging. They're seeing the impact that these businesses can have. They're seeing the impact that having these businesses on your shore and representing the country to some extent, what they can do to a national image of talent coming back to your country and building things, creating value within your borders.

Where we're seeing from the top right is almost as if somebody listens to I O is time to build in the trans edition. And so I get pretty excited about that. And i've seen the concrete benefit, right?

Like I mentioned, the B, P, I one, and I do know that changes the calculus for initial funding for a lot of start of founders because it's a non delude te funding and that enables them to think through the initial inflow a final differently from other, other ego system. I think that's interesting. I also know that there is a real concrete economic benefit for A I companies to relocate, build and friends.

you know, only thing they are so connected. But on the launch of states on f, we had sold and he enjoying snap a couple of month to private before the day of the launch with the president, which I met for the first time that day, we tell him to any story he learns the word diverts, which uses in the speech.

And our leaders along the way, one of his cabinet members who'd LED digital strategy for friends for maybe five years afterwards, consume ces. Hey, I work with the president. I'd love to understand where we can do Better.

We have been very lucky. We've had political momentum. We need to transform that into economic momentum, and we need to deliver.

These are his exact words. That day he invited me over and a few other, and we need to get feedback. And they did that continuously over the last seven, eight years.

A lot of that LED to reforms, LED to encouragements, LED to fixing a few things that made IT harder to be an entrepreneurship rench. And elsewhere today, as a french founder, I don't see you a reason to build a company, and that seem elsewhere unless hundred percent of your market is in other location. But even then, the access to talents you have work lead the local encouragements the support, make a very, very easy equation to actually stay in friends and dot from here.

I can help agree with everything that's been said, but I do think we have to make a distinction because we talked about also A I policy on a european level. So I think when you look at the french government specifically, I can pretty much only take positive things about what's happened. And some of the ground work was laid primac home.

But I think he really came in, I mean, the story from what onto and said, I remember that speech that he gave me like, oh, god, vivid. He heard that. But yeah, I think the thing is, he really understood.

He really connected. He grasped. He also pushed the government to be close to the entrepreneurs. I mean, we have a station of thirty government services, but I actually, my team shares a floor with twenty thirty people from the government.

So anything that we need, someone's visas blocked or having issues with public funding, they're gonna announce some kind of new thing for data protection. We can just go right next store and just I ask these questions and get solved. So I think this is something we never would have imagined prior.

And I also think that with regards to the negotiations around A I act, I mean, yes, I think I could have been Better. And i'm hearing a lot of comments from A I founders today that are saying europe is gonna behind because of what can be released here. But the fact of the matter is that when you look at what well france was playing in those negotiations, a lot of people are saying france was coming across as way more pro business and everyone else. So I think that's also not something to be ignored.

Maybe we can get into the specific I think I love that both of you mentioned that france seems to be a place that more profoundly than just for the uninitiated who aren't as familiar with what it's like to be a founder there. How would you characterize, whether it's the regulation or the community, what is actually different about being a founder in france? Let's say, compared to america.

I see people coming over from all different countries. But actually the country that's the best represented at station of after france is the us. And it's been the us.

From day one. We get a lot of americans that come here. And I think in the past, maybe like ten years ago, the conversations were around the classes around hiring and firing.

I don't hear that at all anymore. That's not a topic people are concerned about. actually. People are pleasant, surprised by bryan.

You mentioned that the the public funding, the grants you can get, in some cases, people qualify for unemployment. Very generous unemployment. I mean, there's money here and there's public money here.

That is probably way, way more generous than what you have in the U. S. So I think that's the first thing that a lot of people are talking about.

And then obviously, a lot of people who are coming from different countries are going through the VISA scheme. The government did a massive overhaul of visas. And I think it's probably hands down the vest entrepreneurs, tech talent VISA.

that is the europe one. I mean, if you look at emos are my current company, the majority of my higher come from abroad. It's often faster to get them a VISA and make them move in them.

Notice periods in certain countries, the first national that you represented, interns of international, higher as the U. S. We have an nine, ten americans in the team, up to a point where i'm questioning the idea of making the two american that if we want to stay international, this is the reality.

This was enabled through the french tech VISA. There is also a lot of things that we're done, their own capital gain taxes. They were done very early on and barely changed since, which was also one of the asks from entrepreneurs to stop changing these systems every year.

They've been good at not doing that too often. They've improved the way we grand stock options. And this was one of the liabilities that was harder here to do so to apply for market value and things like that and things saying it's been changed and it's not very competitive.

So I have your investments in germany and other countries where doc is barely recognized. You need a notorious to actually find a fundraise crazy. How complex is serious versus where IT is today in preps?

That's amazing. What i'm hearing is clarity as well. Obviously, IT sounds like over the last decade, a lot has changed for the positive, but i'd love to hear you're take on where we go from here, right? What would you love to see whether it's from the government or from the start up ecosystem as we look to, let say, the next decade? Imagine what recording this in twenty thirty four.

I would love to see a couple of ten billion plus dollar ipos.

Thank you. Class one.

I was going to say the same thing. And then probably some ma on top, which, by the way, we had the very first local significant M A. In france ever within that companies.

Be real, understand how this was through the gay investor. IT was awesome for me as the early health of that team and investor to see them self to local company. That has to go with that ten billion dollar I P, O.

In the next two, two years. That's very new. That opens up another market for vcs. IT qualifies the early stage space that enables more business s enables teams who have made money through through exit and are therefore telling us, does that stocks options have value associated? That's one of the things i'd love to see IT.

Welcome with the I P O S. A hundred percent. I think the only thing that I could think of is exit. That's the one thing we need to crack. The government is a very conscious of this.

So what I think is really great is they're often on the ground asking people what needs to change, what needs to happen, what can we act? They've been doing that also since cover in and when the funding kind of cycle started changing twenty, twenty two, twenty three on the ground, again, especially close to people in the finance world. And the one topic that has always talked about is exit. So hopefully will see some movement there.

Cici, I wrote down when stuff asked a question, I literally exit and I circle that.

And to your point of the government really asking for feedback, micron is till this day the only head of says I ever met and he asked the question, what can we do Better? Like why do you think this is an interesting market for you? And did the beginning of our pocket talked about like the infant, the community and the policy, like I said, like exactly those three things and he took notes and like what brand them like an .

investor and .

you're like taking not like you get great. So that's when I also of the third point to policy on my own. There's actually a system here that thinks of the tech ecosystem of being priority totally and brand.

i'd love to hear you're just quick take I mean, you know there's partly limitations and what you can say, but just with the be real acquisition, like what was that like to see that french company you have seen invested on our side? Was that surprising at all? Or how does the feel see that .

ma get off the ground is interesting. When you think about the exit ecosystem, we talked about the commercial and what have you like, boot is LED by someone who I think is also very commercial. And he also was a fairly early investor in burial himself through the Angel sort of system.

And I think you posted almost every day as well. I was friends with him on the real, so I would see him post every day. And I think it's very interesting when founders who understand the power of the product, the origin story to design, eat those people behind the product intimately.

Well, to have that confidence, right, like someone from far, far away, may not be able to make the same decision because there are so much wells knowledge and intimate relationship understanding about what the product is, what the potential is to combine the forces together. So I think there is really something to be said about. I think this also is a power of the community where had had not been the group, the closest and the intimacy within the community and the knows that all Chris, across across, like all the people. I think that would have been a different outcome, right? So like I think that's an interesting case study of how the ecosystem actually can produce real exit.

IT is changing the ecosystem for sure because it's also enabling visibility for these companies at our level. That was not possible for a french open Price. Now one of the successes for mistral as the quality of the model, the quality of their team, of course, but also the way they are eventually zing IT, and how this whole community for million developers has been using IT.

This is only possible because french chef ginners now speak english, and their teams are connected to the U. S. And have all these french engineers living and. You do the same myself ten years ago. I don't think IT could have had the reach IT has today because of the material.

The you're right. This is the first time people are putting the world leader open eye and a french company back to back, which we haven't had before. And also, what's really funny is most we didn't talk about this researcher movement before.

We can see people leaving research to build companies. And we saw IT with mishal, and then we saw IT with each company. And I think a couple of big corporations freak out and came and made some announcements here to calm their research change down.

But I am now hearing entrepreneurs on the ground here. That's a new way to go the company. Now people are like, oh, i'm just saying to go get some researchers raised hundred and million and build a company. That's the new dream, which is really incredible, to see that they ve inspired this new level of ambition even further than what we had before.

Well, this has been great. I have to cap things up for the final question. So rocks and and antone, will you be swimming in the river? This .

olympic ics.

do you believe in french technology enough that you would swim in the river?

No way. But i'm very happy the mayor did because he said he was so, oh, SHE did.

He did? true. Other people, nobody SHE .

did have a choice SHE to get .

in doesn't easy SHE wins pretty well too to be he .

was wow.

Right, that's all. For now, stay tuned for two more episodes in the series, or recover the unique attributes that have shape the U. K. And lain amErica up to the forces that they are today. What's you that.