Station F is a well-meaning project that may succeed. The French government plays a large, interventionist role in the nation's economy, and infrastructure projects like this are one way it can express itself. I lived in Paris for over a decade, and I happen to disagree with both the hype and some of the criticisms in this thread.
While Paris is the economic center of France, it is not where the money is. That would be London, NYC or Shanghai. Maybe Brexit will drive finance back to France, but France started driving them away with the early 80s nationalizations of Mitterand.
I think Station F could present a great, regional hub for EMEA. France and other European countries turn out amazingly talented technologists. But those same countries don't always provide an environment for them and their businesses to thrive. That is partially due to how people invest in Europe, partially due to how governments regulate, and finally to a discomfort with marketing in France itself.
There are holes in the European funding ladder moving from pre-seed to IPO that drive European entrepreneurs to Silicon Valley. Those holes are due to a lack of investors who are willing and able to identify opportunities at every stage and take a risk. Most European money is old, and it prefers real estate. If that money allots a percentage for VC, a lot of it will end up with Silicon Valley firms, because the top ones have unrivaled track records and the money does require a plane ticket to travel. And the SV VCs see all the best European entrepreneurs come through to pitch anyway.
The second problem is regulation, and something close to that which I don't quite have a word for. The best analogy would be to compare the Napoleonic code, which attempts to legislate for all contingencies from the beginning, with common-law systems, in which a body of precedent rulings and thought develop in response to the world. My impression of France is that it creates analytically rigorous and often misguided policies, and seeks to apply them to quickly evolving situations. I believe that thinking also infects many decision-makers who affect tech, who aren't responding and creating as quickly as they might in another cultural context.
Finally, tech needs hustlers and hype. New things must be sold. France has a history of inventing amazing technology before other countries, and not marketing it well (Minitel).
With luck, Niel's Station F will address and mitigate those risks.
While Paris is the economic center of France, it is not where the money is. That would be London, NYC or Shanghai. Maybe Brexit will drive finance back to France, but France started driving them away with the early 80s nationalizations of Mitterand.
I think Station F could present a great, regional hub for EMEA. France and other European countries turn out amazingly talented technologists. But those same countries don't always provide an environment for them and their businesses to thrive. That is partially due to how people invest in Europe, partially due to how governments regulate, and finally to a discomfort with marketing in France itself.
There are holes in the European funding ladder moving from pre-seed to IPO that drive European entrepreneurs to Silicon Valley. Those holes are due to a lack of investors who are willing and able to identify opportunities at every stage and take a risk. Most European money is old, and it prefers real estate. If that money allots a percentage for VC, a lot of it will end up with Silicon Valley firms, because the top ones have unrivaled track records and the money does require a plane ticket to travel. And the SV VCs see all the best European entrepreneurs come through to pitch anyway.
The second problem is regulation, and something close to that which I don't quite have a word for. The best analogy would be to compare the Napoleonic code, which attempts to legislate for all contingencies from the beginning, with common-law systems, in which a body of precedent rulings and thought develop in response to the world. My impression of France is that it creates analytically rigorous and often misguided policies, and seeks to apply them to quickly evolving situations. I believe that thinking also infects many decision-makers who affect tech, who aren't responding and creating as quickly as they might in another cultural context.
Finally, tech needs hustlers and hype. New things must be sold. France has a history of inventing amazing technology before other countries, and not marketing it well (Minitel).
With luck, Niel's Station F will address and mitigate those risks.