Harry Stebbings interviews Steve O'Hare, a seasoned technology journalist from TechCrunch, on the 20 minutes VC podcast. O'Hare shares his journey from starting as a journalist in 2004 to becoming a TechCrunch Europe editor, then taking a leap into entrepreneurship as the CEO of Beeple, and his eventual return to TechCrunch. The conversation delves into the nuances of startup journalism, the dynamics of European startup funding, and the evolution of TechCrunch's coverage from startups to major tech players. O'Hare discusses the challenges of fundraising, the impact of media on startups, and the future of journalism amidst changing platforms and content styles. He emphasizes the importance of brand identity for publications and the balance TechCrunch maintains between editorial freedom and business concerns.
"This is the 20 minutes VC. I am Harry Stebbings and you are listening to a very special episode of Founders Friday as our guest Today is Steve O'Hare, best known as a technology journalist, currently at TechCrunch, where he focuses on european startups, companies and products."
This quote introduces the episode and guest Steve O'Hare, highlighting his role at TechCrunch and his achievements, including his startup and filmmaking ventures.
"Journalism was about 2004. I'd done some various web design projects and stuff after graduating from uni, and one project I built was like a sort of YouTube for students. It got picked up by the Garden newspaper."
This quote explains how Steve O'Hare's early web design work led to his first major exposure in journalism, marking the start of his career in the field.
"So I was approached by a very talented computer scientist who had an idea, but didn't really have like a CEO type role. And he asked me to do some consultation on the product, which was called Beefle. And it just spiraled from there."
This quote describes the circumstances leading to Steve O'Hare's shift from journalism to entrepreneurship, highlighting the influence of a skilled partner and the evolution from consultation to co-founding a startup.
"But what surprised me probably the most is as a journalist, everybody wants your help or wants coverage, so they're very nice to you. And I thought that when I went to the other side that my address book, my contacts would almost evaporate overnight. But the opposite happened."
This quote reveals Steve O'Hare's unexpected discovery that his network remained supportive even after he switched careers, which highlights the collaborative nature of the entrepreneurial community.
"I think it's like network effects. I think because America is a single market with one language and you've got a lot more high profile vcs on, like other entrepreneurs, that they can amplify your message a lot quicker in the consumer space."
This quote discusses the challenges faced by consumer startups in Europe compared to the US, focusing on market dynamics and the influence of industry figures in amplifying a startup's message.
ss consumer and less sexy, whereas it's hard to imagine a Twitter or a Facebook coming out of Europe. Certainly back then, this was sort of 2010 Eleven, and I guess the only exception I can think of off the top of my head is some of the gaming companies and something like Spotify.
The quote reflects the perception of the European tech scene as being less focused on consumer-facing businesses and the rarity of social media giants like Twitter or Facebook originating from Europe during the early 2010s. Spotify and gaming companies are noted as exceptions.
Before, it is very different covering the announcement of a funding round and raising one of your own.
This quote emphasizes the difference in perspective between reporting on funding rounds and actively participating in raising capital. It suggests a deeper understanding of the process once personally involved.
Yeah, absolutely. It's a slow process, but I loved it. I have to tell you, I really enjoyed the fundraising process because I like negotiating.
The speaker expresses enjoyment of the fundraising process, particularly the aspect of negotiation, indicating a personal affinity for the challenge it presents.
I remember sort of phoning my dad up and saying I felt like I'd stared capitalism in the eyes and I blinked first, do you know what I mean?
This quote conveys the speaker's initial experience of confronting the realities of the capitalist system during fundraising, suggesting a moment of realization about the intensity of the process.
And then the other thing that it taught me, which I don't really hear a lot of people talking about this, it struck me as a journalist that there's like an absolute conflict of interest in that stage when you're fundraising because essentially you're telling your vc in a way you're trying to tell them what they want to hear because you want to close around, but the minute you close around, they're your business partner.
The speaker highlights a conflict of interest where entrepreneurs might stretch the truth to meet VCs' expectations during fundraising, but must face reality once the partnership begins.
I think hard work, the tech crunch staff worked incredibly hard and we're quite mean if you think about Techrunch in the beginning when Mike Ariston started the.
This quote credits hard work as a key factor in TechCrunch's success and references the publication's commitment to covering startups from its inception.
So one of the strap lines was that TechCrunch obsessively profiles startups, right? And even though we've know a much bigger team now, we cover tech in the sense that tech is everywhere and is in everything.
TechCrunch's mission to obsessively profile startups is highlighted, along with its expansion to cover a wide range of technology-related topics.
Because we still do the startup bit really well, I would argue it means that in a way we win on both element ends.
The speaker argues that TechCrunch's continued excellence in covering startups contributes to its overall success and recognition in the industry.
I think that when you're sort of so early in the coverage cycle, then other media look to Techfront as a pointer to where they should go.
TechCrunch is recognized as a trendsetter in tech media, often guiding other publications on which startups to cover.
I think it was just today that Jan WhatsApp founder wrote something about how pr and coverage is a distraction, right? And you should focus on product.
The speaker references a comment from WhatsApp's founder, suggesting that while media coverage is important, the primary focus for startups should be on developing a great product.
But the conversation online has moved largely onto Twitter and Facebook and LinkedIn.
This quote acknowledges the migration of community engagement from individual publication websites to major social media platforms.
I think that's an issue that all publications have, which is that they don't own the commenting so much as they used to. It's much more aggregated across these big platforms.
The speaker points out the challenge for publications in losing ownership of the comment section due to the centralization of discussions on large social media platforms.
"No one wants horrible comments, but you no longer hold responsibility if they're on Twitter or Facebook than you do if they're on your own TechCrunch website."
This quote highlights the distinction in responsibility between user comments on social media platforms and those on a company's own website, suggesting less accountability on social media.
"It's really interesting how if you're not careful, you do lose control over the tone of the conversation."
Steve O'Hare emphasizes the importance of careful community management to maintain the desired tone of conversation, warning of the risks of uncontrolled growth.
"TechCrunch, we have a very good rule between sort of business development and commercial side and editorial."
Steve O'Hare explains the division at TechCrunch between the editorial side and the commercial side, ensuring journalistic integrity and editorial freedom.
"The editorial hierarchy is there to support us and help us to produce the best content we can. But at times it's quite hands off and there's a lot of freedom."
This quote describes the editorial environment at TechCrunch, where there is support but also significant autonomy for writers, distinguishing it from other publications.
"I think what I've noticed is the brands that do best of the publications are the ones that really have a strong sense of what they're there for."
Steve O'Hare discusses the importance of a strong brand identity for publications and suggests that a mix of content styles, like those seen at BuzzFeed, can coexist successfully.
"Probably the big sleep. Raymond Chandler. I like crime fiction, a classic crime fiction novel."
Steve O'Hare shares his favorite book, giving insight into his personal interests and how it reflects on his view of journalism.
"When people get my name wrong, they... Or the publication I write for. That's a pretty no no."
Steve O'Hare points out the immediate red flags in story pitches, emphasizing the importance of getting personal details correct to establish a professional connection.
"And I particularly like to be first because I focus on early stage european startups. Right. So if I'm not first, then what am I doing?"
This quote emphasizes Harry Stebbings' dedication to being the initial point of coverage for new startups, highlighting the competitive nature of tech journalism.
"The biggest trend is just the availability of pre seed and seed capital."
Steve O'Hare notes the increased ease of acquiring early-stage funding, which is a notable shift from previous years in the European startup ecosystem.
"I follow a lot know Twitter accounts, so I often go all over the place for my coverage."
Steve O'Hare indicates a diverse approach to staying informed, using Twitter as a primary source for information.
"So the short term plan is just to keep getting better at journalism."
This quote reflects Steve O'Hare's commitment to personal and professional growth in his journalistic career.
"But I feel like I do a lot of short news stories, startup profiles, funny around, just kind of the newsbeat. And what I like about doing audio is you can get a bit more of a conversation going."
Steve O'Hare explains the benefits of audio interviews, which allow for a more natural conversation and the opportunity to capture more authentic interactions.
"I believe as a journalist, you should be meeting and talking to people in the industry all the time."
The quote underscores the necessity of continuous engagement with industry figures to stay informed and connected, which Steve O'Hare incorporates into his journalistic routine.
"Well, Steve, thank you so much for coming on the show, really. As I said, it's been such a pleasure as such a fan of your writing, so real honor, and, yeah, thank you so much for giving up your time."
Harry Stebbings conveys gratitude towards Steve O'Hare for his participation, highlighting the value of the conversation and the respect for Steve's work.