Star entrepreneur Boersch: “I’m used to losing money”

Cornelius Boersch is a serial entrepreneur, one of Europe’s most successful technology investors and author. In the hit ntv podcast “Biz & Beyond” he reveals how he made it into the 40 richest Germans, what he doesn’t forgive Angela Merkel for and what the USA has ahead of Germany when it comes to founding a business.

Cornelius Boersch, known as Conny, earned a lot of money at the flea market when he was still a student. At the age of 22, the founder became a millionaire and subsequently made it onto the list of the 40 richest Germans under 40. However, the path to success was not always easy. Although he celebrated some significant successes, he also drove a number of companies into the wall as a venture capitalist. He reveals in the hit ntv podcast “Biz & Beyond” that he is now practiced at losing money.

Every spring he invites you to the Entrepreneur Day at Tegernsee, where top representatives from politics and business are honored. He has also made a name for himself as a political advisor.

Boersch is critical of Germany’s economic future. In the book “Missed the future?”, published jointly with Thomas Middelhoff. he complains that Germany is practicing going backwards as a future concept. The interaction between investors, politicians and corporations did not work. This collective failure is also the reason why the older generation leaves the younger generation in ruins – with no prospects for the future, but with a lot of debt. If there is a lie, it is that pensions are safe. There is no concept of how we want to earn money in the next few decades. The traditional companies, which no longer play a role in the international top league, are too old, too risk-averse and not digitized enough. They are often too cumbersome to cooperate with startups.

Angela Merkel has “left behind a pile of broken pieces”

Now the mistakes that were made over a decade ago are taking revenge. The investor knows that he likes Angela Merkel personally, but she has left a mess behind. It’s mainly those who no one used to play with in the schoolyard who go into politics. They practice a policy that is conservative, risk-averse, backward and not prepared for the future.

Germany is no longer competitive. The country has great medium-sized companies, still great technologies and is the third largest economy in the world. But Germany has no vision of the future, criticizes Boersch in the podcast. There is an incredibly bad atmosphere. In contrast, countries such as the USA, China and Mexico have globally successful companies that have emerged in the past 20 years. Apart from Siemens and Deutsche Telekom, Germany has little to offer. But Germany in particular needs young companies and a startup culture. The problem is that there is hardly any risk capital and exit channels compared to other countries.

Not enough “out-of-the-box”

Furthermore, there is a culture of “swimming with the flow” in Germany. There is little understanding for people who think differently. Entrepreneurs are viewed as gangsters who evade taxes. There could not be an Elon Musk in Germany. He would either be in prison here or he would be declared crazy. This is because people in Germany have not learned “out-of-the-box thinking”. You can’t deal with such strange, visionary entrepreneurs there.

Boersch criticizes that most startup entrepreneurs would not start a company in Germany, but in the USA or elsewhere because the general conditions in this country are incredibly bad. Another problem in Germany is fundraising, which takes up 50 percent of the entrepreneur’s time. In the USA this is completely different. Entrepreneurs could therefore concentrate more on the business.

AI boom? “Last chance for Germany”

Boersch is a big fan of artificial intelligence, even if the trend is perhaps currently being hyped a little too much. However, he believes that AI will actually change our lives forever. For Germany in particular, AI is a final, unique chance to address the shortage of workers and skilled workers. However, Germany and Europe would see less of the opportunities and would instead focus on the dangers of artificial intelligence. However, Boersch believes it is important to approach the AI ​​topic without prejudice.

Universities are also getting rid of their fat. Boersch criticizes in the podcast that the wrong things are being taught here and not the things that you need as a good entrepreneur. The reason for this is professors who have never seen a company from the inside.

When it comes to his own investments in startups, Boersch pays more attention to the people than to the company idea. He himself tried many things and always fell on his face. But if you’re in a market long enough and you have the energy, you’ll find your niche. He points out to founders that companies almost never become successful with their original idea, but rather through what is known as “pivoting”, a process of change and adaptation.

“Networking is the be-all and end-all”

With his latest book “ONE: Your Compass to Living Your One Life to the Fullest” he wanted to convey that we have to make the best of our lives. There he summarized his experiences and knowledge from 30 years in business from the perspective of how to lead a happy life. It is never too late to change, because change is a matter of attitude.

Networking is the be-all and end-all. Without a network, you won’t find a new job, you won’t have any customer contacts, you won’t get any investors or any orders. Relationships with family, friends and business partners are just as important. That’s why he launched the Entrepreneur Day at Tegernsee 17 years ago. But you would only really get to know people in extreme situations. Many could pretend for years. He, too, has often misjudged people and been disappointed.

His conclusion and at the same time advice: “Enjoy life. Live consciously. Have fun with it. Take risks. Meet exciting people and be grateful for what you ultimately have.”