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🎙️EP77 - The $34 Billion SECRET VCs Don't Want You To Know
Licensing beats equity 10x. Fabio Lettieri (Founder, Artivium | Partner, TLN) reveals how €2M turns into €100M in 24 months through royalty-based partnerships instead of ownership dilution, why Europe's 10x better engineers stay underfunded, and the $34B empire that makes nothing.
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🎙️ Episode Highlights:
After 27 episodes with 130+ guests who backed 52 unicorns, one pattern emerged: the capital allocation system is fundamentally backwards. Europe has world-class engineering talent but systematically starves it with slow, risk-averse investment. Meanwhile, accelerators spread €20K across 50 startups (nothing happens), and VCs burn €10-20M on equity models when €1-2M licensing achieves the same outcome.
Fabio's contrarian model:
- 20-50x ROI multiples in under 3 years
- €9K patent protection worldwide for 2.5 years
- ABG case study: $34B annual sales without manufacturing one product
- 24-month discipline: market or die
💡 Key Insights:
"That million euro becomes nothing when you give €20,000 to everybody. It will be more productive to give $1 million to one company." European talent is 10x better than US engineers, but the capital structure prevents scale. The alternative exists—most investors just pretend it doesn't.
👤 Guest: Fabio Lettieri
Founder, Artivium Inc. | Founding Partner, TLN - The Licensing Network
25 years IP licensing experience | $500M+ in royalty deals | Former Licensing Director, Iconix Brand Group
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📖 Deep Dive Article:
Why licensing beats equity 10x, the ABG model that makes $34B without products, and why Europe's investment mindset is the real bottleneck—not talent, not tech.
🪧 Subscribe to the Forge on Substack to stay up to date:
🔗 https://theforgeofunicorns.substack.com/
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🔧 FREE AI-Readiness Assessment (5 spots, Q4 2025):
Clear data. Actionable insights. Zero cost.
👉 Contact: https://brix.consulting/free-ai-readiness-assessment/
----
⏱️ Timestamps:
00:00 TL;TR
01:00 Introduction to IP and Licensing Business Models
05:46 The Role of Accelerators and Incubators
12:39 Challenges in Software Development and Marketing
19:00 The Power of Licensing in Business
27:06 Innovative Approaches to Product Development
31:50 The Ego of Founders and Company Success
32:37 Future Potential Over Past Achievements
34:52 Investing in Projects: A Personal Approach
36:09 The Unique Venture Studio Model
38:29 Licensing vs. Traditional Venture Capital
40:21 The Misunderstood AI Market
41:25 Social Tensions in AI Adoption
43:22 The Speed of Idea to Prototype with AI
45:06 The Importance of Personal Connections
48:23 Cultural and Investment Mindset Differences
50:25 The Power of Licensing and Branding
#VentureCapital #Licensing #Startups #Europe #CapitalEfficiency #TechLeadership #Innovation #Patents #IPLicensing
Hosted on Acast. See acast.com/privacy for more information.
View all episodes
By Michele BrissoniLicensing beats equity 10x. Fabio Lettieri (Founder, Artivium | Partner, TLN) reveals how €2M turns into €100M in 24 months through royalty-based partnerships instead of ownership dilution, why Europe's 10x better engineers stay underfunded, and the $34B empire that makes nothing.
----
🎙️ Episode Highlights:
After 27 episodes with 130+ guests who backed 52 unicorns, one pattern emerged: the capital allocation system is fundamentally backwards. Europe has world-class engineering talent but systematically starves it with slow, risk-averse investment. Meanwhile, accelerators spread €20K across 50 startups (nothing happens), and VCs burn €10-20M on equity models when €1-2M licensing achieves the same outcome.
Fabio's contrarian model:
- 20-50x ROI multiples in under 3 years
- €9K patent protection worldwide for 2.5 years
- ABG case study: $34B annual sales without manufacturing one product
- 24-month discipline: market or die
💡 Key Insights:
"That million euro becomes nothing when you give €20,000 to everybody. It will be more productive to give $1 million to one company." European talent is 10x better than US engineers, but the capital structure prevents scale. The alternative exists—most investors just pretend it doesn't.
👤 Guest: Fabio Lettieri
Founder, Artivium Inc. | Founding Partner, TLN - The Licensing Network
25 years IP licensing experience | $500M+ in royalty deals | Former Licensing Director, Iconix Brand Group
----
📖 Deep Dive Article:
Why licensing beats equity 10x, the ABG model that makes $34B without products, and why Europe's investment mindset is the real bottleneck—not talent, not tech.
🪧 Subscribe to the Forge on Substack to stay up to date:
🔗 https://theforgeofunicorns.substack.com/
---
🔧 FREE AI-Readiness Assessment (5 spots, Q4 2025):
Clear data. Actionable insights. Zero cost.
👉 Contact: https://brix.consulting/free-ai-readiness-assessment/
----
⏱️ Timestamps:
00:00 TL;TR
01:00 Introduction to IP and Licensing Business Models
05:46 The Role of Accelerators and Incubators
12:39 Challenges in Software Development and Marketing
19:00 The Power of Licensing in Business
27:06 Innovative Approaches to Product Development
31:50 The Ego of Founders and Company Success
32:37 Future Potential Over Past Achievements
34:52 Investing in Projects: A Personal Approach
36:09 The Unique Venture Studio Model
38:29 Licensing vs. Traditional Venture Capital
40:21 The Misunderstood AI Market
41:25 Social Tensions in AI Adoption
43:22 The Speed of Idea to Prototype with AI
45:06 The Importance of Personal Connections
48:23 Cultural and Investment Mindset Differences
50:25 The Power of Licensing and Branding
#VentureCapital #Licensing #Startups #Europe #CapitalEfficiency #TechLeadership #Innovation #Patents #IPLicensing
Hosted on Acast. See acast.com/privacy for more information.