Skype Co-Founder Niklas Zennstrom's Advice for Startups: You Don't Have to Go to Silicon Valley (Video)

Niklas Zennstrom made a lot of money co-founding Skype — and sold it twice. Now he’s spending some of that money on startups all over the world, via his Atomico investment company.

And while lots of companies founded outside the U.S. eventually find their way to Silicon Valley, Zennstrom isn’t sure that’s the best way to go.

“It’s certainly not a requirement to do that,” he said at Re/code’s Code/Mobile conference. “I don’t see a pattern of companies that are moving here becoming more successful.”

His argument: There’s lots of talent in Silicon Valley, but there’s even more competition for that talent. Meanwhile, there’s a deep pool of technical talent outside the U.S., and it’s getting deeper. Go work with — and hire — those folks.

Here’s Zennstrom, in his own words, talking to Re/code Senior Editor Ina Fried:

This article originally appeared on Recode.net.

Will you support Vox’s explanatory journalism?

Millions turn to Vox to educate themselves, their family, and their friends about what’s happening in the world around them, and to learn about things that spark their curiosity. Financial contributions from our readers are a critical part of supporting our resource-intensive work and help us keep our journalism free for all. Please consider making a one-time contribution to Vox today.

One-Time Monthly Annual

$95/year

$120/year

$250/year

$350/year

Other

$

Yes, I'll give $120/year

Yes, I'll give $120/year

We accept credit card, Apple Pay, and Google Pay. You can also contribute via