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The founders don't have the local knowledge and contacts to get through the regulatory hoops involved in launching a new payment gateway in dozens of countries.

The founders don't have the local knowledge and contacts to get through the regulatory hoops involved in launching a new payment gateway in dozens of countries. I think there was an article on HN where someone was talking about how these kinds of startups (the ones with difficult regulatory barriers) are the only ones that you should consider cloning in other countries for this very reason.

stef25 14y ago
> The founders don't have the local knowledge and contacts to get through the regulatory hoops involved in launching a new payment gateway in dozens of countries With the millions of dollars these companies get from investors you'd think they could hire local knowledge to figure it out for them.
- mbesto 14y ago
  And how do these founders know/trust local knowledge? Imagine trying to deal with an Eastern European market or Middle Eastern market, where bribes ("legal" and illegal) are necessary. How do you know you're not getting ripped off?
  - matthewowen 14y ago
    But this clone is in Germany. The fact that some countries are difficult to do business in doesn't mean that all countries outside the USA are difficult to do business in.
    - mbesto 14y ago
      I wasn't talking about just Germany. The OP's point was - why can't they just throw money at any country.
  - stef25 14y ago
    Hire lawyers and consultants that decide that for them.
tomblomfield 14y ago
AFAIK - The founders are from Europe and originally tried to set up Stripe in Ireland. They couldn't find a European bank willing to work with them.
andygcook 14y ago
I think this is the article you are referencing: http://bernardi.me/2012/06/startup-copycats-youre-doing-it-wrong/ http://bernardi.me/2012/06/startup-copycats-youre-doing-it-w... And the original HN comment thread: http://news.ycombinator.com/item?id=4091462 http://news.ycombinator.com/item?id=4091462 Interestingly enough the first startup the author suggests should be cloned is Stripe.
- mmcnickle 14y ago
  That's the one, thank you for digging it out.

stef25 14y ago

> The founders don't have the local knowledge and contacts to get through the regulatory hoops involved in launching a new payment gateway in dozens of countries With the millions of dollars these companies get from investors you'd think they could hire local knowledge to figure it out for them.

mbesto 14y ago
And how do these founders know/trust local knowledge? Imagine trying to deal with an Eastern European market or Middle Eastern market, where bribes ("legal" and illegal) are necessary. How do you know you're not getting ripped off?
- matthewowen 14y ago
  But this clone is in Germany. The fact that some countries are difficult to do business in doesn't mean that all countries outside the USA are difficult to do business in.
  - mbesto 14y ago
    I wasn't talking about just Germany. The OP's point was - why can't they just throw money at any country.
- stef25 14y ago
  Hire lawyers and consultants that decide that for them.

tomblomfield 14y ago

AFAIK - The founders are from Europe and originally tried to set up Stripe in Ireland. They couldn't find a European bank willing to work with them.

andygcook 14y ago

I think this is the article you are referencing: http://bernardi.me/2012/06/startup-copycats-youre-doing-it-wrong/ http://bernardi.me/2012/06/startup-copycats-youre-doing-it-w... And the original HN comment thread: http://news.ycombinator.com/item?id=4091462 http://news.ycombinator.com/item?id=4091462 Interestingly enough the first startup the author suggests should be cloned is Stripe.

mmcnickle 14y ago
That's the one, thank you for digging it out.