The Rude Baguette Weekly Digest | A weekly wrap-up of what's going on in the French startup scene, as well as a sneak peak of what's to come
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French La Liberation will lose €700K after LVMH CEO Cover PageCasse-toi, entrepreneurship!The Talk this week in French Tech has been about La Liberation, a French magazine that I can now confirm has a socialist scew. Last week's cover page (featured right) featured LVMH  CEO Bernard Arnault, who has recently been in the papers for seekign Belgian citizenship. While he has denied doing it for tax evasion purposes - an accusation coming while French president Hollande reassured the world last week that he will, indeed, uphold the 75% on household incomes over €1 Million (during two tax years). Arnault, the 4th richest man in the world, behind the man who owns Mexico, the man who invented the PC computer interface and Warrent Buffett, has a lot to lose from two years of 75% tax on his multi-million dollar income.

And so, in the wake of arguments about whether he's fleeing the country, or if his newfound desire to become a Belgian citizen really is for "investment reasons," La Liberation put out their magazine cover, which roughly translates to "Fuck off, Rich Asshole!" - Perhaps a better translation would be "Beat it, Rich Jerk!" but let's say it's somewhere in the middle, in terms of emphasis and vulgarity. As the entrepreneurial community got fired up about yet another story about France hating entrepreneurship, LeMonde somewhat quietly put out this article[FR], "Heavy ad loses for "Liberation" after its Bernard Arnault headline" . Here's a quick quote/translation:

"Since the publication of the issue, the different companies under the LVMH group have made it known that they have cut their advertising budget through the rest of the year. In total, the profit loss amounts to €150K. But that's not all. Other luxury good companies, not related to LVMH, have announced that they too will be removing their ad campaigns in solidarity with LVMH. According to an source inside Liberation, the ad budget losses may total as much as €700K"

France is undergoing a transition, and it has a long history of drastic revolutions. We've already written about how France's biggest companies are dying, and how their only choice will be to support startups, which, combined, is the equivalent of a high-growth corporation. France has the technology savvy, it has the capital, it has an education system putting out thousands of new engineers a day - I repeat, we have NO developer crunch - just imagine what would happen in France became a country that supported entrepreneurship, instead of despising it?

Demo Days, Acquisitions and Tax Breaks

This past week the 10 Season 3 LeCamping startups pitched in Paris in front of a packed house of investors, journalists & entrepreneurs. We've already written about a few of the Season 3 startups - real estate search aggregator Home'n'go, 3D content search engine SketchFab - you can read about all ten here. I've tallied up the numbers on who attended & who got press attention, and this week, as the LeCamping startups get ready for their DemoDays in Berlin & London, I'll giving my sink-or-swim predictions for startups, as well as for the VC firms in Paris. Speaking of which, the long-troubled VenTech VC, who hadn't invested since May 2011, finally announced the closing of a €75 Million internet fund, which means their doors are back open. 

We spoke this week about Birchbox's acquisition of Joliebox, their European equivalent. While US press were quick to label Joliebox as a clone, I pointed out that the acquisition doubled Birchbox's brand relationships and also brought Birchbox to 3 more countries.
This week our Rude VC will be following up his piece last tuesday about what Hollande needs to be doing to save startups. He'll be writing about how, as it turns out, Hollande does actually like startups, and the new tax laws may actually spare investments and startups.

RB partners with Game Connection - November 28th-30th

The Rude Baguette is excited to be partnering with Game Connection, one of the largest global Game conferences in the world. For the conference's Paris edition, we'll be announcing some awesome partnership and *shh*, we'll also be announcing a pre-event of our own in the coming weeks. The event is pretty awesome, and we'l be attending all three days, so definitely look out for some upcoming articles with some special discounts for readers.

Plenty more to come this week. 

Rudely Yours,

Liam Boogar
Editor, The Rude Baguette

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