Europe needs to catch up on pivot culture

The founders of Lago, originally seeking to create a data tool they had desired during their time at fintech company Qonto, discovered through user feedback and market iterations that their product did not align with the needs of most growth teams, prompting a strategic pivot. Despite the lack of support for pivots within the European startup ecosystem, which often stigmatizes such changes as failures, they managed to realign their focus and develop an open-source billing alternative to Stripe, emphasizing market resilience and founder motivation as critical criteria in their decision-making process. They candidly communicated with their team and investors about the pivot, finding more understanding and support from U.S.-based investors who viewed pivoting as a natural part of startup growth. The founders highlighted the importance of a supportive network, referencing successful companies that have thrived post-pivot, and argued that embracing pivots is crucial for the survival and success of European tech companies, especially during economic downturns, to avoid missing out on creating the next major success story.