Interview with Eamonn Carey - Occasional founder. Author. Investor in interesting things.

"Inside Out"?is an interview series exploring individuals' personal journeys. Our focus is on the inner challenges, victories, and growth that led to their success, with an occasional discussion of how it applies to their professional lives. We believe that true success stems from inner development and aim to inspire others to follow their personal callings. Our guests help connect the dots between inner growth and external achievement by sharing their stories. This initiative is part of?Spirit X .

Please meet Eamonn!

## Could you share your journey with us?

First, imagine you have amnesia and have forgotten all aspects of your life. To remember who you are and the type of person you've become, please reflect on key moments, realizations, and milestones that have shaped your evolution from the earliest memories you can recall until the present day.

I consider myself fortunate in many ways. My parents highly valued education and experiences, so they always encouraged me to pursue my interests. As a result, I spent my childhood immersed in books, fueling my obsession with reading. I also enjoyed drawing cartoons and even attempted to sell them. It was around 1984-1985, at a young age of six or seven, that I developed an interest in computers. My dad bought me a Sinclair Spectrum 48K computer, which ignited my passion for the world of computing.

During that time, computer magazines featured code in their middle pages that you could transcribe and execute on the computer. These codes allowed you to play games like asteroids or space invaders. As a curious child, I started tinkering with the code, making modifications to see how it affected the game. Changing a line of code could break the game, alter the color of sprites, or increase the game's speed. This experience fostered my curiosity about how things work and my desire to understand the reasons behind their functionality. It's a quality that I still possess today and one of the reasons I became a founder and continue to invest in companies. I enjoy dissecting and reconstructing things, even if I occasionally fail in the process. It was truly a blessing to be raised with this curiosity.

That sense of curiosity still drives me today, especially when I attend events or meet new companies. When a company introduces themselves and discusses their work, I often find that I comprehend only a fraction of what they're talking about in the first pitch meeting—maybe around 20%. This pushes me to dive into podcasts, reports, and scientific publications, like New Scientist, to increase my understanding. By the next meeting, I aim to have grasped 30% or even 40% of their concepts. This curiosity has remained a constant throughout my life.

Apart from curiosity, two other guiding principles shape my approach. Firstly, I firmly believe that it's important to have fun in whatever you do. We only have one chance at life, and I highly value those around me who share a sense of curiosity, fun, and humor. I love gatherings where laughter echoes through the room, leaving us with unforgettable memories of hilarious stories and silly ideas.

Secondly, I tend to have a large circle of acquaintances, but only a small group of close friends. Many of these friendships go back to my school, high school, and college days. Loyalty is a significant principle for me, and I cherish the deep connections I have with my close friends.

So, these are some of the operating principles that shape who I am.

## Did you have anything in your life that changed you completely? Maybe some event, realization, or thoughts changed the direction you go??

One thing that has defined my life is my inclination to take the road less traveled. While in university, many of my friends chose to spend their summers in popular destinations like New York or LA, living with fellow Irish people and frequenting Irish bars. I was tempted to follow suit, but a friend suggested something entirely different. They proposed traveling to Israel, Palestine, and Jordan to explore those regions. As I was studying to become a journalist, this opportunity intrigued me.

At around 18 or 19 years old, we embarked on a journey through that part of the world, spending three months working and traveling. We faced significant challenges, including seeking shelter in bomb shelters due to shelling by Hezbollah. To save money, we even lived on the roof of a hostel in Jerusalem for a month. Throughout our travels, we encountered people from various countries and cultures, which broadened my horizons.

I learned that although Ireland is a great country, there is much more to explore beyond its borders. This experience taught me the value of seeking out adventures in less obvious places. However, one of the most defining moments in my life occurred in 2002 or 2003. I was between jobs and decided to visit some friends who were teaching English in Korea. While riding a subway train in Seoul, I sat next to a man who pulled out a phone from his pocket and started watching Spider-Man 2 on it. This was a revelation for me because, at the time, phones in Europe didn't even have color screens or cameras (I had a Nokia 3310 back at that time). Witnessing the potential of that phone, I realized it was the future.

Prior to that encounter, I had been working as a journalist in a radio station, advocating for podcasts, online content, and blogging. However, seeing that guy on the subway made me realize that there was an even greater opportunity awaiting. It became the catalyst for starting my first company. If I hadn't taken that trip or sat next to that guy on the subway, I would likely still be a journalist at a radio station. It was a chance encounter that changed the course of my life. It's amazing how a simple decision to embark on an adventurous journey can lead to unforeseen opportunities.

## What drives you?

I believe my desire for a deeper understanding of how and why things work drives much of my motivation. Considering our limited time on this planet—perhaps 60, 70, 80, or if we're lucky, 100 years—I've come to realize that I won't be able to experience everything. Just this morning, I saw a picture of someone capturing the sunrise in Nantucket, and I thought it was amazing. However, it also occurred to me that I might never get the chance to go there. While I would love to visit, there's a good chance it may remain a dream. This realization fuels my desire to embrace as many experiences as possible and to continually learn.

We live in an incredible world with access to the internet and vast amounts of knowledge. Unlike my parents or grandparents, who lacked such resources, I feel a deep thirst to expand my understanding and comprehend how the world works. This thirst for knowledge drives me forward. Additionally, I strive to spend the majority of my time with intelligent and inspiring individuals. This connects to my earlier mention of a small group of close friends, loyalty, and having fun. Yesterday, during a boat trip, a few portfolio companies joined us. The evening turned into an incredible experience filled with the exchange of ideas. While we did discuss the companies, most of the time was spent on other engaging topics. These are the kinds of interactions that truly motivate me. I constantly seek opportunities to maximize the number of evenings spent with such remarkable people and to engage in meaningful conversations.

## What is more important, the outcome or the process?

I believe it's a combination of both. However, personally, I lean more towards enjoying the process itself. It's an iterative journey filled with testing, learning, failing, picking oneself up, and trying again. Along the way, there's hope for eventual success. I'm a firm believer in the Amazon mantra of starting with the end in mind. Whether it's making investments, working on side projects, or anything else, I like to envision the final release and imagine a thousand people using it. This allows me to break down the steps required to reach that point. The steps themselves are the most fascinating part. Once a product is released and in the hands of numerous people, it no longer solely belongs to me. It becomes a shared experience. Therefore, for me, the process is where I can truly explore and experiment. As for the outcome, it's beyond our control. I've invested in companies or pursued side projects that I believed were surefire successes, but public reception is unpredictable. People's reactions and preferences cannot be accurately predicted. However, what I can control is how I engage in the process, how I enjoy it, and what I learn from it.

## Are you a proactive or reactive person??

As I reflect on it, I find myself leaning more towards a reactive approach, although it's influenced by both sides to some extent. The degree of reactivity or proactivity tends to vary depending on the aspect of my life. When it comes to business, with around a hundred portfolio companies, the nature of the work necessitates a reactive approach. I often receive calls when something goes wrong, and I have to swiftly address the issue and find solutions. On the other hand, as a parent to a two-year-old son, it involves a mixture of proactive and reactive measures. While there is certainly reactivity involved, there is also a significant amount of proactive thinking. I find myself constantly contemplating how to encourage him to consume more vegetables or develop skills such as playing football and improving hand-eye coordination. Different areas of life demand slightly different approaches. Overall, however, I find myself leaning more towards a reactive mode in general.

## When you make decisions, do you rely on analytics and rational thinking or emotions and feelings?

When it comes to decision-making, I rely heavily on emotions and instincts. I trust my gut feelings most of the time. While I would like to say that I'm improving on the analytical side, the truth is I'm still working on it. Fortunately, I have intelligent and analytical individuals in my life who assist me in making major decisions. Occasionally, I reach out to them, presenting my thoughts on a matter and they provide me with a thorough analysis.

However, the majority of the significant decisions I've made in life have been based almost entirely on gut feelings. This applies to everything, including quitting. In fact, when I started my company, the pivotal moment that led me to go to Korea occurred when I went to the office one day after having a couple of beers the night before with a few friends. Feeling a bit foggy headed in the morning, I sat in the office and realized that this wasn't the path I wanted for myself in the next 10, 15, or 20 years. Without a second thought, I sent a resignation email, around 6:30 in the morning. When my boss arrived at 8:30 or 9, he was genuinely shocked. I went home and shared the news with my girlfriend and parents, and while everyone thought I was crazy for not discussing it first, it simply felt like the right decision. So, without a doubt, my gut instincts have guided me.

## Theoretical question if you were to lose all of your businesses, what would happen to you? What will you do?

I hope I would have a useful enough set of skills to pursue something else. If the VC or investing world were suddenly taken away from me, I believe I would manage. I'm not a bad cook, so I could at least prepare meals for people, especially in extreme situations. However, it would definitely upset me because I have developed a fondness for many of the companies I work with, and more importantly, I value the relationships I have with their founders. Losing that group of people would be a significant loss to my social circle, and I would miss the intellectual challenges that come with collaborating with them. In such a scenario, I imagine I would immerse myself in reading books to fill the void, but I would likely struggle to find something as both challenging and rewarding as what I currently do. Perhaps I would consider going back to being a journalist, as I have done in the past.

## What is your favorite dish??

Lasagna. When prepared perfectly, it's one of the most satisfying meals in the world. I also adore seafood, particularly mussels and clams, especially when they're served with spaghetti vongole. If I were cooking dinner, I would choose spaghetti vongole without hesitation—I could eat it all day long. Interestingly, my kid shares my love for lasagna, so we often enjoy it together. Additionally, we have a smoker in our backyard, and I love experimenting with various dishes on it. Cooking brings me immense joy.

## How do you feel about the people in general?

Look, I believe that most people, whether they are acquaintances, friends, or strangers, are simply trying their best in an increasingly strange, sometimes even scary, world. It reminds me of what people used to say about Israel when I visited there. They would describe the locals as prickly pears—tough on the outside but incredibly sweet and great once you get to know them. I feel like I can relate to that description in a way. I can engage in conversations at networking events and interact with people quite openly. However, when it comes to building deeper relationships, it takes time for me to truly understand and trust others. So, overall, I consider myself a people person.

On the flip side, after attending a conference like this, I'll need some downtime and I would need to avoid in-person meetings for about a week afterward or take the entire weekend to decompress. During this time, I find solace in sitting quietly and listening to music. One of the advantages of flying back home is that I can put on my headphones and immerse myself in music for the entire two-and-a-half-hour journey. I don't have to engage in any conversation or speak a single word. It's a time when I can fully relax and enjoy a break from social interactions.

So, it's a combination of genuinely enjoying being around people while also appreciating the moments of solitude and recharge

## What makes you happy??

I find joy in spending time with the people I love. It could be something as simple as having dinner and drinks with them, like we did last night. Every Saturday morning, I take my son to the bakery near our house, and we enjoy breakfast together. When I drop him off at nursery, we stop by the local coffee shop where I get my coffee and he has a little baby Chino. These everyday moments hold a special place in my heart. Now that my child sleeps better, I can have a peaceful dinner with my wife without constantly running up and down the stairs. It's the little things like these that bring me immense happiness.

Music is another passion of mine. I have a deep love for it. I cherish those moments when I can listen to my favorite bands uninterrupted while cooking dinner. It's a blissful experience, and it's as close to heaven as I can imagine.

## Can you shift from work and problems and be with your family and be with them?

Yeah, I feel fortunate in a way because my wife has a completely different profession. She works as a lecturer in public health and psychology at one of the universities in London. So when I come home in the evening, we don't discuss tech or startups or anything related to my work. It's a refreshing change of topic. It's also nice for me to switch off and focus on other aspects of life. When our child comes home from nursery at 5 p.m., I try my best to disconnect from work for a couple of hours. There's something therapeutic about the mechanical and methodical process of chopping onions or preparing food. It's similar to coding, where you follow a set process and aim for a positive outcome. Cooking allows me to decompress and unwind.

In the past, I've experienced burnout because I didn't understand the importance of having an off switch and taking time to decompress. Now, I've realized the significance of it. I've witnessed friends and fellow founders who struggle with this concept, and I try to encourage them to find a balance. It's crucial to acknowledge that nobody can function at full capacity 24 hours a day. While there may be occasional all-nighters or intense workweeks in the early stages of a company, making it a habit is detrimental to mental health and relationships. I'm grateful that I've learned this lesson, even if it took me until the age of 44 to fully understand and embrace my need for an off switch. Once I discovered it, it brought me a great deal of happiness.

## How do you react to pleasant and unpleasant situations??

I believe this is an area where I need to improve. When faced with unpleasant situations, I tend to overthink them. I can spend hours, days, or even weeks dwelling on a situation that could probably be resolved with a short conversation, maybe even just a minute. However, in my mind, I keep replaying all the possible outcomes, getting trapped in a cycle of overthinking. I wouldn't say I handle unpleasant situations brilliantly. Interestingly, when it comes to catastrophically bad news, it's somewhat easier to deal with because I can be reactive and focused in the moment. I quickly figure out what needs to be done. But when it's more of an awkward or uncomfortable situation, I tend to overthink it excessively.

I've tried various methods to overcome this. I've attempted therapy, used apps, and practiced meditation. However, the one thing that has helped me the most is running, which I started during the lockdown. When I find myself spiraling into negativity and feeling overwhelmed, going out for a 30-minute or one-hour run shifts my focus entirely. I concentrate on the physical activity, trying to keep going without giving in to exhaustion. Running helps clear my mind of all the overthinking and allows me to process my thoughts. When I return, I often realize that the things I worried about weren't as bad as I anticipated. In many instances, the conversations or actions that contribute to unpleasant situations were far less daunting than I imagined. I've spent countless hours agonizing over difficult decisions, like letting someone go or delivering unwelcome news to a company, only to find that the actual outcome was much more manageable. It's a valuable lesson I've learned—that the anticipation of the situation is often worse than the reality.

There are certainly many areas of my life that I would like to improve upon, and dealing with difficult and unpleasant situations is a significant work in progress for me.

## How do you understand the term "goal of the soul"??

For me, the goal is to make a positive contribution to as many people as possible and improve their well-being and happiness. I think about this in the context of my family, considering how I can be there for my parents, my wife, and my child, as well as allocating time for others. I am fortunate to be in a position where I can have a positive impact on people's lives. It would be foolish not to strive for that and make the most of it. That's what motivates me in the morning. When I walk away from an event or a meeting knowing that I've genuinely helped someone with advice or a conversation, I can't even begin to describe the fulfillment I feel. Likewise, when I see my child deeply engaged with a toy or book that I bought for them, it's a crowning moment. It's the kind of moment that makes me smile and think, "I can rest a little easier tonight."

## How will you help your kid to find the "goal of the soul"??

I have some friends who have a very different parenting style compared to mine. Their approach involves organizing every minute of their child's day. In contrast, I prefer a more free-range style. As I mentioned earlier, I was fortunate that my parents allowed me to pursue my interests. Currently, my child is fascinated by garbage trucks and fire engines. So, we watch YouTube videos about them, not just cartoons but also educational videos that visit fire stations and explore their workings. If next week he wants to learn about suitcases, that's great too. With kids, I've learned that it's important to follow their curiosity and let them explore different topics. If my child has the same level of curiosity as I do, which he seems to display, I believe it's important to nurture it by providing books, videos, podcasts, or anything else he's interested in. However, I don't want to impose any specific career aspirations on him. I simply want him to find his own path and discover what brings him happiness. Whether he becomes a chef, a window cleaner, an entrepreneur, or something else entirely, it's his choice. People often comment that my child will be an entrepreneur like me, but I think it's premature to predict his future at such a young age. He's currently more interested in garbage trucks. I find it unfair when people make assumptions based on childhood interests or other factors.?

I have a younger brother who is 10 years younger than me, and he attended the same school I did. Having such an age gap often leads people to make comparisons, like saying, "Oh, Eamon was X when he was here." I find this kind of unfair. Similarly, because my father was a doctor and his father was a doctor, there was an expectation that I would also become a doctor. Although my parents didn't hold that expectation, many others assumed it. I don't want that to happen with my child. I want him to discover his own path and pursue what he truly desires. If he excels in it, that's great. And if he struggles, we'll find a way to navigate through those challenges when the time comes.

## Do you sleep a lot, and do you eat a lot??

I sleep not as much as I'd like to. I track my sleep with the Oura ring now. One interesting thing I learned after having a baby is how to fall asleep quickly. During the weekends, I often take a nap for around 30 minutes to an hour. Ideally, I aim for six to eight hours of sleep each night, and I usually succeed in achieving that. However, I would definitely like to sleep more if possible. On the bright side, I generally sleep well and get an adequate amount of deep sleep.

As for eating, I tend to consume a bit too much, which is why I have to compensate by running. At home, we make it a point to have breakfast and dinner together as a family. I admit to indulging in a few too many sweets in the evenings. When it comes to meetings during the week, I try to schedule them during breakfast, lunch, or dinner. This way, I not only have a productive meeting but also get to enjoy a nice meal outside, often opting for a delicious sandwich that's better than what I could make at home.

## Could you please share with us your inner wins?

I believe most of the significant moments I've had are business-related. Around 10 years ago, or maybe even longer now, I and a few friends developed an app called FarmVillain. It was a parody game inspired by the popular Facebook app, FarmVille. The app provided a fun and unique experience, allowing players to engage in peculiar activities such as salting their neighbor's land or burning down their barns. When we released the game, it quickly gained traction and eventually attracted hundreds of thousands, and later even millions, of players. It was a fantastic achievement. Alongside the financial rewards that came with it, the business itself ended up being acquired. However, the most significant personal victory for me was receiving fan mail. We would often receive emails from individuals who had experienced a dreadful day at work—getting laid off or receiving distressing news. They would describe how playing our game for just 10 minutes brought them laughter, providing a small moment of joy during their toughest times. Although we didn't receive hundreds of thousands of these emails, we did get quite a few. I remember reading each and every one of them and being amazed that our crazy idea, born one night in a bar in Dublin, had evolved into something that could bring a brief but meaningful escape to someone on the challenging days of their lives.

Another memorable moment was during my mentioned trip to Korea when we made the decision to start our own company. At that point, I had no clue about starting a business. I had never embarked on such a venture before, nor did I personally know anyone who had. Nonetheless, we took the plunge and began working in my friend's backyard, taking advantage of the pleasant summer weather. We were in uncharted territory, trying to navigate the creation of sales materials and other unfamiliar tasks. However, everything changed when we secured our first contract, approximately two or three months into the business. We partnered with a major telecommunications company, initially three in Ireland. I distinctly remember the moment we sat in their office, signing the contract with actual ink using a pen. It was a testament to how long ago it was, as nowadays digital signatures are the norm. In that instant, it struck me that someone was paying us for an idea we were still figuring out how to bring to life. It was truly amazing. Part of the satisfaction stemmed from the wealth of knowledge we gained along the way. We honed our pitching skills, learned to identify revenue opportunities, and tackled various aspects of the business. Nowadays, obtaining such information is much more accessible with resources like online platforms and podcasts. However, back then, it was a different story. Those experiences made it all the more remarkable.

There have been numerous instances where founders or friends have approached me, seeking advice on their situations. When they say, "I'm in this situation, what should I do?" I take a different approach. Instead of giving them direct instructions, my role is to help them understand the questions they should be asking themselves. I guide them by presenting different perspectives and considerations. One example of this was a rough situation involving a breakdown between founders a couple of years ago. Through our conversations, I was able to make a significant impact, and both founders later reached out to me, expressing gratitude for the difference those discussions made. They were able to navigate the situation amicably instead of experiencing a fiery and irreparable fallout. These instances were incredibly rewarding.

Nowadays, the most meaningful experiences for me are often family-related. Last year, I wrote a book, and in the book's foreword, I expressed gratitude to my parents for instilling in me a love for reading. Without their support, I wouldn't have been able to write a book. Witnessing my parents holding a copy of my book was a truly amazing moment. Similarly, spending quality time with my wife and experiencing those little moments when our child says a word or phrase that I'm certain I taught them brings immeasurable joy. These personal moments hold a level of significance that surpasses anything I've achieved in the business realm. However, the experiences and lessons from the business world also contribute to my overall fulfillment.

## What are your fundamental principles??

Honesty and integrity are probably among the most important qualities, right? I often emphasize to companies the significance of transparency. I inform them that I can offer assistance in areas I'm knowledgeable about, but I can't help with things I don't know. Unfortunately, many companies fail to communicate when things go wrong or inform you too late. Therefore, I consider these qualities extremely important.

Regarding loyalty, as I mentioned earlier, there aren't many instances where people have let me down or caused difficulties in our relationship. However, when it does happen, it's certainly not favorable.

Curiosity is another trait that holds great value for me. I personally possess a strong sense of curiosity and enjoy surrounding myself with similarly curious individuals. I believe they make excellent founders and even better friends. While there are people with whom I've had the same conversation for years, it's the ones with whom I can bounce around various ideas that truly captivate me. It's much more interesting and stimulating.

Lastly, a sense of humor is crucial. Life is short, and I've actually stopped turning on the news in the mornings due to its depressing nature, covering everything from climate change to wars. Therefore, being able to laugh and experience the positive emotions that come with it is vital. I appreciate people who don't take themselves too seriously and can have fun. It contributes significantly to a positive experience.

## Apart from cooking, do you have other activities that help you self-express?

I do a lot of writing. I have a column in one of the newspapers back home. We published a book last year and hopefully, I will write another one this year, although it might be more likely next year.?

Additionally, I enjoy playing music. I have a guitar, or actually a couple of guitars, in my office. During breaks between calls, I try to squeeze in a few minutes to play. I'm currently in the process of persuading my wife to let me buy a drum kit for the baby, but I might have to wait a couple more years for that. Listening to music and playing music are both incredibly important to me. I used to be in a band a long time ago, although we had aspirations without the necessary ability. Karaoke is another passion of mine. It's one of my favorite things to do in the world. Surprisingly, this is the only trip I've taken to Tallinn where I haven't ended up at a karaoke session. It's a fantastic way to bring people together, have some fun, and release any frustration or excitement by belting out songs.?

## Did you have people in your life who influenced you a lot or influencing you today??

Yeah, there have been quite a few, I suppose. Well, the obvious ones are my parents, both of them, in various ways. Another person who has been influential is Dylan Collins, a successful entrepreneur from back home in Ireland. He was a friend of a friend from university, and when we were starting our first company, I reached out to him for guidance and advice. He kindly helped us out and we've stayed in touch ever since. Coincidentally, he now lives near me in London, and we often have dinner together. He has gone on to build even more successful businesses, and we also share a love for cooking, so we enjoy nerding out about that too.

Then there's John Bradford, the person who brought Techstars to Europe. After my previous company failed, I began mentoring on Techstars to figure out my next steps. John, along with Chris and Greg, took me under their wings and allowed me to do more, even providing me with a desk for a few hours a day. Their continuous support led me to eventually join Techstars and work there for about seven or eight years. I still maintain regular conversations with John.

Jenny Fielding is another influential person in my life. We were colleagues at Techstars, and when I moved to New York in 2015 while my wife pursued her PhD, Jenny took me under her wing, introduced me to people, and provided tremendous help. We even set up a fund together and continue to collaborate. We have traveled together and she possesses a wealth of knowledge and connections. She is incredibly generous with her time, energy, and everything else.

I'm sure there are others I'm missing, but those are some of the significant ones.

Thank you!

P.S. You can find interviews with other prominent people?here .