Poland has a remarkable ability to fund early-stage innovations, but when it comes to scaling those projects, the country hits a wall. Piotr Baszak, representative of Freedom24 in Poland, argues that while Polish entrepreneurs are world-class at building prototypes, they often lose promising ventures to foreign capital because the local market lacks the appetite and mechanisms for later-stage investment.
Speaking to WNP.PL, Baszak pointed to the staggering 1.5 trillion Polish zloty sitting in bank deposits – money that could fuel the economy but remains idle. He noted that ambitious projects are frequently taken over by U.S. funds, citing Eleven Labs founder Mati Staniszewski as a prime example of a Polish talent who had to seek capital abroad.
The gap is not due to a lack of risk appetite, Baszak insists. Millions of Poles have invested in cryptocurrencies, proving they are willing to take chances. The real issue is a missing capital market infrastructure and a cultural tendency to focus on failure rather than success.
Education and the illusion of safe investing
Baszak highlighted the urgent need for financial literacy. He warned that social media and the promise of quick, risk-free gains are particularly dangerous for Generation Z. The problem is compounded by the rise of passive instruments like ETFs, which are marketed as safe but carry systemic risks that many investors fail to understand.
– The worst mindset is expecting fast money without risk – said Baszak. – Social media promotes this, but we should go in the opposite direction: acknowledge that risk exists and that investments don’t deliver returns overnight.
He explained that today’s markets are driven by 'small black swans’ – single statements can trigger massive volatility, amplified by algorithms. This environment rewards those who understand volatility rather than those chasing trends.
Space, AI, and the future of Poland’s capital market
Baszak is bullish on the space sector, arguing that in a few decades, conflicts will be won through space dominance. He sees projects like SpaceX’s IPO as long-term opportunities, especially given the dual-use nature of space technology for military and commercial purposes.
On artificial intelligence, he believes the sector will continue to grow but warns against treating it as a magic solution. – If we rely on AI to think for us, we will face problems – he cautioned. Critical thinking, interpersonal skills, and non-standard analysis remain irreplaceable.
Looking ahead, Baszak envisions a unified European capital market that would help Poland overcome its current stagnation. He argued that Poland, with its intellectual potential and lack of entrenchment, could become a driving force for the entire EU. Geopolitical risks, including the war in Ukraine, are not necessarily obstacles. – South Korea has been at war for decades and still thrives economically. For Poland, this is an opportunity rather than a threat – he concluded.
Źródło: WNP.PL, Fot. Freedom24
