Many start-up founders are captivated by the allure of wealth and the promise of spectacular exits, but for Thomas, this was never the primary goal. His true passion lies in the thrill of creation and the excitement of working strategically towards an objective alongside talented people from around the world.

“What motivates me most is the journey and discovery; financial rewards simply acknowledge the value created along the way,” Thomas says. “As an entrepreneur, the only limits you have are the ones you set for yourself. If you want more, you work harder, and eventually, the financial rewards will follow. But to me, money isn’t a number—it’s a means to freedom.” He laughs, adding, “Prestige isn’t what drives me—have you seen how I dress or what car I drive? What matters is the freedom and joy of discovery, the ability to do what I love.”

Despite his many successes, Thomas has also faced setbacks in his career, each of which made him stronger. He recalls that one of the first ventures he co-founded went bankrupt shortly after its launch. “I underestimated the complexities of succeeding as a product company in a new field and made the mistake of hiring the wrong people to run the business. The management team excelled in areas like building prototypes but lacked the necessary skills to secure funding and grow the business. I realized too late that I wasn’t looking closely enough behind the scenes, blinded by flattery and seemingly positive updates from the management team. I had to learn the hard way how insufficient financial control and approval rules can drag a company down. The biggest lesson I learned from that experience is that people and trust are everything. If you hire the wrong CEO, you're in serious trouble.”

Thomas also recalls an instance where he let himself be influenced by others to step down as the managing director of a company he co-founded, leading to its sale at a financial loss. “To this day, I truly regret my decision, as I did not complete the journey to the end and did not have enough conviction to resist other people’s influence. In doing so, I disappointed the investors who initially invested and believed in me. I learned that such a decision can greatly impact your reputation as a trustworthy and reliable person. I vowed never to make that mistake again and have kept my promises ever since.”

‘If you hire the wrong CEO,
you’re in serious trouble.’

More Than Ideas: Focus and Dealing with People

Today, as Thomas mentors and invests in young entrepreneurs and founders, he emphasizes that beyond innovative ideas, what a founder truly needs is focus and patience. He stresses the importance of taking small, sensible steps rather than merely chasing big dreams. When evaluating founders, he looks for resilience, team spirit, and humility—qualities essential for continuous learning and understanding one's limits.

He recalls advising the CEO of a start-up, who excelled in business development but struggled with scaling the business, to step down and take another role in the company. "Not only did he choose not to listen to me, but he also did not listen to other people”. As a result, many key people left the ship, one of them pointing out, 'The fish stinks from the head.' The company ultimately failed to progress and was sold for less than what the venture capitalists had invested," Thomas recounts.

Despite his experiences, Thomas admits he is still trying to crack the code of what makes the perfect founder and venture. "There have been occasions where I realized too late that the founding team of a startup I invested in wasn't actually suited to building a company," he says.

Startups, especially those introducing groundbreaking innovations, often struggle when their founding team is composed of individuals with a singular focus, like the inventor's passion for the product, the lawyer’s tendency to avoid risks, or the finance person’s urge to control the numbers and limit spending. Success in a startup typically requires a balanced mix of skills, talents, and mindsets. As a seasoned U.S. entrepreneur once observed, "The core of any successful startup is the combination of an engineer or scientist and a good salesperson." This collaboration creates a winning formula.

Thomas and his team at LSP, Munich, 2023.

While deeply passionate, inventors may sometimes resist other perspectives, which can limit the startup's growth. Thomas emphasizes that for a startup to succeed, building a team that sees an idea or patent as just one part of a broader business strategy is crucial. Success comes from respecting diverse viewpoints, building trust with clients, and staying adaptable. Although inventors can be challenging to work with due to their strong attachment to their ideas, fostering collaboration and flexibility within the team can turn these challenges into strengths.

He continues, "If you have a good idea, you need to convince a potential client or buyer of the idea —who may also not be as technically knowledgeable as you—in simple words and with clear illustrations that also non-technical people can easily understand. It's crucial to gain their confidence and trust. Then you need to invest, build a product, and team up with trustworthy and decisive key executives in big organizations, especially during the pilot customer phase, making them part of your journey."

As an inventor himself, Thomas sees his creations as just one element in his entrepreneurial roller coaster. "Of course, an idea and enthusiasm are important, and when I see that my innovations can actually save human lives—like the automatic emergency brake (AEB), for instance—I feel very proud. But I'm not in this for the money. I love working with people, creating something with a team, and building a long-lasting network with team members, fellow entrepreneurs, and customers.

Collaboration with customers should extend beyond work; it should also be a cultural experience and a source of joy. Thomas fondly recalls organizing a go-kart race event immediately after a kickoff meeting with a Korean customer to encourage team building. Pairing a Korean and a German employee in each go-kart duo I ensured that a team comprising members from both companies would emerge as the winner at the end of the race.