Mike Lynch: UK markets failing technology firms

"There are a series of areas which could be massive businesses - cyber security is one; wearables, augmented reality and vision is another. The data that genetic sequencing generates will be huge. We're at a time when there's incredible opportunity, as so much of the infrastructure has been laid down, now is the time to do amazing things with it.

He admitted he found some areas of contemporary technology “a bit depressing”, adding: “In my early days when I was creating synthesisers, it would take you a year with loads of programming and the things would be worth a fortune. Now you can get a free app on the iPhone, but that's the nature of how things move on.”

Mr Lynch touched on his on-going legal battle with HP, who have accused his former company Autonomy of unlawful accounting and misrepresentation. Investigations by the UK's SFO and America's Department of Justice are also ongoing.

When asked about HP, he described the takeover process of businesses as being “a bit like a marriage”, and that in the UK market the acquired company has “almost no control over what goes on”. Mr Lynch has counter-accused HP of mismanaging Autonomy.

"I had a friend who always used to say the same thing to me if we'd gone into a meeting and someone hadn't got it, or if they were being difficult and we'd had to explain to them why we were great because they just didn't get it,” he said. “I used to come out and say 'God, that was terrible, they didn't understand'. And he'd turn to me and say, ‘That's where our opportunity is, that's why we have opportunity’. Trust me, from what I saw of HP, we have a lot of opportunity."

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