Mikko Suonenlahti - On Capital, Governance and the Scaling Problem

Ari Tulla - On Scale, Focus and Finland’s AI Bet

In this sixth episode of AVANTO, Ari Tulla speaks from San Francisco. Ari is Co-founder and CEO of Elo Health, formerly at Nokia in Silicon Valley, founder of BetterDoctor, early investor in Oura, Verda, Donut Lab, and Verge, and LP in Lifeline Ventures and ByFounders. He brings a perspective no previous guest in the series could: he left Finland, built in Silicon Valley, and invested back into the Nordic ecosystem. The conversation starts inside Nokia. For Ari, Nokia was not beaten by lack of intelligence. It had extraordinary engineers, deep talent, and global reach. What it lacked was focus. “If you don’t focus, you will never win.” From there, the episode moves to Silicon Valley, BetterDoctor, Oura, Finnish growth capital, scale-up leadership, visibility, Donut Lab, Linear, Singapore, the Finnish Long Drink, and Ari’s boldest idea: making every Finnish citizen native with AI. His diagnosis is direct, sometimes uncomfortable, but ultimately optimistic. Finland’s problem is not that nothing works. Much of the ecosystem now works far better than Finns often admit. Capital exists at the beginning. International capital can be reached later. The country has talent, examples, institutions, and technical credibility. The problem is what comes next. Finland must build more people capable of scaling companies globally. It must become more visible. It must focus. And it must make bold national choices before other countries do. Episode 6 — Ari Tulla On Scale, Focus and Finland’s AI Bet

Jarmo Sareva - On Reputation, Boldness and Finland Seen from New York

Jarmo Sareva is the Consul General of Finland in New York and former Ambassador for Innovation. From New York — the city where global capital decides what to look at and what to overlook — he describes how Finland is read from the outside, and what that view reveals about the country itself. Reputation is real, but limited. Finnish modesty has a cost in the global market. Reliability is a virtue at home and a liability abroad. Finland is now behind Estonia in per capita exports. The reasons, in Jarmo's words, are multifaceted: cultural, structural, and "between the ears of so many people." Episode 5 of AVANTO. Following Pauli Heikkilä, Mikko Suonenlahti, Johannes Korpela and Petri Lahesmaa.

Petri Lahesmaa - On Brussels, Power and Finland's Place in Europe

Most people assume Brussels is a closed system. That the big countries set the rules, and everyone else follows. Petri Lahesmaa has spent more than 25 years inside those institutions. And his view is different. Small countries can move faster. Alliances matter more than size. And the door is open — if you walk through it with data, with solutions, and with something to show. The problem is that Finland doesn't always walk through it. In this conversation, we talk about how power actually works in Brussels, what Finland gets right, what it gets wrong, and what it would take for Finland to stop hiding what it has.

Johannes Korpela - The Builder's View

Johannes Korpela sees it every day. The talent is there. The founders are there. The ambition is there. But if you work as hard as a top athlete to build a company, it isn't always recognized. He is CEO of Wave Ventures and co-founder of Founders House Helsinki. He spends his days with founders trying to build global companies — and sees how things actuallyplay out in practice. Not in theory. On the ground. And what he sees is not a lack of ambition — but an environment that doesn't always fully support it.

Mikko Suonenlahti - On Capital, Governance and the Scaling Problem

In Episode 1, Pauli Heikkilä argued that Finland’s difficulty building globally dominant companies may be largely cultural. In this second conversation, venture capitalist Mikko Suonenlahti offers a different perspective. After five decades inside companies, venture funds and boardrooms, his diagnosis is more structural. Finland produces excellent engineers. Early-stage capital exists. But the system starts to break when companies try to scale. “When companies need a €10–20–50 million round, that capital is not available in Finland.” We discuss what happens at that moment, how capital shapes strategy, how companies evolve when international investors enter, and why some ecosystems scale more aggressively than others. The conversation moves from venture capital to boardroom dynamics, from M-Files to Estonia’s ecosystem, and even back to the 17th century, to understand how capital accumulation shaped Nordic economies.