Fernando Lelo de Larrea

Founder, Rumbo. Industrial Decarbonization & Climate Tech. Southern Europe. Husband & Father of 4. Reader.

[Fernando Lelo de Larrea @ferlelo]

Ayuso: 'México no existió hasta que llegaron los españoles.'
Según Mexico, A History: el nombre 'España' apareció en mapas por primera vez décadas después de la conquista — casi al mismo tiempo que los mexicanos comenzaron a llamarse mexicanos. Los dos términos nacieron juntos.

[Fernando Lelo de Larrea @ferlelo]

I spent a decade backing founders in Latin America.
Then I moved to Madrid and started again — different geography, different technologies, same conviction that the most important companies are built by people who see what others don't.
The thesis evolves. The instinct doesn't.

[Fernando Lelo de Larrea @ferlelo]

What to Make of a Life https://t.co/aoFW4pcI1i

[Fernando Lelo de Larrea @ferlelo]

What Rumbo Is Building https://t.co/oF0BL2aWGi

[Fernando Lelo de Larrea @ferlelo]

Southern Europe is not the periphery of the European economy.
It's the frontier of the next industrial cycle — energy, materials, manufacturing, geography.
Capital hasn't figured that out yet. That's the opportunity.

[Fernando Lelo de Larrea @ferlelo]

Mexico is now a cheaper manufacturing destination than China.
That is not competitiveness. That is a race to the bottom that Mexico is winning.
The nearshoring window is open. The vessel isn't ready. I wrote something: https://t.co/eDoywC384n

[Fernando Lelo de Larrea @ferlelo]

Dead Calm https://t.co/WXhmCVVEd1

[Fernando Lelo de Larrea @ferlelo]

Capital structure is strategy.
Most founders think about it too late — after the product, after the team, after the first customers.
The best ones think about it on day one.

[Fernando Lelo de Larrea @ferlelo]

Climate action has been framed as a cost for 20 years. Stern's new book argues that's the wrong frame entirely. The transition is the growth story. Not metaphorically. Economically. My reading →

https://t.co/VXsRCNfKCC

[Fernando Lelo de Larrea @ferlelo]

The Transition Is the Growth Story https://t.co/VXsRCNfKCC

[Fernando Lelo de Larrea @ferlelo]

What I read shapes how I invest.
My 2025 reading list — 60+ books on industry, capital, science, and the examined life.
https://t.co/8jsMQRkWPi

[Fernando Lelo de Larrea @ferlelo]

The Discipline of Not Knowing https://t.co/4GcKoIrH93

[Fernando Lelo de Larrea @ferlelo]

Decarbonization is not a cost to be managed. It's the next wave of industrial competitiveness.
The companies that understand this will define European manufacturing for the next 30 years.

[Fernando Lelo de Larrea @ferlelo]

The hardest problem in climate tech isn't the science. It's the financial architecture.
Why hard tech stalls between lab and industrial scale — and what it would take to fix it.
https://t.co/j8sS9DpwS3

[Fernando Lelo de Larrea @ferlelo]

Starting to write more regularly again. Founder of Rumbo, focused on industrial decarbonization and climate tech in Europe. Essays at https://t.co/GjYi1DvVR5 — on capital, industry, and occasionally the examined life.

[Fernando Lelo de Larrea @ferlelo]

Let's read each other on @substack: https://t.co/p31OUOh8Bi

[Fernando Lelo de Larrea @ferlelo]

Let's read each other on @Substack https://t.co/xB1BQtPh1G

[Fernando Lelo de Larrea @ferlelo]

The Hard Thing about Hard Tech https://t.co/yR2AfDChyp

[Fernando Lelo de Larrea @ferlelo]

Living as the Argument

https://t.co/ki88xWpoqU