FORTUNE -- Martin Varsavsky is one of Europe's leading technology entrepreneurs. He recently spoke to Fortune about startup trends in the UK and Europe, his take on Facebook (FB), David Cameron's startup initiative, US venture capital and other tech business. Varsavsky started Jazztel, Spain's second-largest telecom firm and Ya.com, now a division of France Telecom. He is currently the CEO of FON, a company which he founded. Investors include Google (GOOG), BT, Index Ventures, Atomico, and Sequioa.