In beta. Have a gander.
In beta. Have a gander.
Thanks to Chris from http://kintulabs.com/ for the link.
A must read :: http://whoo.ps/2016/08/31/a-junior-vc
There is much to glean from the read but some spot I like:
Fear not, that wide open new paradigm does exist. What’s happening today on the Bitcoin blockchain and other new blockchains is incredibly exciting and intellectually consistent with Schumpeter’s model of creative destruction and the cyclical history of communications networks. If you still view Bitcoin as a techno/anarchic/utoptian/libertarian model for consumer payments, you haven’t been paying attention.
Very true. It is early days in the blockchain world and anyone working on anything cool in the space is really just getting started, so hard to tell traction and revenue models yet. This area is especially perplexing for me because I find it so interesting but yet it is not easy to grok and hard to separate the charlatans from the real entrepreneurs.
This is awesome too:
But more importantly, talk to people who are building things. Don’t just talk to founders of investible companies, but also talk to people who are experts in their field or following modes of thought that contravene mainstream thinking. Play with their API’s and go deep in forums, even if there’s no investment in sight. Mess around in the corners of the internet.
Structuring my time is really hard now since I have tons of folks to meet, lots of fund mechanics to learn, a team to manage and also need to find time to learn. Not complaining but time management becomes a big deal.
It is a difficult job. As I described at the beginning of this post, I was naïve when I entered this business. Two years later, I have graduated from being naïve to being dumb, because now I am no longer so naïve that I fail to realize all the things that are happening in the world of technology that I don’t yet understand. The license to study these things is what makes it such a privilege to work in venture capital.
I am super lucky to be where I am. If you ever hear me complain – slap me.
If you don’t already follow Suster on snapchat then I’ll give you a chance to go get that done now – that is if you use snapchat. 😉
I always appreciate when he writes though – here is one of his latest posts.
There is so much in it to dissect. Much of it I think is a phenomenon unique to the USA given the startup climate there and the proliferation of funds. When I look at Singapore and the regions I am focusing on, this type of frenzy doesn’t really exist yet except for a few deals. However there is a lot to learn from what Mark is saying.
I am going to pause here for a few disclaimers. I am totally new at what I am now working on which means I approach it with a beginner’s mind and with the realization that going slow is perfectly acceptable. I have a new craft to learn and it would seem that being in a hurry would just amplify my mistakes
I plan on blogging more as I share lessons from my new craft and as I try and explain what it is we hope to accomplish at SeedPlus. I am also not speaking for my team here since SeedPlus is a team effort.
Just a reminder on our launch here.
Another post here on my personal journey.
Given all these disclaimers, I would like to share some of my own personal beliefs. When we launched SeedPlus the initial reaction was that this is just another seed fund. I have been hesitant to retort this much since I believe that actions speak louder than words. I am also trying to listen more, learn more, speak less and perfect my craft.
Yes – there are a lot of seed funds in the region. Is there room for more? Sure. Simply put – the region has so much growth in store for it that there is no end to the need for capital or for more successful startups to take the region to new levels. I feel there is no better time to work on global startups from Singapore starting from their seed stage.
Our goal at SeedPlus is to invest with conviction, bring our operating experience to the problem, and think about the long term potential of the startup. I know this a long game and it will take time to bear fruit. Therefore anything I say at this point is just sharing since the only proof of our work will come later. Given this, I feel quite strongly that we offer something unique to the region but again time will tell.
So just as the startups should choose wisely, at SeedPlus we also feel the same way about how we choose who to invest in. It’s a long game for anyone truly serious about creating a successful enterprise.
Enjoy your Sunday!
I wrote this yesterday and realized I left something out.
In trying out that stupid taxi app that only offered a botched Facebook login or 7 fields, I was reminded of why didn’t Apple do something about auth for apps? The iTunes ID has to be used by anyone getting an app and it would seem to me if Apple got behind something simple for iOS apps that is tied to the iTunes ID – it would simplify things a bit.
Furthermore it is time to Apple to combine this with dropping the commission from 30% to 20% to fuel more use of payments. They make enough money – they don’t need to make it on the backs of this charge.
Last post from Samui. Back home and on to the next thing.
I didn’t get to attend the TIA conference but was able to catch up with lots of folks who were in town and went to a nice event by Sequoia.
Say what you will about our current times but Singapore is absolutely hopping right now and is the center of the startup universe for SEA region and India. Love it. So fortunate to be here at this time.
I have many Twitter friends that I sometimes get to meet and Josh would be one of those. We finally got to hang out and chat a bit.
As a writer, he of course decided to spring this on the Internet after we chatted.
Good stuff. As I always tell people – OTT in emerging markets is really just kicking off and has a long ways to go. I wouldn’t profess to know where it all might land, but it’s a crazy hot space regardless.
One comment – that last little quote by iFlix – we all know 1 million is just registered users. Paying subs will be some marginal single digit percentage point of that total number. As I always say – release real stats or none at all.
Good chatting with you Josh – I guess we will keep up the Twitter DM dialogue going till we meet again.
I’ll start with this write up from TIA.
Yesterday, Jungle Ventures, hosted a morning with Ratan Tata and the founders of their portfolio companies – then later in the day an event with their LP’s.
I was allowed to tag along and spend some time hanging with the crew.
This is the second time in my life I have met him but this time I was offered a whole day and a chance to speak with him directly for a bit while we had lunch.
First off, I am just stunned by how humble he was and extremely gracious with his time and thoughts.
The article highlighted his frequent response of “I don’t know”, but it was usually his response to an unclear or unconcise question. Or a question he just didn’t have an answer to.
That being said he always had advice or thoughts but just did not always give a specific answer. He was more into the theory or lesson to be learned in discovering your own answer and any advice he could offer to enhance your discovery.
I could go on and on with what I learned and the stories around Nano, Land Rover, Jaguar, and just running a huge org were priceless.
I was further stunned to catch him in the lobby, alone, carrying his hotel reciept after checking himself out.
Just a man of the people. Which is sometimes hard to grasp given his stature.
It further cements his advice about ethics, empathy and solving real problems of the world.
I am still in awe.
I haven’t seen much mainstream coverage of this move. We all know Google battled hard to do a non Oracle Java but seems that didn’t work out. Legally I always thought Google was wrong but of course I am not a fan of Oracle and the way they steward Java.
Read this about the latest on Oracle and Android.
If you thought overall Android performance sucks now, I think it does, it sure won’t get any better with issues like this : Google has of course its own Android UI framework. Swing will now sit on every Android phone, using up resources.
I don’t know if this is the final word on the subject or if Google has other ideas but I sure do appreciate Apple’s native stack designed from the ground up for mobile.
I won’t argue the point that Android is huge but this isn’t a good sign of where it is heading.
If anyone has some good opposing links or counters please chime in using the comments.
I was hoping Tim Bray had covered it but not yet.