I had not done an Ask Me Anything (AMA) session in over a year which led to many questions on a wide variety of topics: AI, augmented reality, crypto, macro and much more.
Here are the key questions we covered:
\u2022 00:01:44 Artificial Intelligence: Where are we now? Where are we heading? What is the timeline? Why is FJ Labs a way contrarian on the AI trend?
\u2022 00:09:42 What's your perspective on augmented reality? Is the Apple Vision Pro a revolution? And what is the timing for that to filter into our day-to-day life?
\u2022 00:15:28 What was the fundamental inspiration for me to start OLX?
\u2022 00:20:45 Can you give us some context or details on Midas?
\u2022 00:23:15 Is there any way for a small retail investor to invest in early financing rounds for startups? If yes, how?
\u2022 00:24:44 At for pre-seed rounds, what should be the GMV to get your attention? Let's say a new marketplace. What GMV would be impressive in the first month, six months, and one year?
\u2022 00:25:39 What do I expect to see at the seed round?
\u2022 00:26:41 What\u2019s the correct take rate?
\u2022 00:27:56 What are my current perspectives on the crypto market?
\u2022 00:34:43 Does FJ Labs have an activist approach when investing in startups? How are you supporting the founders?
\u2022 00:38:03 Is there going to be a fiat currency crisis where the dollar will be replaced? Will something like BTC become the reserve currency?
\u2022 00:41:18 Have you decided on your next adventure for outdoor travel that you'd like to tackle?
\u2022 00:43:11 I've heard that a startup should recoup their fully loaded Customer Acquisition Cost (CAC) within 6 months based on the contribution margin and then triple that amount within 18 months. Could you confirm if these numbers are accurate?
\u2022 00:44:30 What should the first 3-6 months of a new startup look like? Talk to potential customers? Generate demand? Build a prototype? Validate hypotheses? Etc.
\u2022 00:46:33 Does FJ Labs have an anti-portfolio?
\u2022 00:50:28 Do you have any thoughts on the longevity industry? Do you think platforms like Hims or Ro will evolve in that direction, or will there be a new player?
\u2022 00:53:33 I\u2019ve listed things that I heard you consider when rating a startup. (1.) Team (2.) Unit Economics, significant TAM (3.) Fair deal terms, reasonable valuation, (4.) is it beneficial to the world, aligning the general direction of global trends, offering new opportunities to those with fewer opportunities. Is there anything else?
\u2022 00:55:02 What build did I play at Elden Ring?
\u2022 00:56:00 Did you have any mentor in your angel investor career? If yes, who is it? And how does the person help you?
\u2022 00:58:49 Are you tempted to invest in AI?
\u2022 01:00:08 What\u2019s the most overused buzzword that you can't stand?
\u2022 01:00:37 What valuation of a company is risky, yet a bit safe and worth the squeeze?
\u2022 01:01:27 Any particular places or people you prefer to keep up with your bio health updates?
\u2022 01:02:38 What is a surprisingly cheap and effective marketing channels?
\u2022 01:03:50 As an investor, doesn't make sense to look for opportunities other than AI even though AI is \u201chot\u201d now?
\u2022 01:05:53 What are the most incredible business opportunities you have seen in preventative health lately?
\u2022 01:07:04 Can you name successful blockchain based marketplaces that work with goods other than NFTs?
\u202201:11:39 Regarding Firgure.ai, when, in your opinion will we see humanoid robots in our daily lives? 3 years? 5 years? 20 years?
\u202201:14:15 Do you think asteroid mining is an industry that will become feasible or profitable within our lifetime?
\u2022 01:16:08 We continue to see economic sentiment down, given the cost of money felt by consumers. Curious, given how you feel, especially the dire US consumers in Macroeconomic update where you see bright falls, bright spots in the landscape?
\u2022 01:19:35 Whom do you think had the most impact on your investing thesis?
\u2022 01:21:16 Is there something you've seen in recent startup pitches that you think the general public should know?
\u2022 01:23:00 When it comes to crypto, how game changing do you consider the ETFs to be going forward?
\u2022 01:24:22 What is the ideal number of founders per startup? Two, with one being technically oriented the other more focused on people and sales?
\u2022 01:25:43 What are the most important skills that students should develop in order to work as an analyst in a VC fund? What are the qualities you're looking for when recruiting graduates?
\u2022 01:27:34 If you live in a different time past or present, what do you think you would do professionally or future?
\u2022 01:32:08 My main competitor received ~$200 million in recent debt round in 2021, and $490 million in 2019 led by SoftBank. I think that's a good sign for me because they started 2007.
\u2022 So now they're too big and too slow. My startup is like a small pirate ship that can easily change direction, add new features, et cetera. Am I wrong?
\u2022 01:36:54 Investing in France: What do you think of the system?
\u2022 01:37:48 What do you think of digital biology?
\u2022 01:38:41 With your milestone birthday coming up, I can't wait. What adventurous ambitions are you most looking forward to in the next half century?
\u2022 01:40:14 What is the dream guest you would like to have on the Playing with Unicorn podcast and why?
\u2022 01:44:58 Can you share the acceptance percentage of FJ Labs for the pre-seed and seed rounds? What are the chances that you will be invited to poll with your team?
\u2022 01:47:53 What is the last job to be replaced by AI robots?