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Steve Zhao
founder ceo @ Sandbox VR. backed by @a16z, craft & alibaba
Steve Zhao kirjasi uudelleen
It feels like there are two modalities of competition in Silicon Valley today. Both are valid and interesting and can lead to big outcomes.
Modality 1: Work on something legible. Out execute the fuck out of everyone.
--> This means that you are working on something that is future-facing but at this stage not a contrarian opinion
--> You will likely have multiple competitors
--> There will be an insane amount of noise in the ecosystem
--> The path to victory here just means growing as fast as possible.
--> This is a 100m dash.....for a long time.
--> People will ask you about moats yada yada yada...and your answer should be: "Winning is the moat"
A lot of successful AI companies (ala Luma, Gamma) are executing this playbook incredibly well. It's not for the faint hearted and requires peak-level performance for long periods of time.
Modality 2: Work on something truly illegible and contrarian.
--> It is CRITICAL that a lot of people laugh at your when you explain your idea (or at the very least, think your approach is dumb)
--> You should not have many other people taking similar approaches
--> You want to take your time in the early days and make sure you don't fall into the gravity well of Modality 1.
Both of these modalities are valid approaches but you get into trouble when you fall in between.
An issue I see often is when someone in Modality 1 but thinking they are in Modality 2. They are in a dogfight but don't realize it. They pay too much attention to the competition....get psyched out by funding rounds etc. If you are in this mode, the only thing to do is to put on blinders and work very very hard.
Modality 2 is often more "fun".....but requires real creativity and being in the wilderness for a while. You must not care about a lot of the status games that Silicon Valley plays in the short run.
Get in the Arena but make sure you know what game you are playing.
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I didn't think we'd get to this point but I've just sent legal letters to a potential investor.
We were initially looking forward to having HKSTP ( Hong Kong Science and Technology Parks) come into our strategic round and thus committed to their lease, however conversations broke down and now we're left in a bind.
We hope their CEO Albert Wong can do the right thing and honor HKSTP's mission of supporting the startup ecosystem and Hong Kong entrepreneurs instead of prioritizing narrower financial considerations. If not, we'd have no choice but to take all necessary actions to protect our rights and interests.
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