kelly choo

"Consumer demand will accelerate the need for security, privacy and regulation. Like zero-knowledge (ZK) where you can prove something is true without revealing all information. And of course, security infrastructure, which is very interesting and important at this current moment, even before the next bull market. For example, one of the companies we invested into Ledger, a digital asset hardware wallet. You basically have an app store interface where you can trade, you can stake. We see a lot of adoption of crypto in not just a retail space because of increased awareness, in the media, and new DeFi applications coming up, but also in the adoption of enterprise space. So a lot of these enterprises will be thinking to themselves, okay, in my treasury, not just do I need to hold USD and other currencies, maybe I need to also hold Bitcoins, or something else. DBS Bank, They're now holding some of this Sandbox Land, but where do they hold it? They can't hold it just in a wallet and then they throw it into some cabinet somewhere. They need to have the right, security hardware. So we believe this, will accelerate the adoption of applications like ledger, which is like a hardware wallet, for both retail and enterprise. So we believe that age-old saying of selling shovels during a gold rush is still very true." - Kelly Choo

Fresh out of the studio, Kelly Choo, founding partner from True Global Ventures discusses the state of generative AI and crypto in 2023 and what to look forward in 2024. Kelly started with his take on the recent departure of CZ from Binance and the ouster and return of Sam Altman in Open AI and how this impacts the AI and crypto landscape. From there, he broke down how they are looking at the next wave of generative AI companies specifically in the education, metaverse and legal space and crypto companies from ERC 6551 in non-fungible tokens (NFTs) to zero-knowledge proofs. Last but not least, Kelly defines what success would mean for both AI and crypto in 2024.

Episode Highlights:

[0:50] Quote of the Day #QOTD from Kelly Choo

[1:43] What has Kelly Choo been up to?

[3:19] CZ, Binance, and the Rise of Singaporean CEOs

[4:32] SamAltman OpenAI and Microsoft

[7:30] OpenAI Developer Event 

[10:05] The Current State of GenAI

[14:41] What Kind of Business Models are Going to be Proving Successful in the GenAI Space?

[16:48] True Global Ventures and AI Startups 

[19:23] Review of 2023 Web3 Megatrends

[28:03] What is ERC6551? AKA Programmable NFT's

[30:44] Web3 Tech We Should be Paying Attention To

[32:36] Impact of AI and Web3 on Gamer User Experience

[35:02] The Saudi Government Gets into Crypto

[38:55] Is the Apple Vision Pro a Game Changer?

[39:31] AR and VR Market Predictions

[41:01] BTC ETF and their Impact

[44:26] Regulatory Changes

[45:39] What Does Great Look Like for Crypto and Web3 in 2024?

[46:38] Closing

Podcast Information: Bernard Leong (@bernardleong, Linkedin) hosts and produces the show. Proper credits for the intro and end music: "Energetic Sports Drive" and the episode is mixed & edited in both video and audio format by G.Thomas Craig (@gthomascraig, LinkedIn).

”I think great looks like a combination of a few things. We always talk about how a startup hits product market fit and then essentially gets a flywheel going in terms of value and everything. So I think 'great' at True Global Ventures from my point of view is us finding that company, that team of serial entrepreneurs and an idea that can essentially change the industry, convincing them that we as a fund can help them to grow exponentially, globally. And us actually helping them to not only close a round with us, but also to grow, and also to close the next round of funding and all subsequent rounds of funding till the ultimate exit. And having that kind of chemistry that maybe after many years later when they come back and look at us they say, 'Hey, thanks for the ride.' We really treasure what you do. And in my new startup, say for example (Because these are serial entrepreneurs that cannot usually sit still, right?) I would love for you True Global Ventures to be our investor again." - Kelly Choo

 

Fresh out of the studio, Kelly Choo, the founding partner from True Global Ventures shares the backstory of how the fund came together with its investment thesis on investing in repeat serial entrepreneurs. Kelly begins with the story of his career journey as both an entrepreneur and now as an investor, and how he works with his profile companies. Last but not least, he offers his perspectives on the investment outlook for web3 and crypto companies in 2023.

 

Podcast Information: The show is hosted and produced by Bernard Leong (@bernardleong, Linkedin) and Carol Yin (@CarolYujiaYin, LinkedIn). Proper credits for the intro and end music: "Energetic Sports Drive" and the episode is mixed & edited in both video and audio format by G.Thomas Craig (@gthomascraig, LinkedIn).