Podcast highlights:
11:15 If you look around Asia, what is the most exciting market you see going forward? -- Just because of it's scale, China is the place. There is no comparison to what China is doing in terms of the amount of resources being poured into innovation in China now. India is starting to rise. Indonesia is massive; but it is lacking in some of the basic infrastructure that make technical systems thrive. It's a massive problem to figure out how to offer services in a market and ecosystem that is completely different.
32:15 How do you choose the right companies to work with? -- In the end we don't know if we've chosen the right companies. Maybe there are some we've missed along the way. We tend to look for very classic things. Does the startup have the right team? Do they have the skills to build with? Are they coachable? What is their market potential? What is their technology potential? Then we look at their prototype. This tells us a lot about whether the team is capable.
54:13 For people listening who might be going through their own dark hour of doubt, what advice can you offer them? -- Keep your eyes open. Try to stay engaged and apply yourself. Don't just get interested in something and not do anything. You don't know where things might lead you. Don't worry too much about your status and just keep pursuing your interests. Ask for advice and don't be afraid to reach out. Also, help others help you. It's really important for founders to be visible and to be recognized as experts in their field. So be part of the public conversation.
Podcast notes:
00:05 Welcome Benjamin Joffe, General Partner at HAX, to Ashley Talks with host Ashley Galina Dudarenok.
01:00 You've done so much in Asia, but you are not Asian yourself. Tell us your story. -- It all started in college with a minor in Japanese and strategy. Ended up doing some work in Tokyo and became interested in Korea and China so decided to stay around in the region. Liked each place during time spent there. In terms of places would want to visit again, of course Japan and Hong Kong, and yes there are lots of other places. What's interesting is that Hong Kong is not very startup friendly due to high costs and lack of talent right now.
03:30 How did you end up going into business? Were you a businessman all the time? -- Don't come from a family of entrepreneurs. While in Japan, met many different entrepreneurs and became fascinated with them and their stories. Eventually decided to follow a similar path, and since 2003 haven't had to look for a job. Started doing consulting before being approached by the founder of HAX. Went to Shenzhen and was impressed by the startup environment there. In terms of hardware, Shenzhen is arguably the most amazing place in the world. What's really special there is not all the startups are Chinese companies, and at HAX we work to bring startups from around the world to Shenzhen.
10:15 You say Shenzhen is just one of the places driving China forward. What are some of the other places? -- Of course there is Beijing, which is the center of telecoms and for internet. The money is there, the talent is there, and the power is there, which is really important in China as you know. Shanghai is good in marketing and online commerce.
11:15 If you look around Asia, what is the most exciting market you see going forward? -- Just because of it's scale, China is the place. There is no comparison to what China is doing in terms of the amount of resources being poured into innovation in China now. India is starting to rise. Indonesia is massive; but it is lacking in some of the basic infrastructure that make technical systems thrive. It's a massive problem to figure out how to offer services in a market and ecosystem that is completely different.
16:40 If you compare the Chinese and American tech ecosystems, what would you say?