YouSaid · the spoken record

Chris Paik

lines on the record: 104
first: 2023-07-25
most recent: 2023-07-25
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Birth something capable of significant enterprise value capture. It's a silly example, but if you follow the Wall Street bets subreddit, where it's basically degenerate gamblers.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Reda is such an interesting company. I think of Reddit as basically an interest graph. There are plenty of subreddits that people are subscribed to that aren't suitable for social media. There are divorce subreddits. There are grief subreddits. Nobody's going to post on Facebook or Instagram, hey, I'm going through a breakup. This is who I am. So there's this entire side of who people are, what they're interested in that isn't met by other platforms. And when I think about Reddit, it is really an interest graph. And as such, if across humanity users of Reddit, there is enough of this critical mass of people who express interest and engagement around the same interest, I think that is a good litmus test for it having enough critical mass.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“The product building process is so much faster because intuitively, the leader knows exactly what needs to be built without having to ask anyone else. So I like to think about founder market fit, earned insights, how long of a period of time this person has basically been collecting the dust of insight over usually very long periods of time and then are able to compress it into these diamonds that somebody else starting from zero wouldn't be advantaged with.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“There's this term called the sophomore slump, where usually the second album that an artist puts out, it's kind of not good. In many ways, I think about the same journey of a founder. Investors get to cheat. You get to intercept that artist the year before they release their first album, but you weren't there for the 10 years of earned insights that it took them leading up to it. And maybe more tactically, I might be able to articulate founder market fit and earned insights how they manifest. So if a founder has the correct intuition about a product. And so you start compounding those things and you sum total, well, we don't have to test this thing because I intuitively know for X, Y, and Z reasons, I have this earned insight. I was the customer. And so I know that we need to build it in this way. And then the company.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think there's the traditional things like aptitude, integrity, sociability, that kind of thing, all those traditional vectors are super, super important. They evaluate the person's ability to execute, recruit, inspire, leadership qualities, future fundraising. One of the things that I deeply care about that maybe others don't is what I would put in the bucket of like founder market fit to use an analogy in the music industry.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Has dramatically benefited from Instagram and TikTok as well. The same $3,000 handbag that you purchase now is signalable over a dramatically larger surface area than 20 years ago, whereas basically only in person. And that drives this power law demand for consensus signals. So for every Louis Vuitton, there are 100 mid-tier luxury brands that no longer exist because society has converged this as the dominant social signal.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“And that's the issue with freemium free to play games, the elegance of cosmetic monetized free-to-play games is there is no difference in the game experience that someone gets if they pay or they don't pay. And the axis along which the company monetizes is purely along the self-expressive spectrum. There are only like 10 of these skins out there. And I think it says something about me as an individual if I have one of these 10 skins. There's a reason why Bernard Arnault was the contender for the wealthiest person in the world. Luxury goods, things that we wear, the things that we consume, they are higher up on Maozo's hierarchy of needs, higher elasticity of spend, a higher willingness to pay for that social signal. I would argue that Bernard Arnaud”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Endgame, they start to become increasingly disenfranchised unless they pay. And it starts to feel futile. It's almost like the game of monopoly. No one actually plays the game of monopoly to the end of the game.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“And self expression. And so cosmetics are this incredible innovation that has occurred in free-to-play gaming. Bucket free-to-play gaming monetization in two categories. There is freemium monetization and then cosmetic monetization. So in the beginning of free-to-play games, the general consensus was, hey, we're going to give this away for free, but then we're going to make it kind of hard to continue playing it unless you pay. Or you can pay and save time, or you can pay and you get this unique asset in-game that makes it a little bit easier. The issue with that kind of monetization is it leads to what are called pay-to-win dynamics within a game, where it's fine for the beginning part of the game when it still feels meritocratic. But as gamers advance to medium and”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Think about where different things land on Mazo's hierarchy needs when companies offer them. And then what is that elasticity of spend? If we look at gaming, for example, one of the greatest business model innovations in gaming over the last decade, two decades, is the invention of what are called cosmetics. Cosmetics do not change gameplay. They only change how in-game assets are visually represented. Think of it as clothing. You're wearing a polo shirt. I'm wearing a button-down shirt. They serve as functionally the same thing, but they say different things about us. They're different self-expressive choices. In some ways, they probably encroach along self-actualization of this is who I am. I dress in a way to communicate to other people who I am. It's a nonverbal medium of communication.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Core motivators, whatever. I think the Seven Deadly Scenes are basically like the essential reasons why humans do anything. I have a relatively Kantian view of altruism. I think people generally do things because they're self-interested without exception. In terms of elasticity of spend, I don't know of the seven deadly sins themselves have a spectrum of elasticity of spend, but I do think that Maslow's hierarchy of needs does. Maslow's hierarchy is like food, shelter at the bottom and self-actualization at the top. I think humans elasticity of spend basically increases as you ascend Maslow's hierarchy of needs. Will I pay $100 for a head of lettuce? No. Will I pay $100 for better education for my child? Absolutely. And so I think it's interesting to”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“As a user, same thing. I'm going to spend my time so long as this is the most entertaining way for me to allocate an increment of my time. The interesting thing is neither of those things happen if the original value swap with content creators doesn't happen. That supply side content creator value swap for any UGC platform is so sacred. Once that's compromised, it's basically the beginning of the end for it. It will just downward spiral and be competed away by other platforms that are willing to reward Those incremental content creators with a more attractive distribution value proposition.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, I think that's right. I think that maps very closely, if not, is the same thing. I think every company, every product, generally speaking, has multiple atomic value swaps. You basically have as many atomic value swaps as you have constituents. So as you pointed out, on the consumption side of Twitter, I, as a user of Twitter, am paying with my time in exchange for entertainment. Twitter as a company gets to”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Or content or writer, and I was getting strictly worse distribution through a platform with a paywall, I'm just going to reallocate my labor and time and energy to a platform that has unbounded distribution. It will be interesting how Twitter navigates through finding business model product. It has product market fit. The biggest risk is that their attempts business model product fit violate the original atomic value swap, which gave Twitter product market fit. And it all starts to inwardly compound on itself negatively.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Original atomic value swap actually market clear or repeat. And so when Medium introduced this paywall on the consumption side, all of a sudden, every person that was creating content was incrementally disincentivized to create content because the proposition of uncapped distribution no longer existed. There was this ceiling, there was this exogenous force, this compressive force on what distribution they could attain. And the biggest problem is we don't exist in these platforms in a vacuum. There are always alternatives to these platforms. If I was aspiring”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Is so scary for Twitter because the only reason why people are creating content on Twitter is to increase their distribution. What happens when you introduce a chilling effect to distribution? Arguably, this is why I think medium failed as a product. Medium originally was a tool that allowed people to more aesthetically or on-brand in the way that they wanted to distribute their content. It was good content. Theoretically, it would be more widely disseminated. But medium wanted to monetize their traffic and they thought that they had enough leverage to install a paywall on the consumption side. The issue with that is that violated the original atomic value swap with content creators originally. When you change the balance of the values on the scale, sometimes it no longer makes the”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Patreon is a good example of this. Or Shopify. Nobody creates content on Patreon to increase their distribution. They are likely increasing their distribution in other spheres, whether it's they have a podcast or they have a YouTube channel or a Twitch channel. They are using Patreon as a monetization mechanism for the pre-existing distribution that they already have. Going back to like Twitter's atomic value swap, this is why The idea of a paywall?”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, Twitter is a really interesting one. Let's think about why people do things on Twitter. Why does a content creator create content on Twitter? I would argue that somebody creates content on Twitter to increase content. Distribution of their thought and future thoughts, future content. No one makes money on Twitter, so people create content on Twitter to become more famous, become more successful, basically build their distribution. And it's baked into the follower model in and of itself. Conversely, there are some platforms that no one makes content for to increase distribution. They only do it to monetize.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Easily measured from quantitative perspective. It boils down to why do people do things, period. Because it costs everyone something to do anything. And so what are they getting in exchange for the time expended, the effort expended, the money allocated? And how durable is that exchange? How repeatable is that exchange? Does it increase in attractiveness over time? Does it decay in attractiveness over time? Is it a one-time thing? Well, let's think about, I don't know, a company.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“The concept of the atomic value swap is What is actually going on? What is the exchange that is happening? Let's take this to a lay example. I walk into a grocery store. I want to buy a head of lettuce. I pay $2 for this head of lettuce. The value swap is $2 in exchange for the secular to secular exchange of money for goods. That's very easy to understand. If the grocery store wanted to charge $20 for that head of lettuce, Matt Exchange probably wouldn't happen. The imbalance, the asymmetry between what is expected in return for what is being delivered won't achieve a market clearing mechanism. What's interesting is applying this to things that aren't maybe as”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“And so that economic value proposition is this underpinning that will drive adoption of the tool. And then with enough adoption of the tool, the opportunity of the network opens itself up. And then you can imagine this entire ecosystem of, well, maybe there are people out there that are just really good interaction designers, interactivity designers. They're super creative. And maybe somebody's going to make a theme park that these VTubers can digitally visit with their own set of interactivities that the audiences can manipulate. What happens when audiences want to trigger interactivities against other VTubers that are in the same environment as the VTuber that they're watching? I think this is a super exciting, underexplored frontier of content consumption that is also almost really perfectly aligned with a net new monetization mechanism of interactivity.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Play by paying. And what's wild is that the streamers are making basically 10 times as much money using these interactivities as they were before. So for example, there was a streamer, awesome, amazing streamer, great VTuber, pre-Mikover software was earning about $2,500 a month as a streamer, streaming 60, 80 hours a week using the Mikover software with the native interactivity made that in three streams.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Immediately gratified with the output of the intended intention. That is actually what is now natively possible with live content that was not previously possible with video on demand. And so what Code Miko has done is taken the same principle of interactivity, where if you watch her stream, there is a menu that you can see where you can donate some amount of money and actually manipulate the content you're seeing. So there are these digitally defined interactivities. So like I want to drop a piano on this VTuber. I want a car to race across the screen and hit them. And these are all digitally defined coded inside of the environment, also built in Unreal Environment, you get the same instant gratification. And it turns this stream basically into a game that the viewers”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Has been searching for a monetization mechanism. I think one of the challenges of existing monetization mechanisms like advertising or subscription is that it doesn't take advantage of the natively new possible things with live content. Overall, to curb the benchmark, any new network or new platform will homegrow its celebrities. I would argue that any new modality of creation will homegrow its own business model that's unique to it. For better or for worse, other content areas have long pioneered this monetization insight, notably cam girls. Cam girls on the internet monetize very well through interactivity. You are watching this live stream, you pay some amount of money, you are basically”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Things that allow the people that are using the tool inside the network to make more and more money and take Share of the money that they're making. Specifically, I think one of the insights with CodeMiko and Mikoverse is interactivity, live content.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Setup that's optimized for VTubing. And what we did is we backed her to take that, flatten it down into something that is a single runtime, and give it away, democratize the tools. It's very technically hard to become a VTuber if you don't know anything, if you're a non-technical content creator. So we backed her to take her entire setup, her workflows, condense them down to a product that then could be disseminated as this democratizing tool set to empower and enfranchise a whole new set of would be VTubers. And then the long-term bet is if there is this network effect, this supply-side network that I was articulating with the Grand Theft Auto role-playing servers, if there's a supply-side network effect of content creation, that is this compounding mode. You get this fundamental network effect that advantage you against would be competitors that offer similar tooling. And then you can layer on”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“How these emergent VTubers are choosing to spend their time, what must be true for them to allocate their time in this way, and where the business model opportunity might exist. So if people at a micro level are allocating their labor in a way that they previously didn't or weren't able to, they are likely doing so only because it is economically attractive for them to. They're making more money in a way that they couldn't have done before. And so likely the best business model there is the second one we talked about, help people make money and then just take a cut of the money that you help them make with Mikoverse specifically the business almost certainly is going to follow the Crystix and comfort the tools day for the network. Yuna has created this incredible, incredible streaming studio.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Widgets for X and sell the widgets for more than X, that's a business model. One of my favorite business models is you can help people make money and then you take a cut of the money that they make. I think this applies to most marketplaces. There are other business models of you pay me to save you time, productivity tools or the convenience economy delivery, things like that. And I think basically every company distills down into one of these core business models. When it comes to something like a code Miko, I think a lot about”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Fit and is struggling to find business model product fit in this very public stage. So when it comes to going back to your question of how do you evaluate something that has potential product market fit at the edge, maybe a good candidate for why not, maybe not a good candidate for why now, I do through the lens of business model product fit. There are only so many business models that exist, arguably.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“So I think I feel like this is where an economic framework comes into, I think there's this concept of product market fit, which we all know very well. And then this other concept of business model product fit. Maybe you could argue that along the spectrum of 0 to 100 of product market fit, companies, products attain, arrive at their fullest potential of users using the product. But on the scale of 0 to 100 of business model product fit, the company approaches its fullest potential of enterprise value. So you can have a product that is amazing product market fit, open source, for example. Open source is a great example of product market fit with zero business model product fit. Linux, incredible technology, Linux itself, there's no enterprise value inside of Linux. I think this is arguably what's happening with Twitter. Twitter is a great example of a company that has product market.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“VTubers who exist as these digital content creators the same way as characters in Grand Theft Auto exist on these role play servers. And what is possible when they are networked together and exist in the same three-dimensional space?”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Motion capture hardware software that is also a VTuber wants to represent themselves in the same three-dimensional space. I think there's this weird corner of the internet in Grand Theft Auto where people create content on role play servers. We're playing Grand Theft Auto. I'm role-playing a cop. You are roleplaying a bank robber. You actually have to rob a bank and I am supposed to chase you down as the cop, pull you over, and apprehend you. The beauty of this is the game basically turns into an improv stage. And you have this network effect of content creator where if I, as a new content creator, get to drop into this existing role-playing server, it's so much easier for me to create compelling content because there are all these actors that are already creating amazing content. And so it's interesting to think about”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, totally. So Code Miko is a streamer on Twitch. She is a VTuber, the woman behind it, Yuna, is wildly talented. She 3D animator and Was inspired to quit her job and start Code Miko as a Twitch channel because of what was then possible in VTubing. You know where motion capture hardware, basically all over body, that inputs motion tracking information into an environment that she has created in Unreal Engine that real-time animates a character called Code Miko in a essentially game environment inside of Unreal. Her stream is basically one camera angle of that game environment inside of Unreal, and Code Miko is the content creator, basically a player, represented player inside of that environment. What's crazy to think about, though, is what happens when Code Miko is not the only player that's represented in that in-game environment. What happens when someone else who's also”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“She's a dancer. If you think about it, dance as a form of content disenfranchised on platforms prior. To really appreciate dance, you need to hear the music. But audio is never a native endemic form of content consumption on Instagram. It was always visual or Snapchat visual. And TikTok was the first platform that made audio a native part of the content consumption along with video. And so dance was elevated from this completely backwater. Maybe if somebody happened to have their audio on while they're scrolling through Instagram, it became a first-class citizen of this new economy of TikTok. And it totally makes sense that then the number one most popular TikToker is a person who's previously disenfranchised that is now currently enfranchised.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Would have lived a very different life and pursued a very different career. But like that, when I was growing up, that was unheard of. That was literally impossible. No one was doing that. And now it is eminently possible. People can do that as their careers. And so I think a lot about at a micro level how people reallocate their own labor hours where they are advantaged, where they're disadvantaged, where they are newly advantaged. As labor flows to higher states of entropy because of these new advances in technology, whoever is building that aqueduct, that water naturally flows down will greatly benefit.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Interesting about that is enfranchises a completely new set of potential content creators. For better or for worse, to be a successful content creator in this day and age, Instagram or TikTok, you basically have to be good looking. It's sad, but I don't make the rules. And what this allows is for people who maybe aren't good-looking but are very entertaining. They're super compelling, they're funny. This allows them to achieve the same level of success when they previously were completely disenfranchised. I think that's so, so, so powerful. I think a lot about jobs that might exist in 10 years that don't exist today and jobs that exist today that didn't exist 10 years ago. If you told me as a 13-year-old kid that I could make a million dollars a year streaming video games on the internet, maybe I...”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Super weird. So, VTubing Ormantau of virtual YouTuber VTubers have 3D models. They build in Unity or Maya. Those are the digital representations of the content creator. So they use motion tracking hardware and software to capture their movements in their face and their body. And those movements end up puppeteering this avatar, this digital representation of themselves as a digital content creator. So you can watch a stream of a vtuber and you're watching this anthropomorphic fox or what have you. And there's somebody somewhere sitting with maybe they're wearing motion capture or hardware on their body or they're using cameras to track their face and they're creating content as that character. And I think what's so interesting”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“So, my best answer to that is it's hard to add a micro basis. I think the way that I choose to spend my time, which is hanging out in the corners of the internet on the edges of things, that increases the likelihood that things that are happening there are happening because of some new advancement. And so in some ways, if you choose to spend your time in those spaces, you get a higher natural hit rate of the things that you are exposed to being possible because of a why now.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Venture is a pretty unique capital instrument. If you think about efficient market hypothesis, where there's an opportunity, people create companies to take advantage of the opportunity. Adventure is supposed to be exposed to companies capable of explosive enterprise value creation over very compressed periods of time. Those opportunities shouldn't exist unless like crazy dislocation has happened in the market because unless some crazy dislocation has happened in the market, there shouldn't be the opportunity to capture such a large integral of value. And so if there is no compelling why now and maybe it's technological or regulatory, I would make the strong argument that that Not a venture. That's not a suitable candidate venture capital.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Conceptually and from a platonic ideal perspective, yes, every venture investment should have an essential, very strong compelling reason of why now, whether or not that is actually perceptible, measurable, and articulable in the moment of having to make an investment decision or deciding to found a company, that's a totally different analysis. But from a philosophical perspective, yes.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“To write information to computers. If you think about eye tracking, think about the process of clicking on something with a mouse. You look at the thing, your brain subconsciously, is thinking, okay, I need to now physically manipulate my hand to move this hardware mechanism to then move a digital representation of something to then meet where my eyes are looking. And then I click. Eye tracking, you basically get to short circuit that entire lossy physical loop. I feel like that's why you hear from early users. It feels telepathic. It's such a gain of efficiency, of human right speed to the computer. I think the hope is that continued advancement of human right speeds to computers lead to these watershed moments of advances in human-computer interfaces.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“That people miss a tribute to like, well, it's like mobile, smartphones, things like that, is actually just multitouch. Multi-touch was the innovation that made the iPhone in such a paradigm shift of human-computer interface. Because we had plenty of smartphones. You remember T9, you know, your Nokia dumb phone? Think about how ridiculously rate limiting that was as a data input mechanism for humans to computers. So enter multitouch, you know, Apple bought the company, own multitouch, and patents around Multitouch two years before the iPhone was launched. That was a thing that allowed humans to write more information more efficiently to the computers that they were using. So I think the most interesting part about the Vision Pro is its eye tracking and hand gesture tracking. Because to me, those represent advances in humans being able to”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Screens get more intimate, we will always advance along better, higher fidelity, more pixels screens. But the modality won't change. It will always be screens. It will always be sight. What is changing though is the input mechanism from humans to computers. So every time we have advanced in human-to-computer write speeds, we've seen a complete paradigm shift in what is possible. So you started with the keyboard and that was fine. It was good. It was limited basically by the number of words per minute that somebody can type. Average person types at like 40 words per minute. But then the mouse was invented. And all of a sudden, there was this watershed moment of advance on how much humans can write to computers as data transfer. I think the thing that happened with the iPhone.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Touch and haptics, and that is actually the highest throughput data transfer between humans and computers, and it will be for the foreseeable future. We're not going to see because sight is our fastest read speed from computers, we're not going to see a more dominant interface where computers transfer information to humans that is not through sight. Theoretically, this would argue That because voice hasn't actually been effective as a human-computer interface, it never will be. There are limits to this framework. And again, I'll sort of caveat it with like it being half baked. But I think the most interesting part of the vision pro is not the screens.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Work for a number of reasons. We as humans have created tools to advance our haptic ability to input data into computers, whether it's the keyboard or the mouse or the touchscreen. I think there's something interesting to think about Darwinistically if voice had actually been meant as an input mechanism between humans and computers, wouldn't we have also come up with some tool to advance our data input via the sounds we can make? We would have come up with some sing song language or we would make specific sounds that map to certain data, but we haven't. And I think that it begs the question of maybe voice is just not meant to be input mechanism between humans and computers. Maybe we have a structural advantage with our other senses.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Two tax So they actually read speed is twice as fast as the spoken word write speed. Spoken language, the limiting factor, is actually human write speed. And if you think about voice as an interactive modality to computers, that also suggests that a voice interface will also be limited in a data input right speed of 39 bits per second. Some examples may highlight things like imagine a fighter jet that's voice controlled.”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“There are like a number of things that bound that data transfer speed. It is both limited by the right speed of a human voice and the data processing speed of our audio, of our ears. Interestingly enough, you think about people who can listen to”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, exactly. The amount of data that our eyes ingest is about 100 megabits per second. Compare that to linguists who have studied the bitrate transfer of spoken language is Of magnitude slower. Most current common spoken languages converge at a data transfer speed of 39 bits per second”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“Have started between Twitter and Instagram. And interestingly enough, I would argue that Instagram could not have been started after TikTok, with all due respect to a number of great founders building great innovative things. I would argue things like paparazzi, be real, because they are not strictly more bandwidth consumptive than TikTok. The why now, the technical why now is not sufficient. And if they were to have Darwinistically existed and survived, you would have seen them emerge in the Instagram, Snapchat era of 3G. I think a lot about data transfer between humans across generations, but then also the read write speeds of humans to computers. So our eyes are Read data at about, I think it's a hundred megabits per second, basically Ethernet speeds. Reading”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source
“It could not have happened in any other order because of the minimum packet size of the content on that platform. So Twitter was text-based, smallest packet size. It was actually able to run over SMS Rails. And then when mobile bandwidth was in its infancy, it was still sufficient to transfer those kilobits of information. But it basically wasn't until 3G until Instagram was possible. You had compressed images and in order for the average person to have a high fidelity experience, you needed wide distribution attachment rate of that. Snapchat, coming shortly thereafter, also imagery and short form video. And then TikTok three years later with longer form video with audio also part of the consumption experience. The thing is, TikTok couldn't”
2023-07-25 · Invest Like the Best · Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338] · IDENTIFIED FROM THE TRANSCRIPT · source