Areas of focus for Foundersbacker

Foundersbacker basically refers to Lei Jun's logic. Whether it is a fund that has not yet raised to invest in new ventures, or a fund that can be invested in new ventures in the future, it is the same. The most important thing in investing in early-stage new ventures is people. Smart, talkable, Coachable, how to react when faced with difficulties, etc. So before we talk about the areas we focus on, let’s mention two founders that we will never assist or invest in:

1. Inattentive

a. Do A today, do B tomorrow, and do C the day after tomorrow. Unless we have known each other for a long time and our experiences can be strung together, the scattered experiences are worse than office workers.

b. It seems that I have decided to become an e-commerce business, but in fact, there are many mountains and seas, and there are obvious problems with the market positioning. For example, I have seen an e-commerce platform that sells things in it. In fact, the design personally even thinks that it is already ugly. At this point, the price is set at the middle price, and there are only less than 10 designers. Any of these three points is a fatal problem. It is equal to this project. If starting a business is a life-and-death situation, the probability of this project dying is 99.9%. , and I have talked about it at least three times, and I obviously don’t understand it. It can be reasonably estimated that this project will not be saved in the short term. In the long run, if the founder wins the lottery one day and thinks clearly, it is probably not my business, because after figuring it out, you still have to implement it. The overall incubation cost is too high to estimate. I would rather open a new case than get entangled in this 99.9% project that will fail.

2. Impossible

Although the first six startups were not successful, sometimes when talking to some people who want to start a business or just start a business, they will hear "Impossible", or find a lot of reasons and excuses not to execute or test the market, Personally, I don’t appreciate this type of person very much. If you say that you don’t focus on giving three chances, and you think it’s impossible, I will only give it 1.5 times. That is, after the first talk, I followed up for a period of time and found that not only did it not execute, but it was a bunch of excuses. It is basically useless. If the probability of success is 0.1% if you don’t focus, then you feel that you are impossible, and you will basically be as you think, and it is absolutely impossible to succeed. This is called the law of attraction.

After talking about the two types that won't help, let's talk about the types that Foundersbacker is interested in. Except for acquaintances and acquaintances of acquaintances, they are basically new creations around the life of Arthur or the other two co-founders of Foundersbacker (and focus on software and e-commerce), so the expansion would be:

1. Food

Arthur's participation in Innovex Pitch was a great investment. Meeting four Taitung startups and meeting the incubator manager of Taitung University opened the window for me.

Many of the crops planted or cultivated by these local young farmers have the potential for internationalization. Coupled with Foundersbacker's brand power and Taiwan's strength in food technology, whether it is bringing agricultural technology to Southeast Asia, or bringing agricultural technology to Southeast Asia, High economic value crops can be sold to Japan, the United States and Europe after being re-valued by food technology, with huge potential.

2. Clothes

Since I have worn Uniqlo clothes, I have never changed other brands. Uniqlo is not fast fashion, its clothes can be worn for a very long time, and Uniqlo has invested a lot of money in the fiber technology of clothes, which of course includes Heat Tech.

According to the normal state of an industry, in theory, two companies will emerge, occupying 80% of the market share. For oriental clothing, only Uniqlo is currently seen, so I think there is still a lot of potential in this market, and it is very likely that the XXX brand clothing a high percentage of the founders are not fashion designers (designers start a business, and currently only know successful cases, only Unipapa), but people in marketing or clothing technology, but where is this person, I haven't seen it yet.

3. to live

Real estate technology and high-quality building materials e-commerce, I have seen two, the ideal is to merge the two into one, fire all the members who are not good at execution, or let the two who actually have execution ability, combine into one new company, but the actual implementation, there are certain difficulties.

Shared office space is also included in this area, because Foundersbacker expects to integrate local potential new ventures into one office every time we go to one place, staring at it every day and requiring weekly iterations in order to continue to grow. We should have foreseen in advance and added the terms of fund redemption, so it is only 3 to 5 times from the original estimated profit of 100 times, but the investment period is short, and there is nothing wrong.

4. Transportation

At present, there is less attention to this piece, but Arthur has invested in a British start-up company Magway, which is an underground pipeline logistics company. If someone goes to Indonesia in the future, someone wants to do small aircraft-related shared services between 7,700 islands. It should be very convenient. interesting.

5. Nurturing

There are still many opportunities for innovation in education. For example, Arthur himself invested in Oliver in Europe, using IoT + gamification APP to do football education. There are countless other fields, waiting to be destroyed. Like angel investment, almost no one does it in Chinese or English, so I am basically the first in the subdivision field, because it is a difference from 0 to 1, with and without, plus Recently, I have been investing in buying courses and books to learn how to monetize knowledge. I believe that after half a year to a year, the gap should be widened so that the latecomers can’t catch up.

6. Fun

This is the service that solves sexual needs, because this is the largest and most fertile market.

The other is to drive peripheral services through music, such as music education, musical instrument sales, music NFT, etc., to create an ecological chain of music, which should also be a unicorn. For example, many new creations are now creating auto-related financial services. , musical instruments related finance, the market should also be very large, many of the world's top musical instruments, the price even exceeds the top handmade cars.

After listing so much, Arthur still wants to persuade entrepreneurs to focus and if the direction is confirmed, they should follow the principle of getting it done. Otherwise, go to work and invest with spare money. Why start a business and can't do it, wasting your life?