AppWorks Ventures & Deep Dive into Web3 with Jessica Liu

AppWorks Ventures & Deep Dive into Web3 with Jessica Liu
Jessica Liu dives deep into how investing in web3 requires a different paradigm and the areas she is focused on.

Fresh out of the studio, Jessica Liu, the partner from AppWorks Ventures joined us in a discussion to probe deep into what it is like to invest in the Web3 space. We began with her backstory of how she transitioned from fintech into crypto as a venture capitalist. From there, she offered her perspectives on how the web3 space is evolving and why the web2 paradigm cannot be translated into the new mission of web3 in onboarding the next billion. Last but not least, Jessica reviews the different mechanisms of funding in web3 and how DAOs will evolve in the next wave post the current crypto downturn.


"I'm actually not a believer of the web 2.0 turning into web 3. So these days a lot of companies are basically turning non-profitable web 2.0 companies and adding token elements into that and turning it into a web 3 company - and think issuing a token can flip the whole picture differently. I'm not a believer in that, the reason is that the user is coming on board with a different purpose.  These people from the web 2.0, they don't care about whether they have tokens, they don't care about whether they're owning the assets." - Jessica Liu

Introduction

  • Jessica Liu, partner at AppWorks Ventures (@jessieliu35liu, Linkedin, AppWorks profile)
  • How did you start your career?
  • How did you end up in a career in venture capital?
  • How do you transition from web2 to web3 as an investor?
  • What are the interesting career lessons that you can share with my audience?

AppWorks Ventures & Deep Dive into Web3

  • To start, as I interviewed Jamie earlier this year on AppWorks and the overall investment thesis of the firm, can you share a quick introduction to AppWorks for my audience?
  • Can you define the market opportunity in web3 or crypto or blockchain and the key segments that interest you most in the web3 space?
  • What does a typical day look like for you as a venture capitalist?
  • What key traits you index in a founder or a startup team are you likely to invest in?
  • Reversing the question, what are the red flags you are looking for?
  • What are the interesting web3 companies that you have invested in the space?
  • What are the most exciting trends that you are seeing in the web3 space, specifically in DeFi, GameFi, SocialFi and NFTs areas?
  • A strong opinion I have with other investors is that you cannot slap a web2 user interface and experience into a web3 world. What are your thoughts?
  • Are we moving towards a multi-chain world with different specializations or a world where a few key blockchains would lead the way like what BTC, Solana or ETH does?
  • How do you evaluate the opportunities in different chains, for example, a game on the Solana blockchain vs another in Ethereum blockchain?
  • How does the landscape play out in Web3 in terms of business models such as play to earn or customer acquisitions such as memes and airdrops? Are we going to see more shifts in how these mechanisms are?
  • What are your thoughts on funding companies with equities, tokens or a mix of both?
  • Do some DAO governance issues, as we observed recently, make it difficult for investors to put money in?
  • Given that we are in the midst of an evolving bear market, what is your memo to crypto or web3 startups on how they should navigate through these tough times?
  • What does great look like for you for Appworks in the web3 space?

Closing

Podcast Information: The show is hosted and produced by Bernard Leong (@bernardleong, Linkedin) and Carol Yin (@CarolYujiaYin, LinkedIn). Sound credits for the intro and end music: "Energetic Sports Drive" and the episode is mixed & edited by Geoffrey Thomas Craig (LinkedIn).

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