Jun 26, 2017, 4:56 PM ETPanel, Conference Presentation

On the Edge: Asia's Entrepreneurs Breaking Barriers

Milken InstituteKen Hausman, Victor Cui, Patrick Grove, Ambarish (Rish) Mitra, Finian Tan, David Leonhardt Jr., Patrick Choi, Male Speaker 1, Elsie

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Patrick Choi anticipates acting as both Series A investor and founding chairman in emerging markets, prioritizing opportunities where funding and management can determine category winners within a quarter, while expecting opportunities in non-BRIC regions to be endless and local content to supersede Western content as the Asian middle class evolves.
Rish Narula projects that the Indian consumer will outpace the government and ecosystem in product adoption, with significant gains arising from regional solutions targeting areas with affordable data rather than pan-India English-speaking markets, and predicts ambient computing leadership will remain in the Bay Area and China for a five-year horizon before computers begin coding themselves within five to ten years.
Victor Cui forecasts the Asian sports entertainment industry is in its infancy with spending potentially exceeding $15 trillion over the next 20 years in China, while anticipating the next three Olympics will be held in Asia and mobile content consumption will surpass North American levels due to ubiquitous mobile communication.
Finian Chan expects China's domestic economy to grow at 13% to 15% to sustain a 6.5% headline rate absent export growth, predicts China will become the world's most populous nation in 20 to 30 years, and identifies Southeast Asia with 600 million people as a potential third-largest economy, while noting manufacturing may shift to Vietnam or Indonesia and that India lacks the cultural fit for a major manufacturing hub.
Finian Chan outlines a political environment where entrepreneurs are permitted to generate unlimited wealth provided they do not threaten ruling power, anticipates shared competitor data creating the world's richest data pool, and notes live programming in protected industries lags global standards by seven to ten seconds due to censorship.
Anthony Lee Medina, Jr. expects e-commerce to comprise a percentage of commerce three times larger in China than in the U.S., observes that brand loyalty is diminished by the prevalence of fake goods, and predicts imported Japanese goods will see rapid growth as consumers seek verified IP protection through legal means.
Patrick Choi plans to bypass Singapore as a launch market due to high customer acquisition costs and expat turnover, favoring larger adjustable markets like Indonesia or the Philippines, while acknowledging Grab's exception in Singapore and leveraging "martial arts" as a culturally universal Asian sport for competitive advantage.
Patrick Choi intends to hire the world's best talent regardless of origin, offering generous compensation to create millionaires, and seeks entrepreneurs with "daring" to build unicorns within two years and staff possessing hunger beyond paper qualifications.
Rish Narula warns against underestimating Silicon Valley's lead in ambient computing for five years, expects a natural entrepreneurship R&D boom in India's tier two and three cities rather than just Western-style unicorns, and cautions that rigid adherence to paper qualifications may prevent action.
Rish Narula anticipates the Indian government and entrepreneurial ecosystem will lag behind the consumer in adopting new products, whereas Patrick Choi believes money is readily available for viable businesses but people and critical thinking remain the primary investment rate limiters in Asian markets.
Victor Cui expects mobile consumption of both live and VOD content to leapfrog North American levels due to the ubiquity of mobile communication in Asia.
Finian Chan expects the community in China to be less concerned about surveillance than in developed countries due to the political environment, while noting foreign competitors face restrictions or bans in protected industries.
Anthony Lee Medina, Jr. anticipates a future of consumer goods distribution in China distinct from the U.S. model, with e-commerce accounting for a percentage three times larger than in the U.S.
Patrick Choi expects to avoid Singapore as a launch market due to its small size and high customer acquisition costs, preferring emerging markets like Indonesia or the Philippines where less financial capital is required for a larger adjustable market.
Rish Narula predicts ambient computing leadership will remain with the Bay Area and China for a five-year horizon, with India excluded from this picture, before an era of self-coding computers emerges within five to ten years.
Finian Chan predicts a manufacturing shift to Vietnam, Indonesia, or other Southeast Asian parts, stating India does not fit the Indian culture for this sector, while expecting a lot of manufacturing to remain in China for the next couple of decades with automation improvements.
Patrick Choi expects to act as a combination of Series A investor and initial founding management team, serving as chairman for internet startups in emerging markets, and views non-BRIC opportunities as "completely endless."
Victor Cui projects the sports industry in China to see spending of upwards of $15 trillion in the next 20 years, with the next three Olympics held in Asia.
Finian Chan expects China's domestic economy to grow at 13% or 15% to sustain a headline growth rate of six and a half percent given zero growth in exports, and anticipates China becoming the largest country in the world in terms of population in 20 or 30 years.
Patrick Choi expects Western content to become less valuable in Asian markets as the middle class evolves, with consumers increasingly voting with their fingers to watch local or Asian content.
Rish Narula expects the Indian consumer to be more ready than the Indian government or entrepreneurial ecosystem to adopt new products, with biggest gains coming from entrepreneurs focusing on regional solutions in areas with cheaper data plans.
Finian Chan expects the government in China to allow entrepreneurs to make as much money as they like provided they do not threaten the government, and anticipates data sharing between competitors results in a pool richer than anywhere in the world.
Patrick Choi expects to invest with entrepreneurs who have the daring to build a unicorn in the next two years, and aims to have made about 50 U.S. dollar millionaires in the last 10 years through option plans.
Rish Narula expects a "huge mistake" to underestimate Silicon Valley in ambient computing, which will be well inside a five-year horizon, with the Bay Area leading and China close behind.
Patrick Choi expects Grab to be an exception that succeeded in Singapore by controlling the market first, while his own company will use "martial arts" as a competitive advantage due to its core form in every country visited.
Anthony Lee Medina, Jr. expects brand loyalty to be less important in China due to fake goods, but IP protection is not too difficult to control through legal action if success is proven, driving his company's focus on imported Japanese goods.
Rish Narula expects waiting for someone to be qualified on paper might mean doing nothing, and anticipates entering an era inside a five to ten year horizon where computers will code itself and general computing knowledge becomes redundant.
Patrick Choi expects to avoid Singapore as a launch market because it is a small first-world market with high costs, focusing instead on emerging markets like Indonesia or the Philippines where less financial capital is needed.
Patrick Choi expects to have made about 50 U.S. dollar millionaires in the last 10 years throughout their companies through generous option plans, and expects to hire the best person in the world for a job even if from overseas.
Rish Narula expects entrepreneurs to focus on natural entrepreneurship and R&D boom areas in tier two and three cities rather than just billion dollar return unicorns in the West, and expects the Bay Area to continue leading in ambient computing with China close behind.
Patrick Choi expects to avoid Singapore as a launch market because it is a small first-world market with high customer acquisition costs due to expat turnover, focusing on emerging markets like Indonesia or the Philippines where you put it in less financial capital.
Patrick Choi expects to hire people with something beyond paper qualifications and a different degree of hunger, and expects people are more critical than money as the rate limiter for investments in Asian markets.
Rish Narula expects the Indian consumer to be way more ready than the Indian government or entrepreneurial ecosystem to adopt new products, with biggest gains coming from entrepreneurs focusing on regional solutions rather than pan-India English-speaking markets.
Finian Chan expects a lot of manufacturing to improve in China with automation and predicts that a lot will still remain in China for the next couple of decades, while India will not become a big manufacturing hub.
Patrick Choi expects opportunities in non-BRIC emerging markets to be completely endless because funding and management expertise can literally dictate the winner in a category within a quarter of investing that company.
Victor Cui expects the sports entertainment industry in Asia to be at its infancy regarding its potential growth trajectory, and expects mobile consumption of content, both live and VOD, to leapfrog levels seen in North America due to the ubiquity of mobile communication in Asia.
Finian Chan expects Southeast Asia to be the next big thing with 600 million people, potentially becoming the world's third-largest economy alongside India, and expects China to become the largest country in the world in terms of population in 20 or 30 years.
Patrick Choi expects to act as a whole combination of the Series A investor, the initial founding management team and serve as chairman when launching internet startups in emerging markets.
Rish Narula expects the biggest gains in India to come from entrepreneurs focusing on really, really regional solutions rather than pan-India English-speaking markets, and expects businesses that target the real India where phones have reached and data plans are cheaper to capture significant opportunities.
Victor Cui expects the sports industry in China to see spending of somewhere upwards of $15 trillion in the next 20 years, and expects the next three Olympics to be held in Asia.
Finian Chan expects the government in China to allow entrepreneurs to make as much money as you like provided they do not threaten the government or the ruling power, and expects data will be shared between competitors in China, resulting in a data pool that is richer than anywhere in the world.
Patrick Choi expects Western content to become less and less valuable in Asian markets as the middle class evolves, and expects consumers to increasingly vote with their fingers to watch local or Asian content rather than Western brands or content.
Finian Chan expects companies entering China will not have to worry about big boys coming to eat your lunch because many foreign competitors are banned or restricted, and expects that in protected industries in China, there is no life programming and live programming lags behind by seven ten seconds due to censorship.
Patrick Choi expects people are more critical than money as the rate limiter for investments in Asian markets, and expects that if you have a good business, money is not difficult to find.
Rish Narula expects a huge mistake to underestimate Silicon Valley in the area of ambient computing, which he predicts will be well inside a five-year horizon, and expects the Bay Area to continue leading the pack in ambient computing, with China close behind, while India is not in this picture.
Patrick Choi expects to invest with entrepreneurs who have the daring to build a unicorn in the next two years, and expects his own company to have a competitive advantage because martial arts is a truly Asian sport with a core form in every country they visit.
Anthony Lee Medina, Jr. expects the future of consumer goods distribution in China to be different from the U.S. model, with e-commerce being three times larger as a percentage of commerce, and expects that if companies have IP protection, it is not too difficult to control your IP through legal action if they can prove success with the IP.
Finian Chan expects manufacturing to move to Vietnam, Indonesia, or other parts of Southeast Asia, and expects India not to become a big manufacturing hub, suggesting it doesn't fit in with the Indian culture.
Patrick Choi expects to hire the best person in the world for a job is necessary, even if they are from overseas, and that we will generally pay whatever it takes, and expects to have made about 50 U.S. dollar millionaires in the last 10 years throughout their companies through generous option plans.
Rish Narula expects waiting until someone is qualified to do something based on paper qualifications might mean you might not do anything, and expects to enter an era inside a five to ten year horizon where computers will code itself and knowledge of general computing will become redundant.
Patrick Choi expects to avoid Singapore as a launch market because it is a really small first world market with high customer acquisition costs due to expat turnover, and expects to focus on emerging markets like Indonesia or the Philippines where you put it in less financial capital and have a completely bigger adjustable market.
Anthony Lee Medina, Jr. expects that brand loyalty is less important in China due to the prevalence of fake goods, and expects his company focusing on imported Japanese goods to take off like wildfire by capitalizing on consumer concerns about fake goods.
Patrick Choi expects that hiring the best person in the world for a job is necessary, even if they are from overseas, and that we will generally pay whatever it takes, and expects to have made about 50 U.S. dollar millionaires in the last 10 years throughout their companies through generous option plans.
Rish Narula expects entrepreneurs to focus on natural entrepreneurship and R&D boom areas in tier two and three cities rather than just billion dollar return unicorns in the West, and expects a huge mistake to underestimate Silicon Valley in the area of ambient computing, which he predicts will be well inside a five-year horizon.
Finian Chan expects a lot of manufacturing to improve in China with automation and predicts that a lot it will still remain in China for the next couple of decades, and expects India not to become a big manufacturing hub, suggesting it doesn't fit in with the Indian culture.
Patrick Choi expects to invest with entrepreneurs who have the daring to build a unicorn in the next two years, and expects people are more critical than money as the rate limiter for investments in Asian markets.
Anthony Lee Medina, Jr. expects the future of consumer goods distribution in China to be different from the U.S. model, with e-commerce being three times larger as a percentage of commerce, and expects that if companies have IP protection, it is not too difficult to control your IP through legal action if they can prove success with the IP.
Finian Chan expects the government in China to allow entrepreneurs to make as much money as you like provided they do not threaten the government or the ruling power, and expects data will be shared between competitors in China, resulting in a data pool that is richer than anywhere in the world.
Patrick Choi expects Western content to become less and less valuable in Asian markets as the middle class evolves, and expects consumers to increasingly vote with their fingers to watch local or Asian content rather than Western brands or content.
Rish Narula expects the Indian consumer to be way more ready than the Indian government or entrepreneurial ecosystem to adopt new products, with biggest gains coming from entrepreneurs focusing on regional solutions rather than pan-India English-speaking markets.
Victor Cui expects the sports entertainment industry in Asia to be at its infancy regarding its potential growth trajectory, and expects the sports industry in China to see spending of somewhere upwards of $15 trillion in the next 20 years.
Finian Chan expects the domestic economy in China to be growing at 13% or 15% to sustain a headline growth rate of six and a half percent given zero growth in exports, and expects China to become the largest country in the world in terms of population in 20 or 30 years from now.
Patrick Choi expects to act as a whole combination of the Series A investor, the initial founding management team and serve as chairman when launching internet startups in emerging markets, and expects opportunities in non-BRIC emerging markets to be completely endless.
Rish Narula expects businesses that target the real India where phones have reached and data plans are cheaper to capture significant opportunities, and expects the Bay Area to continue leading the pack in ambient computing, with China close behind, while India is not in this picture.
Victor Cui expects the next three Olympics to be held in Asia, and expects mobile consumption of content, both live and VOD, to leapfrog levels seen in North America due to the ubiquity of mobile communication in Asia.
Finian Chan expects companies entering China will not have to worry about big boys coming to eat your lunch because many foreign competitors are banned or restricted, and expects that in protected industries in China, there is no life programming and live programming lags behind by seven ten seconds due to censorship.
Patrick Choi expects people are more critical than money as the rate limiter for investments in Asian markets, and expects that if you have a good business, money is not difficult to find.
Rish Narula expects a huge mistake to underestimate Silicon Valley in the area of ambient computing, which he predicts will be well inside a five-year horizon, and expects to enter an era inside a five to ten year horizon where computers will code itself and knowledge of general computing will become redundant.
Patrick Choi expects to invest with entrepreneurs who have the daring to build a unicorn in the next two years, and expects his own company to have a competitive advantage because martial arts is a truly Asian sport with a core form in every country they visit.
Anthony Lee Medina, Jr. expects that brand loyalty is less important in China due to the prevalence of fake goods, and expects his company focusing on imported Japanese goods to take off like wildfire by capitalizing on consumer concerns about fake goods.
Finian Chan expects a lot of manufacturing to improve in China with automation and predicts that a lot it will still remain in China for the next couple of decades, and expects manufacturing to move to Vietnam, Indonesia, or other parts of Southeast Asia.
Patrick Choi expects to hire the best person in the world for a job is necessary, even if they are from overseas, and that we will generally pay whatever it takes, and expects to have made about 50 U.S. dollar millionaires in the last 10 years throughout their companies through generous option plans.
Rish Narula expects waiting until someone is qualified to do something based on paper qualifications might mean you might not do anything, and expects entrepreneurs to focus on natural entrepreneurship and R&D boom areas in tier two and three cities rather than just billion dollar return unicorns in the West.
Patrick Choi expects to avoid Singapore as a launch market because it is a really small first world market with high customer acquisition costs due to expat turnover, and expects to focus on emerging markets like Indonesia or the Philippines where you put it in less financial capital and have a completely bigger adjustable market.
Anthony Lee Medina, Jr. expects the future of consumer goods distribution in China to be different from the U.S. model, with e-commerce being three times larger as a percentage of commerce, and expects that if companies have IP protection, it is not too difficult to control your IP through legal action if they can prove success with the IP.
Finian Chan expects the government in China to allow entrepreneurs to make as much money as you like provided they do not threaten the government or the ruling power, and expects data will be shared between competitors in China, resulting in a data pool that is richer than anywhere in the world.
Patrick Choi expects Western content to become less and less valuable in Asian markets as the middle class evolves, and expects consumers to increasingly vote with their fingers to watch local or Asian content rather than Western brands or content.
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