SCALE UP Jerry Hu

Happy #iwd2024 to all your beautiful and brave women today!

My special guest this week is another brave startup female founder,  Anastasia Kuskova, Co-founder and CEO of Sirius, a groundbreaking startup dedicated to revolutionizing sustainability in the mining and metals industry using the power of #ai.

From Moscow to Shanghai, and Geneva to her current home in Amsterdam, it hasn't been an easy ride both professionally and personally. Due to her Russian identity, despite graduating from a top-tier institution, Anastasia faced numerous rejections throughout job interviews. However, her unwavering perseverance led her to repeatedly challenge her own destiny, redefining her life. From strategic consulting to #worldeconomicforum , Anastasia rose through the ranks in world-class organizations, becoming one of the thought leaders in the #ESG space.

In our conversation, Anastasia shares gripping anecdotes from her life stories, illustrating the journey of breaking barriers, defying odds, and relentlessly pursuing her aspirations. She also imparts invaluable leadership insights, particularly aimed at empowering female leaders in today's world.



"If no one is betting on you, bet on yourself!"



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In this bonus episode, I delved deep into Andrew's insights on the current funding winter and its impact on the startup/vc ecosystem.



Jerry: Lastly, I'd like to discuss the scaling regrets you've experienced, considering your experience on both sides – as an investor and as someone who has started their own venture. What is your number one regret, and what lessons can you share?

Andrew: I believe a significant mistake prevalent in the startup and VC ecosystem in China is the relentless pursuit of expansion without recognizing the importance of timing. Many are accustomed to the 'go, go, go' mentality, persistently expanding even in unfavorable market conditions. They continue burning money when the market is down and the investment landscape is unfavorable, accumulating debts until eventual bankruptcy. The Chinese ecosystem, in my opinion, has yet to undergo substantial market corrections, and the absence of a role model sometimes leads to a forgetfulness that, in a downturn, the wisest course of action is often to wait patiently and do nothing rather than persisting with the hope that growth will miraculously bring new opportunities.

Successful entrepreneurs and investors with a long-term orientation understand the importance of adapting, whether it's for expansion or, at times, for cost-cutting, or even doing nothing. Additionally, the rise of AI is making it easier than ever to initiate ventures. Previously, one might need to hire a marketing person, a contact center, and various other roles, but now, the landscape allows for a more streamlined start.

So, my advice to the ecosystem is to focus on the timing, stop pursuing the low-hanging fruits and focus on the bigger picture and long-term strategies.


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My guest this week is Andrew Du, Founder of an Generative AI venture, Quadratic Acceleration Quantum, ex-VP of investment at Sequoia Capital China Fund, Andrew is a trailblazing GenZ entrepreneur/investor in the startup/VC ecosystem in China. He started his journey as a strategic analyst at Tencent, making waves with the merger of the new Tencent Music Entertainment Group. Later, he joined Sequoia Capital, swiftly becoming the youngest player in the game. At Sequoia, he immersed himself in early-stage projects in the consumer sector, hitting the jackpot with investments in killer brands like 得物App, SUPERMONKEY超级猩猩健身, Wenheyou...

Beyond his investment efforts, Andrew is also a talented indie musician and writer. He's authored books on #artificialintelligence, #creatoreconomy, and #metaverse real estate. Additionally, he's a frequent speaker at CCTV+ (Video News Agency), Phoenix TV, TEDtoChina and Global Times…

In our conversation, Andrew and I delved deep into the evolving landscape of the #futureofwork in China. We discussed the lessons and tips for managing the #genz crew, and lastly, Andrew shared his inspirational life journey from growing up in the rural countryside to becoming a successful investor and entrepreneur today.

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My guest this week is Dr. Femin Diez, a rewards expert, ex-Senior Partner at Mercer, Professor, Top HR Influencer and Book author. Over the last 40+ years, Dr. Diez has witnessed the evolution of the rewards space through conducting his own research, teaching and  working with innovative companies across diverse international markets. One of his lifelong passions is to drive innovation and change in the rewards discipline, which unfortunately haven’t gone through much transformation throughout the last 40-50 years. The way we think about rewards design, motivation, performance and incentives are still largely based on an age-old job-based compensation system that was once developed to solve a labor crisis in the 1940s. 
In this thought-provoking episode, Dr. Diez shares his first-hand research and industry experience on innovative concepts and practices in the rewards space. He also discusses the history and evolution he has seen over the last 4 decades, and the rationale behind why he urges us to challenge old assumptions and adopt a customized approach in the new design. Lastly, he shares his inspirational career story and advice for growth stage startup rewards best practices.
"The future of pay - what got us here won’t get us there!"

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I hope you have enjoyed the very last month of SCALE UP this year.This very last month’s scaling lesson is all about 𝐧𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐜𝐲𝐜𝐥𝐞 𝐨𝐟 𝐥𝐢𝐟𝐞. I think as most of us reflect back this year, one thing we have all learned is that life operates in cycles. From the pandemic-fueled hyper-growth phase to this entire year of navigating uncertainties in the tech world and beyond, both companies and individuals experience these cycles every few years or decades. No one can truly escape this perpetual ebb and flow. High tides and low tides are constants. However, the wise adapt and work with these rhythms of life.James Raybould emphasized the importance of forever networking in life. Whether we find ourselves riding high or facing challenges, networking should never be neglected. Because time’s most crucial element is 𝐜𝐨𝐦𝐩𝐨𝐮𝐧𝐝 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭. The depth and duration of our relationships, especially human connections, compound over time. Even when you’re comfortable or feel invincible, remember to extend a helping hand to others. So when your tide recedes, you’ll need that same support.So how do you work with the tide? You need to get creative and you need to execute. Like Mohan Belani mentioned, it is not the end of the world, good funding environment or bad funding environment. If you are building a good product, you learn to work, pivot and tweak your approaches along the way. This is part of the journey and probably sth that will make you come out stronger. 𝐘𝐨𝐮 𝐡𝐚𝐯𝐞 𝐭𝐨 𝐠𝐞𝐭 𝐜𝐫𝐞𝐚𝐭𝐢𝐯𝐞, 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐭𝐨 𝐥𝐨𝐨𝐤 𝐚𝐭 𝐨𝐭𝐡𝐞𝐫 𝐚𝐯𝐞𝐧𝐮𝐞𝐬 𝐚𝐧𝐝 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐭𝐨 𝐞𝐱𝐞𝐜𝐮𝐭𝐞. Don’t just anticipate. You can do the perfect forecast. But if you don’t execute nothing will materialize and it will become too late after your prediction or forecast is complete.I hope you have enjoyed this month’s and this entire year’s scale up episodes. Happy to announce that the SCALE UP podcast has also landed in the most popular Chinese podcast channel Xiaohongshu and 即刻App.👉 Subscribe to never miss an episode! See you in 2024!#scaleup #podcast #happynewyear


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My guest this week is Mohan Belani, the Co-founder and CEO of e27, the preeminent platform for fostering connections, providing insights, and facilitating funding opportunities within Southeast Asia's dynamic startup ecosystem. With a compelling vision to equip entrepreneurs with the essential tools for nurturing and expanding their businesses across the Asia-Pacific region, e27 stands as the go-to resource.

Mohan is a trailblazing figure in the Southeast Asian startup and venture capital landscape, having embarked on this journey over a decade ago. His investment journey commenced shortly after completing his studies at the National University of Singapore (NUS), and he has since achieved notable success as an early-stage investor. Among his noteworthy portfolio companies are ]gLife, NirogStreet, Mindbloom and some early stage funds including Golden Gate Ventures, Kearny Jackson and Foxmont Capital.

In our conversation, I had the privilege of delving deep into Mohan's invaluable insights on scaling, tailored for both investors and startup founders. He also shared invaluable advice for founders navigating the challenges of the current funding landscape, often referred to as the 'funding winter.' Furthermore, Mohan shared the inspiring trajectory of his own personal journey and reflected on the significant leadership transformations he has witnessed over the years.

“Be willing to be misunderstood.”



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