#45 Ask Me Anything Playing With Unicorns

I had not done an Ask Me Anything (AMA) session in over a year which led to many questions on a wide variety of topics: AI, augmented reality, crypto, macro and much more.
Here are the key questions we covered:
• 00:01:44 Artificial Intelligence: Where are we now? Where are we heading? What is the timeline? Why is FJ Labs a way contrarian on the AI trend?
• 00:09:42 What's your perspective on augmented reality? Is the Apple Vision Pro a revolution? And what is the timing for that to filter into our day-to-day life?
• 00:15:28 What was the fundamental inspiration for me to start OLX?
• 00:20:45 Can you give us some context or details on Midas?
• 00:23:15 Is there any way for a small retail investor to invest in early financing rounds for startups? If yes, how?
• 00:24:44 At for pre-seed rounds, what should be the GMV to get your attention? Let's say a new marketplace. What GMV would be impressive in the first month, six months, and one year?
• 00:25:39 What do I expect to see at the seed round?
• 00:26:41 What’s the correct take rate?
• 00:27:56 What are my current perspectives on the crypto market?
• 00:34:43 Does FJ Labs have an activist approach when investing in startups? How are you supporting the founders?
• 00:38:03 Is there going to be a fiat currency crisis where the dollar will be replaced? Will something like BTC become the reserve currency?
• 00:41:18 Have you decided on your next adventure for outdoor travel that you'd like to tackle?
• 00:43:11 I've heard that a startup should recoup their fully loaded Customer Acquisition Cost (CAC) within 6 months based on the contribution margin and then triple that amount within 18 months. Could you confirm if these numbers are accurate?
• 00:44:30 What should the first 3-6 months of a new startup look like? Talk to potential customers? Generate demand? Build a prototype? Validate hypotheses? Etc.
• 00:46:33 Does FJ Labs have an anti-portfolio?
• 00:50:28 Do you have any thoughts on the longevity industry? Do you think platforms like Hims or Ro will evolve in that direction, or will there be a new player?
• 00:53:33 I’ve listed things that I heard you consider when rating a startup. (1.) Team (2.) Unit Economics, significant TAM (3.) Fair deal terms, reasonable valuation, (4.) is it beneficial to the world, aligning the general direction of global trends, offering new opportunities to those with fewer opportunities. Is there anything else?
• 00:55:02 What build did I play at Elden Ring?
• 00:56:00 Did you have any mentor in your angel investor career? If yes, who is it? And how does the person help you?
• 00:58:49 Are you tempted to invest in AI?
• 01:00:08 What’s the most overused buzzword that you can't stand?
• 01:00:37 What valuation of a company is risky, yet a bit safe and worth the squeeze?
• 01:01:27 Any particular places or people you prefer to keep up with your bio health updates?
• 01:02:38 What is a surprisingly cheap and effective marketing channels?
• 01:03:50 As an investor, doesn't make sense to look for opportunities other than AI even though AI is “hot” now?
• 01:05:53 What are the most incredible business opportunities you have seen in preventative health lately?
• 01:07:04 Can you name successful blockchain based marketplaces that work with goods other than NFTs?
•01:11:39 Regarding Firgure.ai, when, in your opinion will we see humanoid robots in our daily lives? 3 years? 5 years? 20 years?
•01:14:15 Do you think asteroid mining is an industry that will become feasible or profitable within our lifetime?
• 01:16:08 We continue to see economic sentiment down, given the cost of money felt by consumers. Curious, given how you feel, especially the dire US consumers in Macroeconomic update where you see bright falls, bright spots in the landscape?
• 01:19:35 Whom do you think had the most impact on your investing thesis?
• 01:21:16 Is there something you'