Four-time highly successful entrepreneur, “algonaut,” and one of the earliest leaders of AI Peng Ong discusses the evolution of technology in multiple spheres in this week’s episode of Slaves to the Algo. In the first half of a deeply insightful conversation, Peng talked about the match-making algorithm (00:04:05) based on his experience as the co-founder of Match.com, how modern-day systems can evolve to build trust among consumers (00:13:14) and his journey from founding and exiting three very different companies to becoming a venture-capitalist with Monk’s Hill (00:17:45).
In the latter half of the episode, speaking from his position as an investor, Peng detailed how today’s startups differentiate themselves by focusing on establishing relationships with consumers, not transactions (00:24:33). Peng also described how Monk’s Hill is resolving returns while vying for long-term success in its portfolio (00:30:15) and shared his views on creating value from your bits even if your business is highly atomized (00:33:31). Finally, Peng wrapped up by predicting that while AI will drive productivity through the roof and perhaps lead to fewer jobs, its evolution can also address the massive challenge of climate change (00:36:35).