This is Knowledge Surfing, a podcast that covers the latest tech trend with founders and investors. In this episode, we’re excited to welcome Patrick Lee to our show. Patrick is best known as the co-founder and CEO of Rotten Tomatoes. Recently, he launched PKO Investments which focused on the intersection of tech & entertainment.
Highlights🌊
🤷♂️ Web2 or Web3? Which side is Patrick on?
🤔 How can blockchain change the entertainment industry?
💵 What is PKO Investments?
🧚 The rise of angel groups and syndicates
*Everything that’s discussed on the show should not be considered financial advice. Please do your own research!
How did Patrick start his startup journey?
Patrick started Rotten Tomatoes in the late 90s, and soon after the Dotcom bubble burst. It was a really hard time for anyone trying to run a startup. However, his passion and belief in the Internet and tech industry supported him through the tough times. Patrick thought the biggest change between doing a startup 20 years ago and now is that, now founding or working in a startup has become a trend. And Silicon Valley basically has become the “Hollywood of startups.”
Web2 or Web3? Which side is Patrick on?
At first, Patrick was not a fan of blockchain startups, because most people in the space seem to be only driven by money rather than actually want to build something. However, he changed his mind when he read about Axie Infinity and how the Play-to-Earn model helped some people in South East Asia earn money and make a living during the pandemic.
Thoughts on how blockchain and web3 can change the entertainment industry?
Patrick sees a lot of web3 companies are trying to make the distribution of artists’ income more evenly. Artists or creators can’t make very much from streaming platforms or Youtube abs. But Web3 opens new revenue streams for creators. Users and fans can become investors of the artists through tokens or NFTs, and tokens may increase in value and can be traded on secondary markets such as Opensea.
What is PKO Investments?
PKO is a syndicate that invests in startups in the intersection of tech and entertainment. It consists of 700+ top operators and investors from the tech and entertainment industries. The goal is to bring more value-add to syndicate companies.
*Glossary:
- Not Boring
Not Boring is a popular newsletter written by Packy McCormick. It covers tech companies, business events, and trends in an interesting & easy-to-digest way.
