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From Hong Kong to Silicon Valley: Perry's Journey as a Founder

Introduction
Perry's Background and Journey to Becoming a Founder
The Early Days in Silicon Valley
Starting Storm8 and the Gaming Industry
The Founding Team and Company Growth
Challenges and Decision to Sell the Company
Perry's Investment Firm, Locust Venture
Investment Focus and Geographical Scope
Decision-Making Process and Founder Support
The Startup Ecosystem in Hong Kong
Top Tech Trends and Investment Opportunities
Q&A

Perry's Journey: From Hong Kong to Silicon Valley

Introduction

In this article, we will explore Perry's journey from growing up in Hong Kong to becoming a successful founder in Silicon Valley. We will Delve into his background, his experience in the gaming industry, the founding of his company Storm8, and his transition to becoming an active angel investor. We will also touch upon his perspective on the startup ecosystem in Hong Kong and discuss his thoughts on Current tech and investment trends. So join us as we dive into Perry's fascinating story and gain insights into his entrepreneurial journey.

Perry's Background and Journey to Becoming a Founder

Perry, born and raised in Hong Kong, shares his early experiences and how his family later migrated to the United States. He attended high school in New York City before pursuing a degree in computer science at Cornell University. Even during his high school days, Perry's passion for programming led him to experiment with various languages and build his own projects. His Curiosity and eagerness to learn continued throughout college and beyond, which eventually led him to Silicon Valley.

The Early Days in Silicon Valley

After graduating from college, Perry made his way to Silicon Valley, attracted by its vibrant tech scene and endless opportunities. He started his career at Oracle before moving on to work at various companies, including Guy Wire and eventually landing at Facebook. Perry recalls his time at Facebook as a defining period in his life. It was there that he met great people and discovered his passion for implementing payment systems within the Facebook platform.

Starting Storm8 and the Gaming Industry

Perry's experience at Facebook inspired him to venture into the gaming industry. He saw the enormous potential and profitability of social games on Facebook and realized that creating a gaming company could be a lucrative business opportunity. Together with his co-founders, who were also friends from Facebook, Perry established Storm8 in 2009. The company focused on creating and developing social games that captivated users on the Facebook platform.

The Founding Team and Company Growth

Perry shares insights into how he built the founding team at Storm8, which consisted of himself, two friends from Facebook, and his wife. They all brought different skills to the table, with Perry and his friends handling the engineering aspect while his wife contributed in non-engineering areas. With a small team, Storm8 embarked on its journey to Create gaming experiences that would resonate with users and capture their Attention.

As Storm8 continued to grow, it faced its fair share of ups and downs. At its peak, the company had over 300 employees, but it later downsized to about 100 people due to challenges and roadblocks. Perry highlights the importance of adaptability and the ability to navigate through difficult times in the ever-evolving gaming industry.

Challenges and Decision to Sell the Company

One of the challenges Storm8 faced was the need for funding. While many startups opt to Raise money from venture capitalists, Storm8 took a different path by bootstrapping and focusing on profitability from early on. Perry explains that raising money was challenging during the financial crisis of 2008, and they were also cautious about finding the right investor who aligned with their values and vision.

In 2020, after successfully operating for 12 years, Storm8 sold the company. Perry stepped down as CEO the following year. He reflects on the decision to sell and Talks about the timing, which coincided with the onset of the COVID-19 pandemic. Despite the challenging circumstances, the sale marked a significant milestone for Perry and the team at Storm8.

Perry's Investment Firm, Locust Venture

Following his exit from Storm8, Perry shifted his focus to investing and became an active angel investor. He co-founded Locust Venture, an early-stage fund that primarily focuses on seed and pre-seed investments. Perry and his partners share a common background in technology and entrepreneurship, enabling them to provide valuable insights to the founders they invest in.

Investment Focus and Geographical Scope

Locust Venture invests in startups across various industries, with a particular interest in the intersection of technology and gaming. While their investment scope primarily covers North America and Southeast Asia, they also explore opportunities worldwide. Perry emphasizes the importance of finding niche markets and serving them exceptionally well, rather than attempting to replicate Silicon Valley's startup-focused ecosystem.

Decision-Making Process and Founder Support

As a fund, Locust Venture follows a streamlined decision-making process. Typically, one or two partners meet with the founders for an initial conversation, and Based on the outcome, they proceed with further due diligence or ask follow-up questions. Perry encourages founders to leverage their own networks and Seek warm introductions to increase their chances of getting noticed by potential investors.

Locust Venture prides itself on its hands-on approach and the value it brings to the startups in its portfolio. Perry and his partners understand the challenges faced by founders and offer support in various areas, such as hiring, data analysis, and technical expertise. They aim to be more than just capital providers and actively engage with the companies they invest in.

The Startup Ecosystem in Hong Kong

As a Hong Kong native, Perry shares his observations on the startup ecosystem in the city. He believes that creating a successful startup economy requires a focus on specific niche markets rather than attempting to replicate the entire Silicon Valley model. Perry suggests that Hong Kong should identify underserved markets and build a startup ecosystem around those industries. By doing so, the city can attract Relevant talent and foster a thriving entrepreneurial environment.

Top Tech Trends and Investment Opportunities

Perry shares his excitement about the Web3 and blockchain gaming space, envisioning a new era of interactive and immersive gaming experiences. While he acknowledges the potential of play-to-earn models and NFTs in the gaming industry, Perry emphasizes the importance of creating entertaining experiences for users, regardless of the underlying technology. Additionally, he identifies trading and finance as potential areas of growth within the crypto space.

Q&A

The article concludes with a dynamic Q&A session, where Perry addresses questions from the audience. Topics discussed include the importance of full-time commitment from founders, the decision-making process at Locust Venture, and Perry's personal interests in web3 gaming and investment criteria.