We’ve covered eSports in the past, the new billion-dollar industry.
What is eSports again?
Short for Electronic Sports, eSports equals professional competitive gaming. In other words, competitors play video games, while being watched by a live audience. Millions more watch the games online.
In this live podcast, former Deloitte partner and current investor/advisor of FazeClan—the top eSports crew in the world—shared some insights into how you can make a business out of eSports.
This Entrepreneur’s Led An IPO, ICO, And Actually Did What The McMahons Couldn’t. (Penetrate China.) Here’s How He Did It
In the world of startups and entrepreneurships, you have a lot of talk, a lot of dreams, a lot of hype and — ultimately — a lot of disappointments.
But that’s life. It’s a small world. And it doesn’t take long to get found out if you’re not the real deal.
In this Q&A, however, we brought the heat.
David Chen is a Millennial entrepreneur with the experience of a Wall Street retiree.
Billion-dollar merger? Check.
Multiple startup exits? Check.
Successful ICO? Check that, too.
And perhaps, most impressively, Dave’s managed to do something even the McMahons of the WWE couldn’t — penetrate the Chinese market successfully.
In this Q&A, we ask him why entrepreneurs fail to raise money, even if they have a good idea (hint: ideas ain’t shit), the first thing you need to do, and, finally, what the best industries were.
Let’s get right to it. What’s the main thing stopping entrepreneurs from raising money?
Knowing their audience. You can’t assume that you know something and that it works at one region, but not the rest. It’s a relationship—and most of the times there aren’t relationships out there.
Secondly, you don’t approach someone in esports like you would in commercial. So my FaZe Clan pitch is different from my commloan pitch.
When is the right time to raise money — and what’s the first thing an entrepreneur needs to do?
There is never a right time, there’s only a right project. Know all your answers, make it simple. If a 10-year-old doesn’t understand it, redo the pitch.
You’re on a number of boards of startups. What’s one you’re bullish on at the moment?
I love them all. Sharebert was named Forbes’ top 23 in tech innovation. Commloan has done over a billion in funding—and I’m a customer.
FaZe Clan is the largest esports team with 300M subscribers and 10B views last year. And Micamp 20/20 does the best credit card processing.
What’s the best startup play — or sector — right now?
Sharebert is a great startup play because the tech is there. The management team is there. The need is there. It’s just there.
FaZe Clan is great because they have the global market, viewership—and they’re different.
What’s the next frontier for start up world.
I see China as the next market.
Why do you say that?
I say that because they have 44% of the world’s population. And if you don’t work with them it, they’ll just do it themselves.
How Real Madrid’s Cristiano Ronaldo Spends His Millions
With a massive net worth that totals almost $400M, the 34-year old soccer player is also one of the richest sports stars in the world. With a string of deals, bonuses and endorsements coming his way, here’s how he spends his millions.
This Millennial Makes 6 Figures From Selling Other Peoples Stuff
Check out how this 32-year-old, Mark Meyer, started his business with a $400 loan. He is now making six figures, by selling other peoples items on Ebay and Amazon. He mostly gets his inventory from police auctions, liquidations and abandoned storage sales.