Ep 176 - The Hustle Behind Iterative
EPISODE INTRODUCTION
On our 3rd anniversary episode, Hsu Ken Ooi of Iterative joins us to share how they are building the YC of Southeast Asia. Hsu Ken will share his origin story being raised America and going back home to Malaysia every summer along with how he hustled while he was in school. He also shares how he struggled creating multiple startups with Brian Ma until they finally cracked the code with Decide that got acquired by eBay. Hsu Ken also shares why they decided to create an accelerator inspired by YC that is focused on Southeast Asia along with the types of founders and startups they like to support.
GUEST LINKS
Follow Hsu Ken Ooi on LinkedIn or reach him through his email hsuken@iterative.vc
Find more about Iterative on their official website and LinkedIn.
Listen to Hsu Ken Ooi’s The Iterative Podcast on Spotify.
EPISODE TOPICS
[0:45] Introducing Hsu Ken Ooi
[2:15] What’s Your Hustle: Iterative
[4:04] How Iterative Became Successful Due To Their Founders
[6:27] Hustle Share Time Machine
[9:00] How Hsu Ken Developed His Values as an Asian-American & Breaking Stereotypes
[11:49] Hsu Ken’s First Few Jobs
[13:42] Hsu Ken’s First Company
[14:48] One of Hsu Ken’s First Biggest Mistake
[17:43] How Hsu Ken Copes with Doubts
[20:53] The Corporate Lifestyle vs Startup Lifestyle
[29:39] Ron’s Journey in the Philippine Startup Eco-System
[31:11] Hsu Ken’s Journey and Exit with Decide.com
[34:25] Ron’s Reason for Starting Podcast Network Asia
[34:58] Hsu Ken’s Transition from Seattle to Silicon Valley (San Francisco)
[39:05] Hsu Ken’s YC Experience
[42:39] The Main Inspiration for Iterative
[49:52] Breaking Cultural Stereotypes and Molds
[51:30] The Reason for Iterative and its Impact
[53:01] What Iterative Looks For in its Founders
[59:15] Common Industries that Iterative Invests In
[1:02:47] The Future of Iterative
QUOTES FROM THE EPISODE
“If you’re doing this for the money, you’re probably gonna quit.”
“If you think this (startup) is a quick game to make a lot of money, then you’re in the wrong game.”
“It is never as bad as you think it is and it is never as good as you think it is. Stay in the middle.”
“The most important ability for a founder is to continue learning and stay motivated despite the lows.”
“Entrepreneurship is key (for development).”
RESOURCES MENTIONED
JARGON USED
Exit - In business, an exit happens when an entrepreneur sells their company to investors or to another company. An exit strategy gives a business owner a way to reduce or liquidate his stake in a business and, if the business is successful, make a substantial profit. (source: Investopedia.com)
Acquisition - An acquisition happens when a company buys majority or all of the shares of another, often smaller, company.
Y Combinator (YC) - Y Combinator is a company that provides seed funding for startups. Twice a year, they host the YC Program, a 3-month long program wherein they train startup founders about everything they need to know about the industry.
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