DeepSummary
In this podcast episode, Jason Yeh, co-founder of Patron, talks about his experience at Riot Games and how it informs his investment approach at Patron. He discusses how Riot Games created a massive global community around League of Legends, focusing on delivering value and creating products that people can use for thousands of hours. He also shares insights on how Riot Games built a passionate community, launched the game into new markets, and created a live service model for the game.
Jason Yeh then explains how these lessons from Riot Games translate into his investment thesis at Patron, which revolves around the idea of the "spectrum of play." He believes that the future of the consumer internet will be more fun, social, and interactive, much like the gaming experience. He also discusses the potential of blockchain technology and web3 in enabling personalization, ownership, and better organization of communities and incentives.
Additionally, Jason Yeh talks about how Patron invests in companies building in web3, and how he sees blockchain as a technology that can enable a better version of the internet. He also touches on the challenges of timing investments and the convergence of the gaming industry with other verticals like entertainment and content creation.
Key Episodes Takeaways
- The future of the consumer internet will be more fun, social, and interactive, drawing lessons from the gaming industry.
- Building passionate communities and understanding the audience's motivations is crucial for success in the consumer internet space.
- Blockchain and web3 technologies have the potential to enable personalization, ownership, and better organization of communities and incentives.
- Timing investments correctly is a significant challenge, balancing building for current users versus future users.
- The internet is enabling more global access to content and shared experiences across cultures.
- Gaming companies are at the forefront of UX design and systems design, and there is potential for the next big social network to start as a game.
- Investment opportunities exist in verticals like entertainment and content creation, leveraging blockchain technology for organizing creative talent and building intellectual property (IP).
- Companies are exploring ways to integrate blockchain technology into their products and services in a way that resonates with their existing communities.
Top Episodes Quotes
- “One thing which is really important is just like understanding somebody's motivation for using something. And I think playing a game, it can either be to spend time with your friends, it could be mastery, like proving that you're actually the best at something. It could be range showing that you can play like a variety of different characters.“ by Jason Yeh
- “I think one really interesting thing about kind of post pandemic, at least in our household. So I'm chinese, my wife is vietnamese, but we've probably watched more korean tv shows than any other, including English, like american film tv shows over the last two years.“ by Jason Yeh
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Episode Information
LA Venture
TenOneTen
1/4/23
The next version of the internet will feel a lot more like a game.
Jason Yeh and partner Brian Cho helped Riot Games scale League of Legends to a massive global scale. They take a lot of lessons from gaming as they invest from $90M Patron Fund I into what they call the "spectrum of play".