It's a privilege to be here. Thank you to the Asia VR team and Junko and Roy and to organize this because it's probably my first official visit back in having a session here in Singapore after being away for so long. So it's awesome to be back here. So just for clarification, I'm actually from Singapore. I've just been in China for the past 11 years. It's my professional career. So before I set this up, I was actually running Unity China. Actually, I was the employee number one. I helped set up Unity in China and Taiwan and Hong Kong. So that was in 2011. And before that, I spent 12 years in Microsoft. And so it has always been a technology field for a long time. So I saw the rise of PC and Wi-Fi. In 2011, I saw that 3D content is going to make a difference in what we do. So that was when I jumped in and joined Unity through the trend. When I first joined Unity, we had about 10,000 developers in China on developing 3D. In the last four or five years now, it's probably close to a million people using Unity alone. So it has been phenomenal. When I first met with... I think I came in contact with VR. Of course, when I was in IBM days, I saw the big machine put a head in the virtual reality space. It's only a few years ago when Pawan Laki, the founder for Oculus, came to us actually where at a time, he hadn't been acquired by Facebook yet. He made this machine and he needed content. All hardware manufacturers needs content, right? So he came to us and said, hey, can I have some content running on Unity? And so we actually posted a few contents to Oculus. And of course, six months later, he was acquired by Facebook and the rest is history. So that's why we're here. So when I first saw that a few years ago, I saw the trend of virtual reality. So to Charvin's point, why do I open my feet and be in this field full-time? Because a few things. One, if you see the technology trend over the last 20, 30 years, Microsoft took about 30 over years to get PC on every desktop. And it took them 30 plus years. Now it has reached close to about six billion people. Is it four to five billion across the board? And iPhone. iPhone alone, does anybody know how long has iPhone 1 been around since now? It's been around for a second. There you go. So it has only been about 10 years. So can you imagine from the era, iPhone 1 to now has only been 10 years. So it took smartphone 10 years to be as pervasive as what it is today. So every generation, so for me, being a technology viewer, I've always been asking myself, what is the next screen? Because the next screen factor, it's going to determine how contents evolved and how we build contents around the screen. And so when I saw virtual reality, I saw Oculus being acquired. I said, hey, this might be the next big thing. And so I've tracked it for quite some time. And so last year, I finally left my professional career and I set up this company called UCC VR. It stands for Ultimate Creators Create Virtual Reality in short. Well, we're terrible at branding, so in short. So UCC VR, and I set up in Shanghai because I've been in Shanghai for four years, for the Beijing Seven Years, partly because a few factors. Number one, if you look at what's happening in the valley, Silicon Valley, well, the majority of the reason why Silicon Valley was big in the IT tech era was really because of the history that Silicon Valley had. You have the Cisco, you have the HP, you have the IBM, they had the talent that accumulated in Silicon Valley. And then, of course, you have the money. Because for every new industries to happen, I think there has to be four things to happen before a new industry will take place. Number one, you need great ideas. So all of you here belongs to that category. We all have great ideas. And the fact that you are here means that you're interested in this new thing. So ideas is first thing. The second of all, you need people. You need talents to commit themselves to the idea. And so people like everyone here who has been going full time, started a business, entrepreneur, or you joined a big company, and then you are in this era. So that's talent. The third thing talent needs to be sustainable is money. So that's a realistic side of question, right? You can have dreams, but if you don't have funding, then your ideas and your time will not be fully utilized. And so industry needs investments to especially kickstart a new industry. The last thing an industry needs is a business model. Because as an investor, the investor can give you enough funding for one year, two years, and probably that's it. If you can't find your business model after an example of years, it's very difficult for the investment community to continue funding you for a long time. So it's important. Any new technology, you have to find a new business model for this thing to take off. And so along that line, I reckon if I were to participate in this industry, it makes sense for me to do a few things. One, I set up a community. So I bring people together in this community. This is a great community in Singapore. And you guys should be awfully proud of yourself. The second thing is investments. So all community needs investments. And the second story I tell is accidental. The reason why I'm here is because Vito Chiang Kuo took part in our games competition last year. I ran a national-wide competition in China and his team took part, won some awards, and so we invested in them. So we were the early stage investors in Vito. And so because of that, I decided to come back and say, hey, talent exists everywhere. Talent exists in the US. Talent exists in the West. Talent exists in the East. So talent exists everywhere. But the question is that the right talent has to be matched with the right dollars, has to be matched with the right ideas, and has to be matched with the right market. And that's the reason why I've been trying it for 11 years, because it has the right market, at least in my view, a big enough market to sustain new ideas, to try new ideas. And so the whole gist of today's conversation is about a few things. So a few things have been absent in the war. I think UCVR is probably one of the most aggressive. If you look at the US, you have the river, you have a few people. And then in China, there's a few investment funds that's been pretty aggressive, focusing on the space as well. UCVR is probably one of the most aggressive there as well. Because a big reason is because I've seen this community literally grow up from a few years ago. So just to share with you some of the thinking and observation that I've seen. So content-wise, give you some numbers. And I have intentionally taken numbers from different sources. Now if you are a true MI person, a market intelligence person, you would know, hey, never take numbers from different places because you'll never add up. But I've intentionally taken numbers from different places just to give you a sense across all the analysts in the world how they view this market. So Chauhan gave you a good overview from what he thinks in terms of contents. But in terms of the overall big market, the investment bankers out there, the investment guys out there, where do they see the money and where do they see the numbers. So just to share you with a few numbers. So don't take the numbers and try to translate them. It doesn't add up because it's from different sources. But just to give you a sense, a glimpse of how the analysts in the world are looking at this opportunity. Hardware projection. Like I said, any industry to take off, you've got to first have, if there was no iPhone, there wouldn't be an Angry Bird that would be as successful. The iPhone needs an Angry Bird. The theater needs an avatar. So good hardware always needs good content. And then you have a platform players. So it's a certain projection that you need to go with in the industry. And of course, just to share with you some glimpse from our trenches. What does it look like in China right now? And of course a bit of an explanation about what we do. So if you have any questions, feel free to raise your hands and just feel free to shout. If I'm slow with some numbers conversion and my calculator doesn't work as fast in translating between Chinese numbers and English numbers. So between millions and the Chinese denominators. So if you look at the whole overall projection, as a market, for an industry to feed itself, for an industry to sustain the talent pool that's coming into an industry, it has to have sufficient, big enough space. And so this number is from Goomansarch. And so you look at the numbers, the baseline case the base case itself they are looking at about 70 billion market. So it's interesting. 70 billion US dollars market and that's 80 billion US market. So 45 hardware and 35 software. And that's the base case. The base case could be 182. The worst case could be a lot lower. So what is interesting here is that if you look at the trend, the numbers varies quite a lot. Usually when you say base case and worst case, Singapore GDP, when you predict GDP, you say, hey, base case 0.3, worst case 0.5, worst case 0.2. So you don't have that much difference. Here's a big delta. What does it show you? It shows you that no one knows better. No one knows better. Everybody is guessing. But from a technology point of view, you go in because you think it has some leeway. From a business point of view, because you think, oh, maybe out of the technology, some business model will evolve. But regardless, whatever path that you choose for yourself, either a professional career or entrepreneurship, it's critical for you to think about what you want to do and what space are you most passionate about. But in any case, just keep in mind that about 80 billion is what women such as say. The other thing is that if you look at the growth projection from the tiger, the tiger means year on year over X number of years. In 2025, the average category is 50%. So that's good. Worldwide 50% growth worldwide. So that's the projection of what women such is thinking about. So just keep that in mind. The second thing when you look at the market is there is a lot of conversation about VR, AR, and MR. There are other terms I've seen as well, but overall, those are three big words that came out, VR, AR, and MR. So just out of curiosity in this room, how many of you have tried with a Google? I mean, a HMD. How many have tried a HMD? Thank you. How many have not tried a HMD? Cool. So there's a few of you. So my number one thing is if you have not tried, get out there and try one. HTC, it's an example of a PC base. Samsung Gear, it's an example of a mobile base. And then you have others, AR devices as well. What was most encouraging for me was I went to my summer holidays, right? And I was in family dinner two nights ago. And guess what? My cousin, who is like 19 years old, going to army this year, actually has a Samsung Gear VR. And that was very encouraged because to see a gear landing in the hands of a consumer means that we are one step closer to the market. But what is critical here is these two products are too small for you. We can share this online later if you want to. But you can see some of the devices that's out there. This is from Kaiser in 2015. So what is really fascinating is that in the last one year, the number of hardware devices that came out is a lot. If you go there, you look at four from Japan. You look at, we name it. I'll share with you a lot from China later as well. They called China the Hua Chang Bei. It's the Shenzhen, where it's a big cloning machine going on. So there's a lot of hardware coming out from China too. And so some of the numbers will kind of shock you. It will shock me when I first heard the numbers. But the cool thing is to see the number of innovation. Because everyone is innovating. Because with the technology, it's not stable. That means not so much stable is not right word. But if it's not mature, so there will be a lot of people trying different stuff. And so everybody is trying to put things together, some with AR, some with VR. And it's really cool to see the innovation. To a late-stage investor, a big guy like Temasek for example, they'll say, hey, this is too early. I don't see the model. But there are a lot of early-stage guys as well. They can help you along your way. Now the next thing is VR, AR. So a lot of people say, hey, how do you see virtual and AR? My view is AR will be bigger than VR. Because it's very hard to be locked into an environment and not be aware of your external environment for a very long time. The comfort feeling of a headset right now is not that great. So I think AR will take on whole and be a big way. But for AR to really take whole, it requires two main things. One, it requires a very good HMD. Because for us to put a thing over, HoloLens is a great try, but it's really not the best experience. And it's way too expensive. So AR needs to have a good glass. They have a white, good enough view. So one thing is the headset. So I feel like the cost of a VR headset will be lower than AR, because when you close everything up, versus you open everything up and capture, motion capture everything around you, the cost of AR headset inevitably will be higher than a VR headset. Makes sense? There's just more components to put in there. So I think AR headsets will be a 2.0 of the VR headsets manufacturers. So if I'm a VR manufacturer, again, my market share, I do a next release product update and it becomes an AR device, perhaps that's better. That means my channel has been built, my customers have been built as well. So I think AR headsets will require some time before the AR, to use the VR headsets to get the consumer share before you introduce the AR headsets. So that's one thing, headsets. Number two, for AR to take whole, today AR is really just, where Pokemon Go is a classic example, is a game, but it's not, you won't be connected to the game forever. It's just a game experience. Just like you watch Avatar, you won't watch Avatar 10,000 times. So it's, whereas the rest of AR experiences are all in B2B, so business to business. Today I sell my services to a customer and I use that as a new medium to integrate the experience. But for AR to really take whole in like a consumer lifestyle, it will be something like Google Maps.  So that makes sense, because for AR to really integrate, when I put on my glasses, I need to know who you are. So that flag or that ID is super critical. So I personally think, my sense is the face would become the ID. In China, we have to re-chat. RFID is a re-chat. I think the face would be the next identifier. So when I look at you, and if I Google and scan enough data of everyone and I capture all the information on the web, when I look at you, I can integrate your data. And that's AR to me. So I think that before that day comes, I think VR would have its place in market and as it evolves, there's more and more things coming into the market as well. So that's anyway, my view could be wrong, could be right, but it's anyone's guess. So let's look at the... So a lot of content developers ask me, right? So if I am a content developer, first, if I'm Angrybird, I've got to make sure that number one, I choose the right platform. If Angrybird says, no, I'm not going to do iPhone or something else, Angrybird would have missed the chance to get an iPhone. So the platform that you choose is very important. So just to give you a background across some of the platforms that I see, so Oculus and HTC will be cool and great. HTC have a full motion to a B2B space, it's great, but to a B2C space, it's going very hard, especially in Asia. Most of us don't have big houses, right? We don't leave the Hollywood Waves, we don't have a big house. It's very hard for me to have two devices. Even if you give me a HTC today, I'll leave it in my house. So it's going to be a challenge. So I think HTC and Oculus will have its place. I think at least in HTC that I've seen so far, it's very much in the B2B space. So if I'm in a B2B, I'm trying to get a project from some big customer, for example, a property developer, and I put in a HTC configuration with a high-end PC, that's fine. But if I start selling in, say, the war months of the world, it's very tough. So when I look at HTC and Oculus, I think it's clearly positioned. Of course HTC sells to the Steam gamers as well, but I'm just saying that the volume would not be that great. PSVR, worldwide, I think we are partnering very closely with Sony, especially for the China launch, and the numbers I've seen so far has been optimistic. Now, for a user who has four to pay an R399 to buy over Christmas season as a gift, I think that's a valid business model. I do not need to buy a $4000 machine to buy a HMD, so just an upgrade. And the Sony executive in the worldwide thinks the same way too. So the way they position PSVR is really like a peripheral. So just like gear, it's a peripheral. If Samsung, today, the cost of the gear VR is in a range of probably 25 US, 30 US dollars. So I'm talking about the cost of the bomb, the build materials. And the Chinese manufacturers have come to me and said, it's going to be 15 US dollars. Well, some of the manufacturers I've seen has got it down to 15 US dollars. So a 15 US dollars bomb makes it easier to get it into smartphone devices. And that's pumped to my next slide. If you look at the mobile, it is going to make a huge difference. And I'm saying everyone. Every cellphone manufacturer in the world that I've spoken to have already planned a VR headset. There's not a single one that I know of that doesn't have a VR plan in the pipeline. So if you look at the shipment numbers out there in the world, Apple is one. And I think I have a conspiracy theory that says Apple is not going to VR because it's their way of differentiating against the competitors. Why do I say that? Because Apple, if you look at the price sensitivity of Apple, it's not as high. Apple and Samsung is one category versus the rest of the guys. Makes sense? So if I'm Apple today, Samsung already has a gear. If I start introducing increased costs into my bomb, if I can continue to keep my costs down, it actually forces all the other operators who was trying to go to VR to lose more money. Because if you think about Samsung in the gear, they have been giving out gear as part of their operations together with Galaxy S6 and S7 series. So it's price sensitivity out there as well. It's really not hard to get a VR experience. I have this device from Syngen, one of the teams that I looked at. So for example, this is an Apple device and it's really just a cradle and you can turn it into VR glass straight away. It's a fantastic experience. It's at least a 10-15 minutes experience. It's fine. I can hold it and I can come to VR. So everybody that has an iPhone case can be a VR, simple 360 sort of an experience scroll. So it opens up a different market altogether. Now, technology opens up a different market, business model, you've got to think about that. Because the business model for PSVR and Steam and Oculus Store, it's very valid. I put something online. I download it. I charge as a premium title. That makes a lot of sense. In the mobile space, especially on Android, there's a different animal altogether. Very few people makes that much revenue of premium titles in the Android environment. So the business model is something we can talk about later. But from a device support point of view, my recommendations to most of the teams that I invested in, the Steam one, support PSVR because I think they could have more treatments than we think. Number two, supports at least gear as standard. And so if you use S7 or S6 as the gear as the basis, every hardware manufacturer is going to bump out. From what I've gathered so far, at least 40% of all manufacturers, branded manufacturers would support Snapdragon 820 after the end of the year. And plus, Daydream is really a standard out there. So you would have a lot more VR ready handsets come end of the year. So that would be a big thing to look out for come end of the year. So if you're developing something, my suggestion is stay as S7 as standard and then move out to PSVR if you want to do your platform support. And when you're developing on PSVR, keep this in mind. A lot of people don't realize this. They happily develop, they go to Simdom Square, they buy the best machine and then they bring it home and they start coding. They work everything on HTC and then when they need to port to PSVR, they are huge headache. Because PS4 technical specs, it's only a fraction of the machine out there. So when you're developing on PSVR, my suggestion is that make sure your development machines don't buy the 820, I don't know, 1080, the latest machine graphics card and then in the end you spend a lot of time migrating downwards to support. It's not hard to develop the coolest and latest and the most cinematic experience but it's really, really a test of your technical knowledge and when you need to support the low end devices like the smartphones and the PSVR. So test yourself on that. Just be conscious of what you are developing and the platform that you are supporting as well. That's critical because that will save you at least three to six months of developing life cycle. Now, we've spoken about hardware, we've spoken about the trend. Let's talk about software. Now, when you look at the, so video games is clearly the big thing, right? Because if you look at 3D cinemas, before Avatar came out everybody was talking about 3D cinemas but nothing really took off until Avatar came along. iPhone was the same, right? I still remember the conversations between iPhone versus Blackberry. Do you remember RIM? Right? A long time ago there used to be a company called RIM. So, can you imagine, everybody would say Quarky Klee versus The Touchpad and this is no longer a conversation today and that only took what, five years? So, my point is a lot of your friends would tell you, if you're going to take a long time, a long, long later, they might be right. But then again, there's a chance that you might be right. Okay? So, hold on to that hope and the belief that you might be right. And at the same time, if you are right, then what are you going to do?  So, that's something to think about. So, in the content space, video games is clearly one thing because entertainment helps get to the hands of consumers the quickest, life events. So, this is really interesting. I personally don't quite agree with the mix because it left out one thing. Pawn. Huge. Let me tell you, it's huge. I've seen DMM, I've seen the companies because, yeah, and David Halbertson sits on the board of one of Pawn companies that month. So, it's huge. In fact, I forgot to tell you one number which I didn't put up there because it's a production number. But, you know, if you go to Simlin Square, I just saw this guy called VR Box in Simlin Square. I can't remember exactly how much he was selling for. But anyway, that cost. Can you believe how much is that cost of the Box device? Well, it's a plastic version of a Google Cardboard. Right? So, it's like $4 sim. Okay? $4 sim, that's from Xinjiang. $4, $5 sim. And guess what? Three companies from Xinjiang in the last 12 months, I'll say, 12 to 9 months. How many boxes do you think have shipped out? Three companies from Xinjiang. Make a guess of that plastic Google Cardboard. Someone being a guess. No prize. I forgot to bring in the t-shirts. It's for holiday. So, just tell the number. $3 million. Anyone? $6 million. Calling twice? $10 million. Okay? Three companies shipped out $10 million of those plastic Box. They're selling for, I think, $140 RMB. So, you divide by $6, you get a US dollar. Okay? So, that's it's phenomenal. And up to this day, nobody knows where they go. I've asked everyone, where did they go? It's $10 million boxes. Where did they go? Well, at least I saw five in Simlin Square. I think Pond is a big thing. So, I think a lot of them went to Pond. So, I have my personal values. I don't support Pond industry. But, I'm just saying from industry point of view, a lot of it is happening that way. Right? So, is it a good thing? I don't know. But, the key thing is that, so that market is also quite big as well. But, you look at that industry and you look at video games, you look at healthcare. I'm big on education. I mean, sure sure is the chairman for HTC. She totally agrees with me as well. We think that VR in education is going to be huge. I have seen a demo when a teacher is teaching and the students are all carrying wearing glasses and then the teacher can use the iPad to control what the students learn. I think education is a huge thing. And I think that in the new medium, if you look at PC, you look at iPads, you look at tablets, and you look at the phone, where was the place where it was really broadly propagated. It's education. You look at Apple. Apple for the longest time. Apple Education B Business Unit has been critical in propagating Apple technology for the longest time. And so, I think education content is absolutely critical. So, for those of you who are working, you have contacts, you have your aunt and uncle working at MOE, talk to them, get some traction in there and start using some of these core contents to make a difference. I think education is huge. Real estate is very big in China. Now, I'll give you an example. This is a real example. For a real property developer, for example, if I am the Far East, I don't know about Singapore regulations, but in China, for example, if I'm the Far East in China, for me to, once I get a piece of land, for me to actually get a showcase out there and start getting show flag, to start getting consumers into the show flag to pay me deposits. It takes me about 18 months also. 18 months to apply for the permits, and China is a very complex place to get permits. And number two, it costs me about 20 million RMB and you give up by 6 to get US dollars. It would do to have a show flag ready for consumers to come in to e-mail their checks. So, at least 18 to 24 months. But with the latest technology, VR, you guess what? You can create the content for one 10th the price, and at one 10th the time. And you can go to market at a much quicker way. That's huge. That is when technology is going to make a difference.  But if it changes the rules of a vertical industry, it could be a huge thing. So I personally go when I look at teams, I have a one 10th principle. Whatever the team is doing, does it have the space to become, does it have the potential to become a one 10th of the price, and one 10th of the time? If you do, then you will change the rule. That's how PC changed the rule on mainframe. That's how smartphone changed the rule on PC. It's exactly that. You have to be faster, quicker, and at a much lower cost. So huge conversation, huge thing to think about. I think as a technology platform, think of it as a screen where all around you is a screen. Then there is really no limit to whatever industry you can cover. Literally every industry. It is just a matter of which industry starts first. Makes sense? There are still some ministries today that doesn't use PC on the internet. Just kidding. It's a joke in Singapore, right? But you know, PC was a big thing and it took time for all the verticals to get online, to endorse internet in a big way. Well, in VR, I think it would be the same thing. So there will be some industries that go first, but it does not mean that, you know, if visualization is the technology and I call VR, AR a visualization technology, then it will have a potential to change a lot of things, how things are being done today. So just a quick note there. I looked at internet as a form of connection for the world, right? I still remember the days when I was doing a Unix machine. I have to go to every single machine and install a TCPIP protocol. I don't know, some of you might be, if you tell me yes, then you are at each group as well. But I remember those days when we had to install a protocol to connect to the internet. So if internet is the protocol that engages and brings everybody together, I, the reason why I think VR would be great because it would be the visualization of VR, AR would be the visualization layer that brings experience to the next level. So if you think along that trend, what sort of skill sets do you need yourself? What sort of skill sets do you need in your team to leverage the connection that was already brought together by internet at the same time to bring visualization to the next level and to understand the industry enough to make the difference. So that's something for you to think about too. Okay, China. I first shared a slide, I think about three, four years ago, when I was going around with the Unity crew in Unite. So from then to now, a lot of people understood China a lot better. But for some of you who really have really engaged Chinese customers in a big way, just to give you a quick background on Chinese economy. So overall, when you look at, I proceed to look at China as a country. When I look at China, I always think of it as East. It is an EU of the East. There are 30 over provinces. But you know, there are 30 over provinces in China and everyone is a different GDP. Every city is so different. When I was in Beijing, I could clearly remember when I was in Beijing city itself, the metro city, you can feel the bustle and the hustle of a strong first-tier city. And then when you drive one hour out, there is a farm there and out there. So it's a big contrast. So when you build something, I remember Steve Barma when he was a CEO for Microsoft used to say this in front of all of us. When you think of China, never think of China as a single economy. Think of it as a market segment that you need to split up. So when you think of EU, for example, you don't think of EU as one country. Make sense? When you think of Germany, it's very different from the way you think of Lithuania. Very different, right? So that's the way you should think about when you think of China. China is so along the coastal area as close to about 200 million people that you can target. If you look at the WeChat numbers, WeChat is a... We don't have Facebook. And so a lot of people ask me, do you have Facebook? No. Other than if I do a firewall thing. WhatsApp is really slow. So if you want to talk to me, get yourself a WeChat because that's the fastest way of communication for me. So when you look at the WeChat numbers in the eastern region at night, the eastern region people, the people along Shanghai, Hangzhou. Is there a pointer here? Yeah, yeah. There's a pointer. So this area, so if you look at this area, the people at night, they are looking at videos. They are chatting on WeChat. You know, it's just like WhatsApp. If you look at people here, they are all playing games. And it's very clear. The numbers are very, very clear. I think I want to remember the exact numbers. 60% are WeChatting and watching videos here. And then 60% are all playing games here. When I was in unity, I mean when I was driving mobile gaming in China, that year we had 500 million RMB of revenue all up in the industry. Today it's already at 6 billion. Right? So 60% of revenue came from this region. So if you are building a game and you want to go to play and you want to compete with the Chinese guys, don't build it for here. Build it for here. The guys that's in at home, they don't have they don't have KTV. They don't have that many cinemas. They have no entertainment. And so the phone becomes their entertainment. And so a great game that's engaging that is not, you know, you don't have. So that's why when you design a content, be clear who you're designing for. The over point I'm driving here is be very clear who you're designing for. When somebody says I want to go in China and it says I'm penetrated in Beijing and Shanghai. That's nothing. That's nothing at all. Okay? So there's about 40 over T1 cities. So if you want to, we talk more in details. I can go on for half an hour at least on this slide alone. So in any case it's a different province. So when you want to build something, you want to do a business in China. Think about where exactly you want to be in. Now let's talk about the numbers. The very west. The very west. This place, Xinjiang and Tibet we usually don't even cover that. Because the GDP is way too low. They're very religious. They don't really support technology. It's not that well-exampled too. So, yeah. So just to give you a background it's tough. I used to run a team of 150 people all across China just trying to sell machines into each region. And the way you sell is very, very different too. So why am I acceptable of Europe? Because I think for the first time 30 years ago, Chinese doesn't have access to consoles. In fact most of them don't even have access to PC and Internet. And so if you look at what happened in the mobile era, China got an equal footing with the West. So today the biggest gaming company Microsoft is no longer Microsoft. It is Tencent. It's amazing. It was unbelievable. I would not believe if you told me that five years ago. Tencent is the number one biggest gaming company by revenue in the world today. Microsoft is second. Right? Ubisoft could be sold to the Chinese guys very soon. That's not a joke. So I've been involved in many... The reason why I base myself in China is because the money that is in China is amazing. Because I call it the three firewalls. The first firewall is what you heard of is the great firewall of China where you can't access Facebook and Twitter. The second firewall is the monetary currency firewall where the R&B conversion is controlled. And so therefore they can have a very close economy and help boost and they have different ratings versus the PE levels etc. A gaming company, if I list in NASDAQ five times, six times, seven times if I list it in China it could be a hundred times. And so the artificial valuation helps them fund the overseas expansion. So it's a strategic level. The top level in China is really, really cool. I mean it's super smart. And then the third firewall is the policies. If you have content platform in content platform in China you can't unless you have the Chinese passport.  There is some positivity of it. There is some negativity of it. But from a business point of view it is positive in the sense that the investments that comes out. So that's why for us, for example I raised capital in China and part of it in China, part of it overseas. But majority in China and then I invest overseas. So we look at what's happening right now. In fact in the last what's fascinating last year everybody, the Western, the best companies in the world. I'm talking about the best VR companies in the world. You can think about the top, I wouldn't put names, but you think about those companies that's the best in VR in their respective scenarios by platform, by contents, by video, by hardware. Almost all of them that I know have came to China, have looked for funding. I personally have led through most of the companies. So it's amazing. With the investments, like I said, ideas, people and money. And so with the strength of the Chinese economy I think Asia is going to lead. And I think China will be at least one third of Asia. Because if you look at Asia in the historical way you have Japan probably it makes up one third of the economy. You have Korea plus maybe Taiwan as the next thing Korea, India, Taiwan probably in that cluster and then you have China. So China will at least be one third. But what's fascinating for me is in the VR and AR world, China has really leapfrogged into the rest of the world. The investments in China is no less than what's the investment in Silicon Valley right now. So that's why I said all the guys who are entrepreneurs in the US have all came in one way or form in the last three to six months. Why? Because they need funding. It's as simple as that. And Silicon Valley is less is more risk-averse at this point in time. So it's interesting. So for me and the other thing is that what's the other fascinating thing about China in the last nine months has been any stock market any stock company any company that's listed in the stock market in China that got themselves slapped with a VR thing they are PE roast. It's crazy. I've never seen it anywhere in the world but it happened. That's why in the last six months literally every company, a construction company whatever, there was a joke even a Siemens Mixer company that's listed in the Chinese stock exchange they want to get myself VR because then their PE can become from 10 to 100. It's crazy. But that was what happened and of course the stock exchange came in and stopped them. But because of that thing in the last six months the understanding and the awareness of virtual reality in China, it's fascinating. You can walk on the street. I was in a shopping mall sitting now having my lunch and two old folks beside me and they're talking virtual reality. Wow, cool. Can you imagine? They're talking virtual reality because they say, which virtual reality stock should I buy? But it sounds crazy for a technology but it helps. It helps us propagate our cause, right? So the point here is the awareness of China is very huge. There's a huge adoption most of the B2B companies I've seen are all putting some kind of virtual reality concept or experiment behind their projects and it brings me back to 30 plus years ago when 30 plus years ago when there was a thing called Internet. When you say I'm Internet ready what's the first thing you did? Do you remember? What's the first thing you did? Internet ready? There you go. You create a website you use at the time Microsoft front page and do www.abc.com and you raise your hand and say I'm Internet ready I'm an Internet company right? That's what we did right? That's what the old days so likewise I think VR is going to be the same. I think when the traditional companies the brick and mortar companies even some of the old Internet companies as they think about reinventing themselves to be VR they will need to have a VR experience so you could do projects for these companies and make them VR that's why Alibaba came out with a bi-plus video. It's really cool you can do Internet shopping on virtual reality and by the way Alibaba has a huge strategic footprint on VR because they have now invested into Magic Lib they're sitting on Mr. Tree is sitting on the board of Magic Lib and so they're using Magic Lib as AR technology to try to bring online shopping they're going to reinvent the entire e-commerce experience whereas Amazon is going to play in that role whereas all the e-commerce websites are going to play in Singapore on that role so these are things that we need to be aware of so if you, whatever the first thing you can do go find one company and give them a VR experience I think there's a room for you in the long term so anyway so that says there's something about, and of course we think that by the way this is not from me, this is from Digital Capital the target for China is to be 100% and with the stock market probably more so and this is too much names to go through so as you can imagine when you have 2015 the turnover, I'm not talking investments, I'm talking turnover, the turnover from China was close to about 2 to 300 million RMB it's unbelievable because VR was such a new thing so many companies make money the first wave of companies that make money were those people who provided the arcade experience so they created a lot of, they call it the egg-like experience where you put in all the arcades, all the takashimaya and all the iron they can think of and you have consumers paying close to about 30 RMB to 40 RMB for a 20 minutes experience and it was almost roller coasters right, it was terrible the HTC guys scream and yell at it they say you're destroying the VR market but guess what 2 to 300 million RMB turnover last year so this year my estimate is going to be at least 20 times of that revenue because everyone is now on the screen HTC has sold a lot of machines Oculus is not in China so there will be the Chinese Oculus and there will be a lot of this guy so you can see there you have the Chinese Oculus and I don't mean it in a bad way I mean, you know what I'm saying so the HMDs are coming in you have the user input, Noitem right now is a 2.4 billion company I saw them when they were 10 people and G wearables I was at their launch they are also trying to complete in the sensing so I think if you have just another tip, if you are sitting in some university and you're doing some research you have some technology I would encourage you to think about how you can take what you are researching that technology and see you can have ways by which you integrate into say for example a virtual reality or augmented reality space so if you look at some of these companies they've all been around some time I mean most of them have been doing some things in the focus in a particular way and they took it, they package it and they say it's a VR company so in this era there is more there is more potential and there is more imagination space for investors too so this is something for you to think about reality capture so this is where you have the gear 360 from Samsung we just ran a training in Shanghai on jaunt and Nokia so there was about 100 people who came we trained them on jaunt and on Nokia so we are working very closely in jaunt so we are helping them learn from China as well so some software some of these guys they claim to do some Android enhancements and that was before daydream announcement so I'm curious to see how they were involved themselves after daydream of course games, video, real estate I mentioned this and some of the other applications and of course online and some of the platforms so these are some of the companies that are out there Chinese players trying to take on HoloLens I have not seen that I have not seen that but I have seen HoloLens lists of components so somebody in the south has really stripped everything about and seen components but I have not seen someone creating a list of HoloLens any other question so anyway just a reference for you if you are thinking of engaging with Chinese if you want your content coming out the first place I would say get it on a gear get it on steam get it on PS and at the same time look at a few Chinese players to get it in the Chinese market to test the content as well so this one you can read I mean there are lots of articles online so for example, what's the potential this is really interesting so this came out I think in if I'm not wrong I think January, February and I personally look at these numbers this is very conservative like I say they think that the core users is like a million and then those who have experienced it are not really in it, it's about 0.7 and about 280 million potential so for me this numbers is probably I think my numbers is higher than this but of course I wouldn't quote my numbers but this numbers is quite valid so who are the guys the first guys who were diving deep into VR it's 71% male and that's probably the configuration in this room right now too 63% age between so this there's a number and it's 25 to 34 it's not 13 and then 53% of them they call it indoor based guys so guys who play games and don't interact I fear for my son but yeah closer so and what do they like and also viewing, test drive, home deco so this is a survey out of I think a sample base of 150 people that they took on the streets to just sample the guys and just ask questions and then what is important for them the experience itself the comfort and the reality factor so anyway again more numbers for you to just think about as you do your scope of your building now when I think about VR why do I get involved in investments because I think number one content is great so but if you think about what the technology can bring imagine today in the real world for me to take a person in the real world and bring this person into a virtual world and makes it so real that he doesn't realize that he's in a virtual world think about how much technology there is involved HMD it's only the first step HMD only touches the eyes, makes sense it only helps you visualize but it doesn't help you with the other factors for a human to get into the virtual world there's at least about 38 components in the virtual bodies so there is a neuro there is a sense, there's a hearing there's a smell there's the haptics there's motion and if you look at most of the contents today they don't have legs so what does it tell you it tells you that there's a lot more room for this industry to evolve today we are at 1.0 some call it 0.5 but we are at the beginning of a journey and that's what makes it interesting because when you're at the beginning of a long enough journey there's room for you sometimes if you're 65 then maybe it's time to retire but it's a long enough journey and it's enough room for you to grow yourself into and so for me when I look at companies or entrepreneurs, what do I look for I look for games and in games I have this map where every single gender, I think there will be some gender that will take off more than the others just that avatar is a gender it's a sci-fi in a 3D space was a gender that totally was simple enough and it uses the touch it's so simple and it just touch so likewise there will be some games that will take off in the VR space there will be a B2B space we spoke about this just now in each particular vertical and in Cortec I look for things that for example what sort of things do you do do you have the research background do you have your friends who is a research background that has the technology into the three elements of human being into the virtual world so I look at video right so we have done some video filming before, we have done we have done one with CG, we took the vanguard art, we put it into a virtual world we partner with Huan Wei, it's a Chinese company on them and we have done we ran a video competition we have now 1250 submissions from China so there's at least 300 teams in China that are doing video filming, 360 video filming so likewise it's interesting so when you do film you show me something really interesting how do you take video in video how do you integrate with CG how do you integrate with the real world so those are all technologies that you can integrate and there's a lot of room for improvement there and of course if you have a compression technology then you could be a very big thing because right now the file size is way too big way too big for any any decoders in browser so choose space there now notice that this is mentioned platform platform will come but so far I see no indication that it will come yet right so remember there's a step by step in the whole industry evolution, you've got to have a first iPhone then you have to have angry birds and then you can have your supercell connected to play online games and then you can have the next Uber so it takes time and the basis for a platform is there must be enough users so a lot of entrepreneurs come to me and say hey I want to be a platform I want to think of steam Gaby didn't become steam straight away they first did one game half life is it right? so look, he first had half life and half life was so successful and then all his friends came to him and said can you down he had cdn all around the world and then all his friends came to him and said can I use a cdn and then it became steam so a platform requires you to have user base before you become a platform because the investors love to hear stories how can you become a platform that's one thing but the question then is why is it there's only one Facebook it's not that easy to become a platform company so platform requires a user base when there's so few headsets out there for you to be a platform then you have to be in there for the long haul you have to be prepared for the loneliness cycle in between so think about what you want to do either you shoot for the Hail Mary or you go for step by step and try to get there as you evolve the business model so something for you to think about so okay way over short but maybe a quick one so my vision is to make virtual reality a reality I spoke our community we have a ceriton in Shanghai too it's about 2,000 square meter so it's a space where we bring people together just like what you have here and so this is our team so Fiona used to run ads she launched the first iPod 1 in China and Kevin, some of you have you played Eve Gunjab Eve Gunjab is the top selling game on Gear VR right now still number one, I just saw it two days ago so he joined our team from CCP and now the team is we are coaching and guiding teams that we invested in to develop Jackie was the first guy who wrote a 365 book in China so I wrote him in as well so you can see we come with a disparate background to help coach teams as we invest in them so this is something for you to if you if you love to be in China we would love to welcome you in October 13th and 14th I have a vision I said that Asia would potentially be the launchpad of new technology for the next wave and so I look at GDC as a conference GDC is very much for games developers and I hope that in some way or form we bring together creators because we call them creators because it's not just developers anymore it is video filming guys it is B2B guys, it's new type guys so we hope to bring together the world creators together in Shanghai I'm partnering with SMG SMG is the big company that owns it's like the MediaCorp in Shanghai MediaCorp has straight time in China and they own the Orinter Per Tower in Shanghai so we are bringing together a conference in fact some of the attendees some of the speakers we have are quite cool hopefully they can join us from the CEO of CCP Tim Sweeney he said yes at least we already checked with Secretary again but Tim Sweeney from I think we're out of battery so it's okay if you can hear me at the back so Tim says he's coming from APEC and then David should be coming David Hargeson, founder from Unity so we also have a couple of actors and Hollywood producers that's coming as well they can share it's a 32 sessions and just keep that date in mind if you want to visit China in the autumn and then our fund strategy I spoke about how we invest contents called we focus on the global reach and global presence so we talk about value adding how we can value add as a potential investors and of course we help our companies exit as well that's how we make money we sign deals with we are also partners with Google and Hive and Intel in China and so hopefully we can take some of these partnerships to Singapore too so with that, that's all I have if you're looking for funding invest at UCC VR if you just say hi hello at UCC VR if you have a WeChat by any chance UCC VR AR is the code and so just keep that in mind and that's my email at uccvr.com thank you very much so anyone got any question do ask or you just speak out I think you guys can we'll pass it back to you what's the Chinese term for AR and VR Chinese name for VR it's called Shui Nui Tien Zi Shui Nui is virtual virtual reality so there's VR and AR is called Zeng Qiang Xian Zi so augmented reality Zeng Qiang means enhanced so so you guys need to have a mention you have to have another one called MR so what's the MR stands for it's a very interesting thing because I'm presenting that the analyst comes up with these new terms or the journalist comes up with these new terms so MR stands for mixed reality for example if you use a Samsung gear today you can shut down everything and you can be in a virtual world that's virtual reality and you can turn on the camera all phones have a camera at the back so you can turn it on and you can see what's outside so with augmented reality you can interlace your real environment with virtual things in between so they think you can design an experience where you have virtual you can shut off the world and open the world as you need it so that's why they call it mixed reality Samsung and Google always have a love affair relationship I'm not sure anyone here from Samsung you know when Samsung last year last year two years ago they started supporting another platform what is that platform called again Titan so because Samsung is such a big component of Android so if Samsung tried to support their own OS too so I don't know how it will work out I think Samsung has done a lot of hard work in terms of getting the whole footprint and the technology there's a team of about 250 people sitting in Samsung right now working on this problem and Google has a much smaller footprint so what is interesting for me is Google is taking a lot of understand and creating standards and because of the rest of the manufacturers that is not as committed to the cost as Samsung is they can leverage off a lot of what Google does and translate it but of course having said that if you look at all the cell phone manufacturers in the world 5 out of 7 of the largest are all in China 5 out of 6 are all in China so at Google Google Play is not in China because they choose not to be in China and so I don't quite know what is going to be the negotiations and results because I'm sure Google would want to be in China again so they now have a Google Play team that's trying to help developers get out of China and go to international behind their back of mind they have always asked themselves why can I have Google Play in China back again so it would be interesting how the whole commercial negotiation of itself but technology wise really is not that hard like I said that the device itself is not that hard if you look at Gear the biggest part is the gyroscope one of the things is the gyroscope the gyroscope itself there is a high tech gyroscope in the next batch the high end phones I'm not talking about the low end ones the high end ones they are putting in the next version of gyroscope so a cell phone is going to have quite a good decent gyroscope in there so that's one thing so having a gyroscope support is great number 2 is input output Gear truck with this input output so for some of you Gear VR is a tapping thing here it's not a fantastic experience so that one button switch from daydream another trial for that so I'm not so sure how it's going to work out so we'll see the gyroscope the gyroscope I believe that's only a check I can't have it on this sorry I appreciate your generosity you're putting a check on the missing link right now to be on the other you mentioned about the tech do you see that it's both coming the destructive element from the MR or will it be outside the MR element do you think that it's going to be very much already in your scope or in your vision or it is true not there yet I think so for first thing I think that so a few things just to it's a big question but I'll just give you a few points I think that for gamers I think PS that's going to educate a big part of the market there's about 40 millions in store based right now on PlayStation out of the 40 million I know for a fact the Soviet team is planning for about 1.5 million shipments this year but because they are shipping in October so they only have 3 months window next year the numbers should be in a range of 45 millions and so the following year for the US dollars I think it's a low enough price for consumers who already have a PlayStation to buy so then I think we'll educate a big part of the market the second part we're educating the consumers market would be the cell phone manufacturers I can mention today I can buy a cell phone high end cell phone and I can for 25 US dollars or 20 US dollars more of course the cell phone manufacturers can get the device the plastic cardboard to the hands of consumers I think that would be a big jump in terms of the number of people getting access to that experience so I think the first thing to do is that as many of the consumers have to have access to the hardware to make a difference so that's point number one point number two I think in the industry is going to make a difference because like I said the visualization impact of a new technology is a traditional industry reinvent itself I think that would make a difference too so business and consumers that's how I see the thing going on as for household that's an English guess Okay, further to Jack then what you see in the element the momentum at Alibaba and Tencent have got to be in the making that you think that we can look forward to their kind of initiatives that you think what's coming you know that's the best part Tencent and Alibaba is not investing in VR in a big way simple reason I mean I know the Tencent leadership team pretty well and so for example Colin who runs the biggest game studio in Tencent we are talking about this think of his pressure he has to deliver what nine billion RMB revenue a year that's his job he's the president of the studio he needs to deliver nine billion RMB revenue a year to shareholders he's not going to have time they are playing with VR stuff so he has a team of 10 people 15 people he has all the hardware you think about they are trying stuff but they are not putting things in a big way because the numbers, the revenue impact for these big companies is just too small for an impact which is great because if they are all all of us would be working for them so because they are not in a big way so he leaves rooms for entrepreneurs and people with ideas and the courage to try stuff and do stuff before those guys come in and hopefully acquire us let's leave it on mine what about yours then what about sorry? my strategy is to like I said it's simple gather as many people with talent and passion as possible give them enough funding so that they will be hopefully and help them in all the way so that they are successful and if one of you becomes Supercell I'm going to retire as soon as possible you mentioned about the third fire world water Chinese passport just now what you mentioned so realistically speaking other than getting a Chinese partner that's one there's no way that we can try to penetrate into like Chinese market great question in a mobile space in a mobile gaming space a lot of companies came to me and asked the same question and honestly other than Supercell I have not seen any other company that has been successful in China in a content site in a mobile gaming site because if you look at what is needed and this is from somebody who has been there 11 years even now I don't quite know how a Chinese thing or as Chinese in the third tier city or fourth tier city things it's very different I'll give you one simple example which is it has been a story that I've been telling for a long time the hit up I do in the past told me this story I was with him we were having a drink and he was texting and we were chatting this particular gamer they coined the whale because it's a big paying gamer and this particular gamer this whale he wanted his character in his game to have fully cloded with gold he wants the character to not wear any colour he wants everything to be gold the spear, the costume, the headset everything gold and so this my friend I've been telling his guys, his artist and he has a team of two people that did two days do nothing but customised his entire character to gold so that's what he did and guess how much this guy paid to do that it's a two days artwork right for most of us he paid 20 million rmb for that what? okay so that's my point you and I would never understand that market why? first of all, I don't have 10 minute second of all, even after a half I wouldn't pay for so that's my point you and I would never know there's close there's probably like two to three thousand miles in China it sounds funny, but the biggest gaming company in China, Tencent and all that they're working off of a small group of people when you do game design And this is years of working with these guys. When we do game design in the West, we try to be as fair as possible. Because if you're not fair, no one will play your game. True? But that's not true in China.  So you only want the will to play and get everyone else to accompany their will to play. That in itself is a totally different design factor. So everything that you design and everything you plan for, it's going to be so different. It cannot be the same. Because your job is to service 5 people, 10 people. And you have 101 million people or 20 million people to help 5 million, to help 20 people. It's a very different concept. So I, for one, especially if you are doing games, I would say, you know, it's very different. You have to stay there for some long enough time. You need to have a producer. You need to have a monetization partner that's strong enough that can coach you through that process. You can have a fun, great game. You can make money from ads. There's few ads that you can make money from. But in terms of pure monetization from Apple and DAU, it's very, very hard. It's a culture thing. So anyway, but having said that, Supercell has proven that wrong, too. So that's why I say, other than Supercell, I've not seen a strong enough theme that can monetize at that level. And at the same time, have a good enough tag that transients firewall. So that's why I say Supercell is a remarkable country. Okay, hopefully that gives you a sense. Yeah? How do you foresee VR transportation changing the way the industry runs? Like industry 4.0, the smart factories all have power space rule. There's a lot of it today, and in the near future, there's some focus on the game inside. So how do you see VR changing the self-industry manufacturing industry? So for one thing, I was talking to some guys with ad logistics the other day. Now, it's really interesting. First thing first, if you look at, Singapore is trying to reinvent itself to be an aviation hub, right? I think for Asia, for the world.  It's going to be tens of millions of dollars. It's huge. It's not a cheap machine. I know this because I work with the engineering universities in China for quite a few of them. And they paid a lot of money for a flight simulator, MRT training, they call it Subway, control system training, training systems. And they paid a lot of money for it. Like I said, if you can create a solution, one-tenth the price, one-tenth the time, you will change the industry. So if there's a hint, I think along that way, if you can take the visualization context of what VR can bring, if you can take the connected context of what internet can bring, there's a big change, potential change to that industry itself. That's my thinking, I could be wrong. It's very difficult to convince the people. They're still thinking that they need a good machine to make money with a good machine. But the thing that we have to do is to make sure that we can address the larger audience and all of that. It's just not happening. I pretty understand. Because industry simulation has been around for many, many years. Many, many years. That's all, for example, and all that has been around for a long, long time. So I agree. I totally agree. So again, for every Angry Birds, there's tens of thousands of Angry Birds that didn't make it happen. So the question is, what is that? From a product development point of view, keep tuning it, keep finding it, and then you leverage internet as a big thing, as a connected thing, and then leverage the visualization. If you use the HTC versus the existing machines, that in itself, the cost is a big factor. But the problem with most of the vertical industries is, I don't know if it's Singapore, but at least in China, relationships are more important than everything else. So it's who you know, and the people you know, versus what in the technology itself. So I totally understand. But from a technology's point of view, we can only persevere. If we, like I said, if we continuously be lower cost, faster time, and we keep pounding on it, and have a better experience, a better connected experience, hopefully we'll make some great way. So that's my, at least based on my view in the last 20 years, that's how we're pushing x86 machines. I remember when we were pushing x86 servers into financial institutions, it was always a no-no. Oh, mainframe is the best, and Unix is the best. What, Intel? That's, but look at today. So I just persevere. Sorry, I got a quick question. So I guess, I guess planning to come to Singapore to start something or something like that for UCCBR. And then another question is, if anyone of us planning to start a virtuality company, maybe in China, what's the plan? That's a quick question, by the way. I'd love to be here more often. So we haven't had any plans, to be honest. Honestly, this is already a summer holidays. Like I said, this was, I was coming for summer holidays, and Chiang Kuo said, let's do an event together, let's do a meetup, and that's how it happened. So there's really no formal plans, but again, like I said, I built the same, I built on a common philosophy and a belief that, you know, talent comes from everywhere. So like I said, you know, we invest in, I've invested in two US companies now, one, you know, one Singapore company. So I would love to be investing in talent worldwide, so that it doesn't stop us from where we are. In terms of community, I'd love to do more joint activities together. And then if we can have some facilitation of talents where you guys can go to China and see what's happening there for some time and read the exchange program, sort of thing, I would love to explore ideas like that. So investments-wise, no problem to send me your plans. If we have a great chemistry, I'd love to help in any way. And then number two, feel free to join our community. Unfortunately, my team, it's all Chinese right now. We don't even have a Facebook page. So that's the first thing we need to do, is get a Facebook page up. So I'd love to explore. So this is one thing, the first question. The second of all is to if you want to sell a Chinese company, it really depends on what you want to do. So for me, setting a company is just the end result of an idea. Getting set a company or bringing together a group of people is just the end result of an idea. So I think let's start off with a great idea and let's see what's the unique value proposition. Because always keep in mind, this is again as an investor when I look at teams, it's always a great idea. Then the number two question is always the toughest to answer. Why you? Right? Why? Why is this team going to make a difference? So that's the hardest thing to answer. So if you have a great idea, if you have a good understanding of why you are different and really focuses on why you are different, then I'd love to engage you in any way. So people in our community will quite well support our team. Both Unity and Unreal is actually going VR in a huge way. So when I was speaking with Tim when he was in Shanghai recently, he was telling me he has a big team focusing on VR, now there's a VR editor in Unreal. And then for Unity, I think 5.2.1 in recent update, there's at least I think 30 enhancements in the VR scenarios. So both companies are focusing on VR in a huge way. There's another company to look out for it's called MaxPlay. MaxPlay is set up by actually is an incubated project from Technicolor, the French, the firm company. So Technicolor incubated this company. The CEO now is called Syngin. Syngin and his team are all super experienced. The CTO is from BioWare, X BioWare. And so that team has done quite a phenomenal job in terms of rendering in a VR world. So keep a look out for that. It's called MaxPlay. You can just check out MaxPlay.io website. So check it out. So these companies are going to provide a huge VR spot in terms of VR spot for the developers. Hi. Once again, we'd like to thank Alan for taking his time off. It's time for me to come down to talk to us. We're going to take a...


Hello everyone for today I am going to be breaking out the whiteboard and that's because we're going to be doing some calculations today. Don't worry it's nothing too daunting but I wanted to talk about something called probabilities and how these apply to your job and how you should be applying these to your jobs when you're working. Probability is I know it sounds like something out of statistics class or whatever but it's actually quite useful here and so let me get into this. First of all preliminarily probability is something you can apply for say a job. If there's a job that pays $100 and there's a chance you could get that job you figure out there's you know 60% chance you can get that job. Is that job worth $100? Well technically no it's worth $60 because there's 60% chance you'll get $100 and so it's worth $60. So I hope this makes sense because the reason it's worth $60 to you is that there's a 40% chance you don't get it so you could go through the effort of trying to get it and there's a 40% chance that you get zero. There's a 60% chance that you get $100 and in your calculations it's obviously you're not going to get $60 you're only going to get $100 or zero but in your calculations it should be worth $60 because this helps you decide what to spend your time on. This bet, this applying for this job for you is worth $60 and this can help you when you're dealing with other jobs you might be applying for that might be worth more or less if you can do the same calculation. I think it will help if I give you another maybe more realistic calculation that you can apply. So let's take this example you have job A pays you $1,000 job B would pay you $800 so which one which one of these jobs you should take it's very simple job A pays you more. Now the problem with this is say if someone else is applying for job A along with you and as far as you know as far as you can tell that person is just as qualified as you so if this means there's 50% chance you'll get this job but this job you're pretty much guaranteed to get it so what do you do you're thinking this kind of hard to calculate it you might think well how much risk am I willing to take I'd love to get a thousand let's just shoot for that or let's go with a safe one it's $800 and maybe we should do that but there is a more scientific a more mathematical way and a more precise way to go about this right because if this job pays $1,000 but there's 50% chance that you lose it and 50% chance that you'll get it then that means that this job is now worth $500 to you while this job is worth $800 this means that actually you should be taking job B and not job A now if you can have an advantage over this person here for whatever reason you find out who this other person is you're able to get more of an advantage then you can start tweaking these numbers because as soon as it reaches over 80% you'll realize that this is worth more than 800 and you should be applying for this job rather than this job and this calculation can come in handy when you're trying to figure out what to spend your time on so along those lines you can't even bring time into this so let's take this one step further and see what happens so we take this one step further and we'll give more or less a similar example job A pays $1,000 right job B pays $500 but you know you're competing with someone else so if you don't have much more information you'll give it a 50-50 chance so $1,000 this means that you get this job is worth $500 to you this job you're pretty much guaranteed it so you give it 100% and so this is also worth $500 great you went through all that calculation and you still came out that both are worth $500 so which one do you go for they're more or less the same well what you can do now is you can look at what type of jobs they are and how long they'll take more specifically so if job A makes a thousand bucks only 50% chance it works out but you know that it takes say 15 hours to finish up job A I'll try to write while I'm showing to you 15 hours this comes out to if my calculations are correct about $33.3 per hour that you'll be getting for this job here but this job here job B you'll know that it takes about 12 hours to finish obviously this is simplified because they're the same so it's an easy calculation and you can see that you make more per hour according to my calculation it should be about 41.6 if I can write it correctly dollars per hour I should add that to be precise per hour and so this means that you should be going for job B so you can feel free to make to do this calculation to perform it for any type of job you're applying for many times you can see how many other people are applying for jobs that you're applying for and many times you can see what type of people they are and who the candidates are so if you know that there are 10 other people applying for the job and you'll know more or less how much you get for that job that helps you make out the calculation comparing it to something else but this is a good calculation I found to decide which jobs to take which jobs to concentrate on more or which jobs to go for first because here you can decide okay this means I'm going to go for job B first and then with my spare time if I have any left I'll go for job A and see if I also can get job A but job B is the important one because this is the one where I get paid more so anyway this is a way that probability and percentages can help you out when you're trying to decide which job to apply for and what to go for so you don't have to just go for gut instinct and say well there's a hundred percent chance of that but I could get more for that so let's just go for it this at least makes you feel more sure of yourself now obviously it can happen that you decide to go for job A instead and that you get it and you end up getting paid more than you would for job B because there's still a 50% chance that you'll get it so remember you're dealing with probabilities nothing is a certainty but if you apply for job A a hundred times you know then you'll only get it 50% of the time and so anyway that's how probabilities work I don't want to get into it too much into the theory because it's not really useful here what is useful is this calculation to calculate the percentage likelihood you'll get each job and then to divide it by the number of hours it would take to work the job that'll give you a nice easy number to be able to compare job to different jobs another thing you can do by the way once you have all these numbers is to increase your likelihood say you actually you're like I really would like to work on job A how could I increase my likelihood of being able to do this there's several things you can do first of all the percentage you can try to find out who else is applying or else you can try to make yourself more preferable right if you can make yourself more attractive to this job you know that this job has is a translation that deals with machinery and you educate yourself for machinery or you can tell the client look I've worked with different types of machinery before I know all the naming I know all the terms in both languages so I would be a good candidate for this maybe that could increase it to 60% or something along those lines try to see if you can do something along those lines likewise here maybe there's a way you can do it in fewer hours you can say oh actually I could take it from here and simplify the process and finish it in only 10 hours in which case this will be worth it because 10 hours will mean that it pays $50 an hour so then it's worth it to go for this one so once you perform this calculation no matter if you're a risk taker or you're not you can find various ways to increase the percentage likelihood you'll get one job over the other if you'd rather go for one job over the other and so that's why I find this very useful to use when you're trying to compare jobs and things to go for so anyway I hope you're able to apply something like this in your work if you are feel free to let me know I'd love to hear about it or if you have other calculations that you like to use instead of this one I'd love to hear about that as well otherwise if you find this useful please don't forget to click like because then I know which videos are useful and and I know what to concentrate more on in the future and don't forget to subscribe if you want more videos that help out with freelancing with entrepreneur realism what would the entrepreneurship sorry and with with working online and working for yourself and things along those lines otherwise that's it and I'll see you in the next video thanks bye and sabedun


What's up everybody Jason for Jasper's case breaks.com. We just sold out a brand new release guys 2022 Pinini national treasures collegiate football This is a four box case break pick a team's number one Now of course we're gonna go by group break checklist, but they don't have the checklist out So if it's not out as it says here, we're currently gonna go by teams active on the current team and teams they played for the longest if they're retired or not active in the NFL so Here's everybody that bought in Thank you guys Then we had a little 14 team R&B it looks like The checklist is out Phil, but if you go to group break checklist I just literally looked it up like 30 minutes ago. It doesn't have it by NFL team The checklist is out though. Don't get me wrong if you go to like Harbor connection and all that But I just clicked on it like 30 minutes ago, and I didn't see it It goes straight to this so when it goes straight to eBay that means he hasn't uploaded it yet Yeah, that's not what we mean. It's cuz group break checklist Creates an NFL checklist for us when it's collegiate products, but when that that doesn't happen Then we got to go by college rules But if you do go to Harbor Connection the checklist is there. It's just not by NFL team. It's just by collegiate team So that means that if we pull a Trevor Lawrence, of course, he is currently active. He's on the Jaguars That's gonna go to the Jaguars, but for someone like Michael Vic per se, right? If group break checklist didn't create the checklist yet Then we'd have to go by college rules with me teams He played for the longest and I believe Atlanta Falcons would go would be the team he would go to if I'm correct So kind of just have to go by years and then games as tiebreaker for those veteran players I should say But this is a college break, but it's an NFL team break though Now of course, this is the teams here for the first R&B that we did and then here's the teams for the second R&B that we did Of course, I showed that everybody there. All right, so first one is a little Jalen Hertz, Oklahoma edition So that'll be going to the Philadelphia Eagles, which is mark to 99 And then our first one is John Metchie the third that's 31 out of 49 I believe he's a Houston Texan currently of course not not playing right now, but was drafted by them Hopefully be backs back soon So Houston Texans that would be Aaron I've got a booklet she'll Khalil Shakur that's 16 out of 49 nice little Boise State Broncos booklet and Again team on right now is the Buffalo Bills So I'd be one of the Buffalo Bills was is Jeffery straight up I don't know if I have a slider box here. I think I do actually our first one is Jalen Tolbert That's 22 out of 49 and I believe that is a Dallas Cowboy rookie and let's quickly Double-check on that one Jalen Tolbert And yes Dallas Cowboys So Dallas Cowboys that is gonna go To the random number block, which is part of the first though actually with Pittsburgh. Sorry 22 spot to a Steven flat. There you go Next we got is a Justin Jefferson relic That is 13 out of 25. Of course, that's Minnesota Vikings win a Niko Straight up and we got a triple relic Sam Howe Michael Carter and Javante Williams. So Javante Williams will be Denver Michael Carter should be New York Jets and then Sam Howe's Washington Commanders so commanders is Patrick Jets is Wayne Denver is part of the random number block. So depending on who that goes to we'll distribute that out there And then we have a true RP of Matt Correll Nice one there unfortunately he is out for this season. I believe got injured in preseason and Want to say I believe Carolina Panthers dropped at him double-check here and Yes, Carolina Panthers. So Carolina Panthers is part of the random number block and Carolina Panthers R&B That is seven When a Phillip so they go Phillip that's yours right there And the last one here is notable nicknames. How about George Pickens? It's eight of 25 One issue This is his nickname now, of course, that is a Pittsburgh stealer That's part of the random number block eight. How about that Chris? You're like dang six and eight crossing my fingers. Well, there you go eight out of 25 is yours Tell you with R&Bs. You never know There you go guys first one in the books Yeah, what is this one what is this one issue someone's gonna have to Someone's gonna have to interview him and ask him that I've got Trevor Lawrence the 99 base notable nicknames Diesel, but he didn't even inscribe it diesel. Well, that's KV on Dibbadoe though. That is for the Giants going to James that is 34 out of 49 Come on Dibbadoe It's notable nicknames man. All right, we got a sky more two out of 49 team slogan signatures for Western Michigan Sky more See where he's at Sky more is a Kansas City chief so chiefs is part of the random number block and that is two Chiefs R&B Brian Wofford Let's ride the bear. I do act like that one Like a bear and how about more sky more? This time a little RPA here and this time 58 out of 99 So that was actually going to spot eight. Is that back to back eight? I don't know.  You got another one. I mean you got a Chris Olava and Garrett Wilson Which of course I think that'll be between the Jets and the Saints So that'll be a randomizer at the end If it goes to the Saints, that's part of an R&B that'll go to spot five If it's to the Jets that goes straight up to Wayne And we got a Sam Howell. That's for the Washington commanders. That's 74 out of 75 Patrick K with that one and then we got a Traylon Burks. That's 22 out of 99 I believe he is a Tennessee Titan, correct I think he was a first round pick too Yes Tennessee Titans, that's part of the random number block Another two though, two they're dominating though That's Brian The last one here is a book And it's Drake London 27 out of 49 That's one there for the Trojans Drake London, that's Atlanta Falcons going to Brian S Could be a pattern fill. All right, we got Barry Sanders That's true actually If I mean if you're watching on a phone fill you probably might not be able to see it But if you're watching on a big desktop like like I have it here That is true. We do have that top camera right here. Hello So if it's pointing directly right here, you can see Maybe the USC logo before I pulled it out But that's probably what it is Barry Sanders, of course, that's going to go to Detroit Uh deported with that one Then we got a Kyle Hamilton for Notre Dame piece of the jersey I believe uh dressed by the Ravens, right? Yes Ravens That's part of the R&B That is a zero Baltimore Uh, this is Steve Eric. All right, we got a nice three color patch. That's Darius Slayton 11 out of 39 Slayton's still on the Giants, right? That's Auburn. Yes, New York football Giants Giants going to James A five of five. How about a little Ronald Jones? And Ronald Jones actually I know he was A book in ear for a long time, but I want to say he's actually is he still there? No, he's a Kansas City chief now Yeah, a Kansas City chief So that's going to go to the chiefs now and that's part of the R&B five Kansas City five That's Nico Then we got a Jelani Woods for Virginia I personally do not know who this guy goes to Uh colt actually Indianapolis colt colt's tight end. So that's uh colt's going to straight up to james Uh says currently on the uh tight end for the colt Am I am I'm not looking at the right one? Yeah, that's colt Ah, we got Zemir White to 75 Very very nice right there And then uh Zemir White That is going to go to uh Las Vegas Raiders Raiders Wow, are you watching french? I don't know if you're watching man, but I don't know who this is but I see the Lola you're gonna love Raiders is Jeffrey. All right, here we go. Who is this? Wow One of one. That's a Derek Stingley Jr SEC patch and autograph for the LSU Tigers. Of course, I believe was was the second overall pick And that should be going to houston, right? Yep Houston that's going to erin straight up. Now that is a nice hit right there And then how about a Malik Willis three color patch and autograph? I don't know. I feel like he should be coming coming soon Uh Later this season for the titans But I guess I guess they're back to winning though And that's 15 of 15 spot five Going to Nico That was a great box actually All right Down to the last box guys. Good luck So I'm pretty much going to be done right after this. I got about like 70 orders, but we'll just leave those for Joe and it looks like Archives is down to seven two left nine left ten left And it looks like nick put up another round of number block for the remaining teams Looks like much cheaper too now 44.99 and 51.99 And this is a thick box thick box Is that two booklets? I think I have two booklets I think we have two booklets here Jonathan Taylor to 75 It's of course going to the Colts They have a Bailey Zappy RPA 15 out of 99 that's for the New England Patriots part of the random number block Patriots Uh five is Nico We got Hasan Haskins team logos 11 out of 25 Hasan Haskins is a Titan And that is 11 spot one James Nice two color patch and autograph Isaiah Spiller 16 out of 25 and I believe he's a charger Yes, Los Angeles Chargers went to Eric Oh, sorry about that guys Uh, we got a Brian Robinson jr. Not about his walkout song Uh this past weekend That was a crazy crazy entrance. I'm glad to see him back. Of course. That's a Washington commander Washington And then we got a George Pickens right there that is 28 out of 75 another one for eight Looks like Chris. You just got all the pickings It's spot eight. Well, it's Pittsburgh So you got an autograph in his jersey now Patch auto All right, we have added 10 breeze hall Nice patch. Look at that. It's like a cheez-its patch. That is pretty cool actually Little corner of the cheezer right there And I believe breeze is uh New york jet, right And new york jets that's going to wane And the last one here is another one out of 10. That's jahan dotson With a little nike swoosh team logo laundry tag And autograph their nitly lines And jahan dotson, of course rookie there for the commander's going to patrick pretty nice actually Nice case Yeah, I mean, I don't have them on fantasy. So I don't really care The porter he was probably already picked up in my league anyways I'm in like a 14 team league. So I'm pretty sure a lot of running backs have already gone All right, there you go guys But I do play fantasy. I just I just playing such a deep leak All right, there you go guys So nice couple booklets there a couple nice rpa's including a one-on-one Some good hits though for the rmb team though actually George Pickens I corral jailen tolbert So we do have a couple randomizers. We have one right here. That'll be uh saints and jets and then we have Uh commanders jets Denver broncos All right, here we go use the same dash over both Five and a three eight times. Good luck One two three four five six seven eight Five three eight saints at the top. So they go crystal lobby wins that randomizer and then Saints winning that means the rmb gets that which will be going to spot five Nola spot five is nico And then eight times over here. Good luck one two three four five six seven eight Eight times jets at the top It's going to wane straight up. I appreciate it folks. That was break number one. Number two is back to rmb if you guys want to run it back Jaspy's case brace.com guys. Thanks