MOX Happy Hour – “Focus” by Patrick Lee
“Focus” by Patrick Lee. “In terms of features, there’s initially one single main reason why everyone is using that product. For Google that was search. For Rotten Tomatoes that was our score. You can get rid of all other features: cast and crew, photos, etc. and still have that score, still 95% works. If you rid Twitter of everything but the tweets, still 95% works.
When you think about features, figure out what is that 95%, or the single most important reason why people want that product, and then make it really good,” Patrick Lee, Rotten Tomatoes co-founder and MOX mentor. He shared with our community during the last SOSV Growth Week.
Join Patrick and our global startup community on Friday, Feb 5 for an evening of inspiration and networking at the first MOX Happy Hour of 2021.
About Patrick Lee
Patrick Lee is a co-founder and the former CEO of Rotten Tomatoes (rottentomatoes.com), a leading entertainment website focused on movie reviews and news. It’s one of the top 700 most trafficked sites in the world. A serial entrepreneur, he founded six startups across three countries (US, China, Hong Kong), with four in the intersection of technology & entertainment. For the last decade, Patrick has been mentoring tech founders and been involved in various arts & humanitarian projects.
IMPORTANT PRECAUTION NOTICE
MOX—Mobile Only Accelerator—based in Taipei, enables startups to reach the next 4 billion mobile-only users in markets including Southeast Asia, India, Eastern Europe, and South America. MOX is operated by SOSV—a venture fund investing through startup accelerators around the world focused on cross-border Internet, Hardware, Biotech, Blockchain, Foodtech/Agritech. Through intensive support for growth, fundraising and partnership, MOX offers mobile startups from around the world free user acquisition via its smartphone platform and direct cash investment in return for revenue share and equity. MOX also helps monetize these users, and drive higher lifetime value.
MOX has backed English pronunciation coach ELSA, the first investment in Asia by Google’s AI venture arm Gradient Ventures. Also, fintech company Achiko, listed on the Swiss SIX Exchange and UNL, an “Internet of Places” micro-location platform backed by HERE Technologies.
SOSV — The Accelerator VC — is a top-performing US-based venture capital firm with US$740 million under management as of 2020. Recognized as the world’s most active overall VC globally according to Pitchbook Q2 2020, SOSV backs more than 150 startups annually through its global accelerators. SOSV operates HAX (Shenzhen/Tokyo/San Francisco), the world’s first and most prolific hardware accelerator; Chinaccelerator (Shanghai), Asia’s first and only active accelerator with a unicorn graduating from its program (BitMEX Batch 8); MOX (Taipei), the accelerator for mobile-first, mobile-only markets; IndieBio, the world’s largest seed accelerator for life sciences and biotech; dlab (NYC), a startup accelerator and venture studio for blockchain; and Food-X (NYC) for foodtech and agritech, the #1 food innovation accelerator in the world.