Use Your Difference to Make An Impact | Pocket Sun | TEDxShanghaiWomen
[Music] Today is a happy day for all of us gathering here at TEDx Shanghai Women. But wait a minute, what if today was the last day of your life? Would you be fulfilled with how you have invested your time? Would you have any regrets? Time is the currency we begin each day with. It is our most valuable but most limited asset. Can I tell you something scary? Your life is about 900 months. That's it. And as young as you think I am, I've already spent 303 of mine. We are all chasing time. But unfortunately, as of now, we can only invest time but not make time. So what is the best time investment? Today I am standing here to convince you that your time is best spent on using your difference and make an impact. So who am I? When you look at me, what do you see? I'm a 25-year-old Chinese girl who grew up in Shandong province. I was born and raised in a city called Donging which is only eight years older than me. I am a venture capital investor and I am obsessed with evaluating opportunities. Every day, entrepreneurs come to me and pitch their ideas, and my job is to pick the best ones that can make me a ton of money in the next 10 years. I invest in the change I wish to see in the world. More specifically, I invest in the next generation of entrepreneurs who are building global businesses to solve the world's toughest issues. what we buy as consumers, what happens when we grow old, and how technology saves us time so that we can focus on the important things in life. Sounds like an amazing job, right? However, there are not many women in venture capital. In fact, only 7% of partners at top 100 venture capital firms are women. 77% of venture capital firms never hired a woman to make investment decisions. Venture capital has been known to be a male-dominated industry, but it is not easy for men either. In the US, you have the same numerical chance of becoming a professional baseball player as becoming a venture capitalist. This makes me an outlier, someone different from the crowd. I didn't get into the business because I was better or smarter than anyone. I became a venture capitalist because I wanted to use my difference to make an impact. There are three major lessons that I'd like to share with you today. My story goes back to two years ago in Los Angeles. I was pursuing a degree in entrepreneurship and innovation and I became fascinated by this group of people called entrepreneurs. They were different. From their stories, I learned so many things about making an impact that I never knew before. For example, they didn't wait five or 10 years to get started. They kind of just did it. and they were not 100% ready. There's no such thing, they said. And they did not know everything. They hustled, they learned fast, and made it work. They taught me that ideas are worth nothing without killer execution, especially when we are all competing on a global battlefield. Now, I realized that the spirit of entrepreneurship could be as simple as here's a problem. I am going to fix it. How I'm going to do it, I don't know yet, but I will figure it out. I admired these people. Who wouldn't? I was like a sponge absorbing every drop of energy from these fearless dreamers and relentless executors. I wanted to be one of them, but I didn't know what I could do. But I did have a lot of great ideas. My personal favorite was the bubble tea shop. That's right. I thought of at least six different ways to do it. Bubble tea with alcohol, bubble tea ATM machine, a nightclub style bubble tea shop, you name it. I even used it for my semesterl long project and won a best ventures award. I still believe today that I would have been super successful as a bubble tea shop owner, but um I did not take actions. So, this most perfect bubble tea shop does not exist today. What a bummer. So, my first lesson is this. Perfect ideas are worthless unless you act on them. Three months into the program, I already had a problem. When I went to all the startup and entrepreneurship events surrounded by the most smart and driven people, I felt like an outsider because whenever I looked up on stage or looked around me, it was clearly a men's world. The judges were men, the keynote speakers were men. Most of the panelists were men, and the teams pitching on stage typically had five men, zero women. And one of the five would look a little bit like Mark Zuckerberg. And that's not a coincidence. Venture capital investors love Harvard or Stanford dropouts who work on their startups in a garage because they see the next Facebook or they see a younger version of themselves. So what am I doing here? I went home and did a little research and I was shocked by what I found. It was the end of 2014 and guess what I discovered? Between 2011 and 2013, only 2.7% of venture capital money went to female CEOs. 2.7%. That just didn't sit right with me. It was not a level playing field for women. You would agree. People often say that decisions shape destiny, and it's probably true. But what's more important is the curiosity to explore and the courage to take initiatives. After getting tired of being the only woman in the room, I asked myself this question. What can I do to create a better environment for women entrepreneurs? And looking back, this question changed everything because at that moment, I did not assume it was someone else's responsibility. Instead, I owned the problem. From the first lesson, we already knew that if I wanted to have an impact, I have to take actions. But what I could do seemed really limited. I was new to the city of Los Angeles. I was still a student at school with not much work experience and I always thought I was not good enough because I could never get those consulting jobs. But what I've learned now is what matters is not your resources but your resourcefulness. And when you have a purpose, you become resourceful. You think of ways to make things happen. you start to create something out of nothing, just like magic. So, here comes the second lesson that I learned. Just take baby steps and learn along the way. So, I did what a student could do. I started an organization on campus to bring female students together and provide them with access to entrepreneurship. It started very simple. Our first event was in a classroom. Who doesn't want free venue? I didn't have any budget. So, I invited speakers who started cupcake shops or juiceries so that they can bring dessert and drinks. To my surprise, 40 young women showed up. They lined up outside the classroom. I realized, oh, I am on to something. There's a real need. Encouraged by the outcome, I hosted four events within our first month. And four months later, we already had our first annual entrepreneurship summit with over 500 attendees. It was amazing. And next thing I knew, we expanded much beyond Los Angeles, launched global chapters across the US and Asia, and we've hosted over 200 events around the world with a mission to empower, inspire, and connect female entrepreneurs. We now have over 10,000 people in our global community. And all of this started two years ago in the small classroom. By being a young female entrepreneur, I was a little different. And because of this difference, women and other minorities resonated with us and came to us. It was a beautiful attraction. And I didn't do this alone. My early team members who were only 18 and 19 year olds in college did this with me. And after witnessing how fast we grew, they left. Not because I was a terrible person, I hope, but because they had found themselves in the process. They saw how much potential they really had and how much there was for them to do. So they went on to start their own entrepreneurial ventures and encouraged more people to do the same. That's what happens when you empower women. They often go on to empower others in the community and make an impact in their family, their company, and the society. Now, as a young female venture capitalist, I get to share my unique perspectives at global conferences. And sometimes this happens. Here I was in Estonia sitting on a panel talking about global investment opportunities with eight other men. I love it. This is the power of being different. And the coolest thing about what I do these days is that I always get to meet with people who are going to change the world. People who are building amazing things despite their age, gender, race, background, or even marital status. people who are mavericks, extremely passionate, convicted, and alive. I get to hear pitches on where they see the world is going, what the future looks like, and how they are going to get us there. And you know what makes a good story? It's whenever they I hear the phrase, "Everyone thought I was crazy." To me, that's always a good sign because someone dares to be different. Most people don't. Change is against our human nature. So, when you have the courage to go against the world, you are already way ahead 95% of the world's population. The legacy I want to make is to redefine the next generation of diverse entrepreneurs and investors and to represent how deep an impact our generation can make. In the past year, my business partner Elizabeth Galbud and I have made 22 investments in the US and Asia. We helped these entrepreneurs raise $50 million in funding and 80% of my investments have women CEOs. We backed women who are solving some of the toughest issues in the world. Pushing gender equality forward, democratizing financial management or globalizing health care. They are using their difference to make an impact. So that's my story. When I realized that I was a little different from the crowd, I wanted to make an impact. And thank God I didn't wait five or 10 years to take actions. My initial baby steps have quickly turned into something bigger than myself. Don't get me wrong, not everyone needs to be an entrepreneur, but we can all benefit from having an entrepreneurial mindset to dream, to do, and to shape our own destiny. So my third lesson becomes a question. What legacy do you wish to leave on this world? Does what you're doing now reflect who you are? And are you making an impact in the way you want to? I encourage you to look into yourself. Each one of us is a unique individual with tremendous potential to unlock. And if we want to make the most out of however many months we have left in life, we have to start making the right time investment now. And tell you what, we are extremely privileged. The society is more open than ever. We no longer need anyone's permission to be ourselves. And there has never been a better time in history because today it is so simple for ourselves to be heard. And it is possible to create a global influence from day one. So ask yourself this, if not now, when? And if not you, who? My invitation to you is this. Use your difference and make an impact. Because when each of us can maximize our potential and have something valuable to give, that's the most beautiful thing on earth. Thank you.