How one moonshot VC approaches investing in the COVID-19 era – ProWellTech
Playground Global CTO Peter Barrett: “A dating app seems less attractive than contributing in any way”
Check a theme emerges in the Playground Global portfolio: the company’s investments are far-sighted and far-sighted games, a strategy in contrast with the ethics of the rapid return that permeates some sectors of Silicon Valley.
Palo Alto-based VC is aiming for the future with investments in capital-intensive and technically complex activities, including robotics, autonomous driving, metallic 3D printing and infrastructure. It is an investment strategy that is not for the faint hearted.
So how does a company that embraces futurism handle today’s COVID-19 outage? Look forward, of course.
When co-founder and CTO Peter Barrett joined ProWellTech this week for an Extra Crunch Live panel, the pandemic dominated the conversation. The executive noted that a new and common thread emerged during the many discussions between Playground executives and the startups in which he invested.
The priorities are moving towards finding ways to be of service.
These days everything seems different. In recent months, many in Silicon Valley have reconsidered their investment priorities, rolling up their figurative sleeves and starting the process of helping the world survive and ultimately recovering from the seemingly endless COVID-19 pandemic. Like many others, Playground stands at a crossroads – determining how useful it can be, while examining ways in which a crisis like this can be addressed.
“One thing that underlines this pandemic is the awareness that we have to do other things if we want to avoid getting stuck in for six months to a year,” said Barrett. “The biggest trend is the recognition that we have to make the investments that agency offers us on our biology and build the tools and infrastructure, so the parade of diseases behind COVID will not have the same consequences that COVID-19 has.”
The pandemic has also prompted people to reflect on what they want to do with their lives, Barrett said, suggesting that this phenomenon could affect startups emerging from this period and which venture capitalists they choose to invest in.
“If you’re an entrepreneur, I think a dating app seems less attractive than contributing in some way,” Barrett said, adding that entrepreneurs are looking at areas that “put us in a position where we really don’t have to be stuck at internal due to a certain kilobase virus. “
Playground has a number of startups that are able to offer some support, however, as well as the nature of the company’s trend towards long catwalks. Most, however, appear in a better position to consider how we can prepare ourselves for the inevitability of a future pandemic, rather than the one we are currently fighting. Click to read the highlights and watch a video with all our conversation.
Playground of wallet is a mix of companies one we are building what’s this over it a longer timing that to have the capital is patience for weather This pandemic, Barrett said.
However, in the short term, there are categories of companies that have the opportunity to serve and grow their business.