Wear a Mask to Help Keep EVERYONE Safe

I took this picture on Feb 1 when I was flying back from Paris to Toronto.

Feb 1 was:

– 3 weeks after the first death in Wuhan was (officially) reported

– 2 weeks after the second death was (officially) reported

– 1 week after Hubei was locked down and all major entertainment venues in China, including Shanghai Disneyland and the Great Wall, were closed

– 1 day after the death toll increased to 200; Russia, Spain, Sweden and the United Kingdom confirmed their first cases of the virus.

During the SARS outbreak in 2003, Toronto was one of the hardest-hit cities. The memory is still fresh in my mind. Seeing how quickly the virus spread exponentially, it was very clear to me that this new virus, now called COVID-19, is another SARS except that it spreads even faster.

Therefore, I decided to wear my mask on the 8-hour flight because I didn’t want to take any chance. There were probably 10 people on this flight who did the same. Some people gave me a weird look (yes, I caught that) but I don’t really care about the stigma.

Since then, I have been wearing a mask whenever I was in a crowded space. Since the lockdown, when I really needed to go out (no more than twice), I have been wearing a mask.

Although WHO still stands by its recommendation to not wear masks if you are not sick, it really makes no sense to me. I understand that the surgical mask that I am wearing does not seal (and hence there will be leakage). However, even if it could only capture 10% of the virus-carrying particles, it would still reduce the probability of catching the virus (slightly) – in either direction (i.e. getting infected or infecting other people if I am asymptomatic).

In addition, even if wearing a mask would not help at all (I doubt), it couldn’t possibly make it worse. People might give you a weird look. Other than that, there is absolutely no downside.

Assuming using hand sanitizer, not touching my face, etc. could each reduce another 10%, all in a sudden the probability of getting infection could be greatly reduced because they all add up. Every little bit helps.

This is very similar to funnel conversion in running an online business. To improve the purchase conversion rate, one needs to improve on all parts of the funnel – from top (e.g. awareness) to bottom (e.g. intent and transact). We might only get 2% here and 4% there. However, if we could find ~10 things like that, the conversion rate could easily double and the curve would look much steeper (rather than looking flattened).

So, for your own and other people’s safety, please wear a mask if you could. It lowers the conversion rate and flattens the curve.

P.S. I know it is difficult to buy masks now, and if you could, please don’t hoard. I am lucky that our family has always had a box of masks in the house even before the crisis. But even a homemade one is better than nothing. Remember, there is no downside.

Announcing Two Small Fish Ventures Fund II

Earlier today Eva announced on Two Small Fish Ventures’ blog that she has raised $9 million in the first close of TSFV’s Fund II. It is exciting to see her transformation from an entrepreneur to an angel investor and now a VC.

TSFV’s investment thesis remains the same. Fund II will continue to invest globally in early-stage tech companies with strong network effects. The goal is to help nurture them into global tech giants. She has made investments from the new fund already, including Printify and several more about to close.

There is no doubt Canada’s tech ecosystem is thriving. Access to capital is no longer the biggest roadblock for startup successes as we now have a lot of great investors in Canada. That being said, there is still one big gap in the Canadian venture capital ecosystem: very few venture funds are actually co-founded by internet entrepreneurs and product creators who have massive successes. In contrast, in Silicon Valley, there are numerous successful internet entrepreneurs turned VCs. They can recycle their experience and knowledge of building and scaling a product to reach millions of users. This is exactly what we would like to do and why TSFV is special: we will recycle our unique knowledge in building and scaling internet-scale companies to help other entrepreneurs to be successful.

It is also worth noting that TSFV is not just providing capital. Through Creator Circle, a group of successful entrepreneurs and product creators who are investors in Fund II, we are providing a mini ecosystem of like-minded, entrepreneurial people who are also recycling their invaluable expertise to help TSFV portfolio companies achieve escape velocity. When TSFV invests in a company, all these creators are part of the team because the success of the company directly affects their investment. They have skin in the game.

Expect more announcements in the coming months as the final target for Fund II is $15 million. There will also be more investment announcements as TSFV can now write more cheques (and bigger cheques!) with follow on investments too.

P.S. You can read Eva’s announcement here.

Welcome to Allen’s Thoughts

I’m Allen and I’m a serial entrepreneur, angel investor and a champion of the Canadian startup ecosystem. Welcome to my new blog where I plan to share my ideas, insights and inspirations.

I like to write. Over the years I’ve probably shared in excess of 300,000 words. I’ve contributed to media outlets like Inc. and Entrepreneur. My previous blog, Making Things Out of Nothing, covered technology trends, my latest investments and company milestones. For several years, I’ve also maintained an internal blog to communicate with 100+ employees around the world. This private blog encompasses everything from company strategy to technology shifts to management advice. Through my internal blog, I created a lot of content that’s applicable to many people, but discoverable by few.

My hope is that this new blog changes that and becomes a central place for me to share the things I’m passionate about more broadly. And yes, of course, there will be a ton of new content as well. I know there is no shortage of business and tech insights available on the internet, but I believe I can offer a different perspective – from a scale-up or Canadian lens, for example – that sometimes can be difficult to find.

So what am I passionate about?

I’m passionate about entrepreneurship. I’ve launched three companies; the first one failed, I sold the second one, and the third, Wattpad, has grown from a reading and writing app, to a global entertainment powerhouse with a vision to entertain and connect the world through stories (and is well on its way). Both failures and successes have taught me valuable lessons and I’m excited to share these lessons with others – it’s my way to pay it forward so others can avoid (and learn from) the mistakes I’ve made.

I’m a believer in the power of the innovation economy to transform the world by creating a virtuous cycle of disruption and innovation. As both an entrepreneur and investor, I’ve seen some incredible ideas that will dramatically change the way we work, live and play.

As a proud Canadian and as an immigrant myself, I am certain that diversity is a strength, especially in the workplace. It’s no vanity metric either, I can cite numerous examples where diversity powered progress and drove real business results.

So what can you expect from this new blog? In a nutshell, I’ll share my experiences, ideas and even advice about the things that matter to me – entrepreneurship, startups, tech and innovation, leadership, diversity and a whole lot more.

Welcome to Allen’s Thoughts. I’m excited to have you here!