The AR Show: Dave Haynes (FOV Ventures) on the Early Days of Digital Music and the Importance of Market Timing in Emerging Tech | Otter.ai

The AR Show: Dave Haynes (FOV Ventures) on the Early Days of Digital Music and the Importance of Market Timing in Emerging Tech

Jason McDowall1h 6min

Jason McDowall

00:03

Welcome to the AR show where I dive deep into augmented reality with a focus on the technology, the use cases and the people behind them. I'm your host Jason McDowall. Today's conversation is with Dave Haines. Dave is a founding partner at F ov ventures and investment from backing the founders who are building the metaverse fop Ventures is a new fund with a focus on European based startups at the pre seed and seed stage. They've previously led HTC is $100 million vive X fund in EMEA and was part of the investment team at seed camp, prior to investing day founded two startups in the music industry and was part of the founding team of SoundCloud. In this conversation, Dave talks about his front row seat to the evolution of the music industry, and the parallels to the current AR VR ecosystem. He describes his new fund areas of investment focus and how they think about current investment market conditions. He also talks about the risk of market timing,

Speaker 1

00:52

what we have to think about is, you know, the time horizon that we're investing in, and the kind of the timeframes that those companies are getting funded for as well. So we need to be really clear as investors, you know, we're funding this company now. Like, where are these markets? Where are these headsets going to be in 18 months time not thinking about where it's going to be in five years time. But then when you're starting to think about, you know, kind of exits, and, you know, we have a 10 year fund period, you know, we're hoping to be returning money to investors from year five or six. So, you know, we need to think about where those cycles are and where the companies are, in that part as well. So So on

Jason McDowall

01:27

a pitch deck, you see, shows this slide that says the AR market is going to be massive. We have all these prognosticators who believe that the market would be Mass Effect. I heard you on this podcast say AR is gonna be you say? Uh huh. And why now? Why is your business relevant today, given where they are market is today?

Speaker 1

01:45

Yeah, definitely. And the other key question is like, you know, if the market doesn't move as you expect it like, what do you do them?

Jason McDowall

01:52

Dave goes on to share some advice for pre seen startups as well as his perspective on the evolution of the market and the risks ahead. As a reminder, you can find the show notes for this and other episodes at our website, the AR show.com. Let's dive in. Well, before we get started, there's one more thing. After three and a half years of running this podcast and turning down some advertising offers, I've decided to open a patreon to fund ongoing maintenance and improvements, the podcast. If you've enjoyed episodes in the past, please consider joining@patreon.com slash the AR show. Th e AR sh O W, I'm still figuring out what's valuable for upper tier subscribers, but it may include periodic small group conversations with me or a popular guest, getting a heads up about upcoming guests and the opportunity to submit suggested topics and or some exclusive content. That's patreon.com/the AR show. Now let's get into it with Dave. Dave, I know you have a deep passion for music. Where did that passion originate?

Speaker 1

02:46

Yeah, so I guess the passion really goes back to when I was maybe 1415. I had two older siblings, they were all always listening to music. And, and I think for me at an early age, music was one of those things that I could go and you know, kind of look up things or find interesting things that nobody else was kind of listening into. So I was always like digging into the kind of the more interesting genres or more electronic music. Actually my first job when I was 16, I pretty much took the job just so that I could save up and pay for a pair of good old fashioned turntables. So I still have them sitting on the deck desk next to me. And it's kind of something like 25 years later, but it was really kind of born of a love of kind of vinyl turntables. I was that guy who kind of whenever there was a party at school, I would take my decks along and try and entertain the room. And I guess that's kind of stuck with me ever since.

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