(KRON) -- If you’ve ever watched a how-to tutorial, music video, or livestream of cats on YouTube, you have Steve Chen to thank. As the CTO and co-founder of the media platform, Chen built and then sold the company to Google in 2006 for $1.65 billion. Today, YouTube boasts more than 2.5 billion monthly users and is one of the most visited websites in the world, second only to Google Search. KRON 4’s Stephanie Lin caught up with Chen, who has since moved abroad to Asia, on his latest endeavors to replicate Silicon Valley in Taiwan, how to get fast-tracked to live and work in Taiwan, his thoughts on AI, and his advice to anyone on the hunt for startup success.
KRON4: Steve, you moved to Taiwan in 2019. How are things going for you now?
Chen: Good. The original move in 2019 was actually initiated by a kitchen remodel back in the Bay Area. The original plan was to stay the duration of however long it was going to [take to] do a remodel of a kitchen. One of the perks was to be able to give my family, especially my two younger kids, some exposure out of where they had been living all their lives and in the San Francisco Bay Area. But shortly after we arrived, COVID hit us, COVID hit the world.
Taiwan did a pretty good job in handling COVID. There was one week where school was frozen for the school to decide what they were going to do with the kids. They decided that they were going to continue school after a week, as long as the kids came in wearing masks. So, especially when we were looking back at what was happening around the world and even in the Bay Area, we were happy that we were in Taiwan at the time.
KRON4: How is the startup and tech ecosystem in Taiwan compared to the Silicon Valley?
Chen: There is a very dynamic ecosystem for tech here in Taiwan, but it differs from Silicon Valley in many ways. Most of the technology that's known globally that Taiwan stands upon is more on the hardware side and specifically on the semiconductor side. And they are sort of the global leaders when it comes to some of the fastest and smallest semiconductors out there with companies like TSMC leading the way.
But when it comes to startups themselves, Taiwan has, unfortunately, really seen a shortage of them. And especially in the last 20 years, there's been a lot of different efforts in trying to make that different, especially when [the Taiwanese government] looks at Silicon Valley, and they look at the number of companies that were actually started by Taiwanese-American entrepreneurs, and they've been trying to figure out the difference between Silicon Valley and Taiwan and what are the ways that we can try to replicate and try to fix, as well as taking advantage of some of the positive sides of what Taiwan has to offer. I think that it's interesting because they have been able to show success on the hardware side of things, on the semiconductor side of things, but it's trying to see how they can actually make this transition over to the software side of things that's been troubling them for the last 20 years.
KRON4: Are you yourself personally working to kind of push things forward in the way that you think is really going to help Taiwanese businesses take it to the next level?
Chen: Absolutely. I think it's almost a startup in itself, just to see what is it that I can do based on the experience of the 20 years in Silicon Valley and then now being here for five years, I really didn't appreciate some of the positive characteristics of being in Silicon Valley, especially when it comes to startups and helping entrepreneurs flourish until I moved out of Silicon Valley...What are the ways that we can collab great and synergize with Silicon Valley, with some of the resources here in Taiwan, to be able to benefit from the positives of both sides?
KRON4: You have this incredible experience building notable companies in the Bay Area, having been one of the first employees at a number of these different tech companies...there was of course, YouTube and then there was Facebook, PayPal as well. Now you're working to build this bridge of sorts between Silicon Valley and Taiwan. Can you walk us through that process?
Chen: Yeah, you know, I think that one of the things in Silicon Valley I've always noticed was just about everywhere you go. I mean, take any Starbucks, I figure you look around and the people that are in line, the people that are seated drinking their coffee, I always thought that you could find everybody in that room talking about startups. There is that energy. There is that vibe. You can probably find a co-founder in that room. You can probably find your first set of employees in that room. You can find your investors, you can find your potential acquirer in that room. And it's very different in Taiwan, and I'm going to guess in many other parts of the world.
It's just not that dense when it comes to people that have experience, that have the inclination to want to take the risk for a startup. And it takes a lot more effort to be able to bring these people together. I mean, to really seek out people that are interested in taking these risks and the people that have the desire to want to work in a startup environment, which differs so much from what the typical employment with a typical career path is like in Taiwan... But it's, as I've said, it's difficult to be able to be at the same level that Silicon Valley has just about everywhere and anywhere you go. And so, it takes a lot more effort to be able to pinpoint a specific date or a specific location and invite all the people that you actually know that has an interest in this area that come together in order to create that experience that you find at every Starbucks and every coffee shop in Silicon Valley.
KRON4: So is part of fostering that type of Silicon Valley environment about encouraging more knowledge and information sharing and bringing that talent from Silicon Valley to Taiwan? Is that the movement that you're trying to encourage here?
Chen: I think you hit it on the spot because I think there are many different paths to follow, but I really think that to be able to, I think, utilize the environment that Silicon Valley has to offer really requires you and specifically that for the co-founders of the companies to be living in Silicon Valley. I think it's hard to transfer to be able to try to replicate it on your own without having lived in Silicon Valley yourself. So the advice that I've given to the startups as well as kind of the institutions, the colleges, the government here is you really need to bring the co-founders and move that for a period of time into Silicon Valley, which is you can have a team here in Taiwan working... On the engineering side, on the UI, UX design side, but to be able to collaborate together, I think it's important to be able to have part of that leadership team really deep living in Silicon Valley and be immersed in all that Silicon Valley has to offer.
I think that's a first step to eventually create a cycle of having more globally experienced entrepreneurs that were originally from Taiwan but now have had and spent experience time in Silicon Valley. Now they can take that experience and after three months, six months, a year, bring it back to Taiwan and recreate that cycle where you're sending more entrepreneurs to Silicon Valley and all of a sudden you're going to have more entrepreneurs local here in Taiwan that can be advisors that can help other startups here in Taiwan.
KRON4: You're encouraging people to go overseas, get that knowledge, and then having them come back. But at the same time, you're also encouraging people from the US with the expertise to also come to Taiwan and invest and share their background.
Chen: Exactly right. And I think also finally, the other part is to be able to create that complete cycle. So for the entrepreneurs that have never had that experience in Silicon Valley, bring them over to Silicon Valley, have them get that experience. But after a period of time, being able to have them come back to Taiwan and to be able to share that experience and then bring the next wave of new entrepreneurs into Silicon Valley. I think after a few years here, you realize that, you know, no matter how many, you know, Google searches or YouTube videos that you're going to watch, it's still not possible to really learn what it's like to be in Silicon Valley without really living there and being in Silicon Valley.
KRON4: Are you yourself having conversations with lawmakers both on the U.S. and Taiwan side to encourage this? And what are you yourself doing to foster that sort of cross-cultural information exchange?
Chen: It's not that I have in my head all the ideas for the next wave of successful startups. But what I think is and has always been special in Silicon Valley is that these ideas form almost not by any form of a recipe. It's when people start getting together, they're excited about the newest technologies. They're excited about trying to solve problems using the newest technologies. They eventually have conversations and ideas form from these conversations. And so I think the missing element here is really to provide the time and place for these conversations to take place. And so for me, it's organizing and just inviting the extended network that we have here in Taiwan for people that are interested in startups and getting them into a room and then letting them be on their own as they start walking around and having conversations.
KRON4: Tell us about the Gold Card program and how that makes it easier to bring global talent into Taiwan.
Chen: About six years ago, [the Taiwanese government] launched the Gold Card system here in Taiwan. I was invited through the Gold Card application process to receive that first Gold Card that they created. It's to try to get people that have this experience from outside of Taiwan and to attract them into Taiwan through this Gold Card system.
As soon as you apply for the gold card. And if you were to receive it, you're able to fly in and come into Taiwan and bring your family as well. You get the full benefit of the excellent health care that you have in Taiwan, and they try to do as much as they can to make it easy for you and your family to move to Taiwan. And the idea is to try to attract more of this global talent that otherwise would not have really considered Taiwan as a destination that they want to move to. [It's] really targeted towards people that would be willing to move to Taiwan and really settle down in Taiwan. And in the long term vision, be able to create something in Taiwan.
KRON4: So it very much ties into what you were describing earlier, again, about kind of building that bridge. Right, that cross-cultural information exchange. It's all part of that ecosystem. This is a pipeline for people to encourage that innovation and perspective in Taiwan.
Chen: Yeah, absolutely. So I think that it's one thing to be able to send the Taiwanese entrepreneur over to, say, Silicon Valley. And there is an application and there's a process to follow in order for you to do that. The Gold Card is essentially the program that's bringing this talent and this pool of people from outside of Taiwan into Taiwan, and the method in which they're allowed into Taiwan for an extended period.
I did receive the call for the first Gold Card. They said, do you want to fly to Taiwan? WWe) think you exemplify kind of that the entrepreneur, the Silicon Valley serial entrepreneur that we would love to have in Taiwan. So I remember coming in 2018 and flying in really without knowing what was going to happen in 2019, surely not knowing that we were going to stay here for much longer with COVID. I came here really because I was born in Taiwan... I came in here in 2018 to receive that first Gold Card again without thinking that I was ever going to use it. But fast forward a year, I brought my entire family back to Taiwan using the Gold Card system, and I have continued to stay in Taiwan as I renewed my Gold Card.
KRON4: How does one apply for this? Is there an application online?
Chen: There is a specific website for the gold card and it's an online application. Even today, I'm still working with the Gold Card team to make that more efficient. But it's a pretty simple process. It's an online process that you go through to kind of fill it out. But most importantly, it's about your experience and what you've done outside of Taiwan. Whether it's a startup that you've done, if you have written academic papers, if you're doing some form of research... They really want to just bring in professionals and experienced individuals from all the different disciplines into Taiwan. As soon as you fill that out, it'll go through the various ministries that are tied to your specialized sector. And then you'll hear back from the Gold Card team very quickly about whether or not your application has been approved or not.
Stephanie: What's it like to live in Taiwan? Do you recommend it?
Chen: I can testify that when I first moved to Taiwan, it was really an eye-opening experience. It's a very dense and small place, so it's very easy to get around. I think that in the Bay Area, there was no way that I'm going to go even a week without a car. But I've gone through five years here without having my car, just because of how easy it is to just walk or just Uber. And there's so many taxis around and that you can get around so easily. The minimal amount of ease to get on public transportation, to be able to rent a bike just about every few blocks around Taipei... There are many options available to you.
And I think one of the main reasons that we continue to stay here really is not just because of me or my wife but for the entire family. I love just the general safety, especially for the kids, the young ones, to be able to walk out on the street themselves almost regardless of what time it is. 6:00, 7:00, 9:30 p.m. They can still walk around. They can go to the local convenience store by themselves and pick up a little snack. Before the end of the night, they can go out, walk a few blocks to the neighborhood playground, and they can play pickup basketball with any of the folks in the neighborhood. And so I think that it's something where I see the kids as they're growing up really flourishing here because they're able to, you know, really take advantage of whatever ideas that they have in their heads. What I want to do today, what adventures I want to go on today, they can really just go on and do those things.
KRON4: And would you say that it's a pretty comfortable transition for people who've never been to Taiwan before? Are they going to feel like they can acclimate relatively quickly?
Chen: Well, it's an adventure to move to Taiwan. It's not going to be like moving from California to New York or it's not going to be moving from San Francisco to L.A. There is going to be some transformation that's going to take place. You're going to have to find the new ways of transportation. You're going to have to find new ways of finding bank accounts, credit cards, cell phones. But it really is something where after that is done and it takes about three months or so, is when you really start settling down and beginning to realize some of the benefits of living outside Silicon Valley. So I'm going to say that it takes a bit of patience and commitment on the part of the families, on the part of the incoming Gold Card holders to really want to call Taiwan their new home.
KRON4: The reason Taiwan is making a lot of headlines right now is because of the upcoming election. And, of course, there's the relationship between the U.S. and China as well. For folks to want to move to Taiwan, can you speak to whether this something that they have to be concerned about, this tension, if you will, between the U.S. and China and Taiwan?
Chen: I think that that tension is certainly there. But I think the caveat is that that tension has been there for not just the last few years, in which I think Western media has really started focusing and almost amplifying that. But it's been around for multiple decades. I think that it's only been in the last few years where the spotlight from global media has started to focus on it. Because of all the other things that are happening right now around the world, that's actually causing some of these conflicts. Once you've settled down here in Taiwan, I want to say that sort of ironically, it's probably the place that focuses the least on these issues.
Maybe in one case, people have just gotten used to it -- that they know that there is no way to escape from this. But I also think, in all honesty, that it's relatively safe to be living here in Taiwan and that, yes, there is there is that tension. But I think that coming from inside Taiwan, they also firmly believe that that tension is going to get resolved in a peaceful way, that it's not going to really escalate into any sort of any sort of a sort of a military resolution. You know, and I don't think that the people that are living here in Taiwan are planning to flee Taiwan. They do think that there needs to be a resolution, but they think that that resolution will come in a peaceful way.
KRON4: Anything specific that you're working on now that you can share with us?
Chen: We are really earnestly interested in learning how we can better Taiwan to become a platform for global startups... The problem is, how do you make startups more successful in Taiwan? And it's just, let's try this solution, let's try this solution. And it's kind of like launching a product. And the product is how do you create a startup ecosystem in a place that doesn't have the resources that you had access to?
KRON4: Do you have any thoughts about just the direction AI is going in?
Chen: Yeah, I think that to be frank with you, I am very, very excited about what's happening on the AI side. And I think it's always thinking about it from a consumer side of things, as we've done many times when we think about PayPal, when we think about YouTube and we think about Google, Facebook, it's really thinking about it from putting on that head of the end user, the consumer, and thinking, how is this going to improve my daily routine, my daily life? And I just see that from all ages, from all walks of life. There are so many different ways to be able to utilize AI. And there's so much more that you see that's in development. (There are) so much more that's been started in the startup world that is going to continue to accelerate this growth of AI, and I'm excited to just see what's going to be coming next on the horizon.
KRON4: No concern about this taking over jobs and our privacy being invaded, identity theft?
Chen: It's about creating kind of the best product for the end user. And I think all along the way you're going to have stumbling and hurdles that you're going to come across. But I think, again, I think my advice to the entrepreneurs is try to create that best product that you can and don't be deterred away from all the possible hurdles that you're going to encounter and imagining what that's going to impact and affect your business idea... Let's get the best product out there for the end user for them to use, and then we can figure out any of these challenges as they as they come up.
KRON4: What would you say is has been sort of the secret to success for you or just advice for anyone who might be kind of feeling stuck right now building a company?
Chen: I hope this answer of this answer works. I really think that a large part of it is being it is looking in the right place, right time. I think that the fact that I was in Silicon Valley and I had that experience at PayPal taught me that, look, if you have an idea, the most important, the most challenging part is take that first step to try to realize that that solution to that problem. I think that a large part of it is figuring out what the right timing is and what that right market is. But some of those variables are really outside of your sector and outside of your control. So really if you have an idea, it's that first step that's the hardest. But I encourage everyone some time in their lives, you have to go and create a company. Go through that startup experience. You know, successful or not, there are so many unique experiences in that process of creating a startup that only can be achieved, only can be accomplished through creating a startup. So everybody should try one sometime.
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