Dr. Jyh-Cheng Chen, Dean of the College of Computer Science at National Yang Ming Chiao Tung University, invited YouTube co-founder Steve Chen to lecture on November 13. The event was hosted and moderated by President Chi-Hung Lin. As the first overseas talent to receive Taiwan’s Employment Gold Card, Steve shared his 20-year journey from employee to entrepreneur in Silicon Valley. He also reflected on his five years in Taiwan since the pandemic, offering valuable insights and advice on the local startup ecosystem. Finally, Steve discussed Draco Evolution, the company he co-founded with Taiwanese startup teams, and shared his perspective on AI entrepreneurship from a financial viewpoint.

 

From Paypal to YouTube: Steve Reflects on His Two Silicon Valley Journeys from Employee to Entrepreneur

In February 2005, Steve co-founded YouTube as its CTO. By the following October, the platform was sold to Google for $1.65 billion—an iconic achievement that continues to capture attention today. This success can be traced back to Steve’s bold decision to drop out of college during his senior year and join PayPal. When President Lin expressed curiosity about the source of Steve’s "adventurous spirit" and his willingness to take such risks, Steve explained that decisions are never completely certain and that risk is largely a matter of probability and careful calculation.

Advice for Taiwanese Startups: Adopting a Global Market Perspective and Israel’s Hybrid Work Model

Reflecting on his experience with startup opportunities in Taiwan since his return, Steve shared that, due to the pandemic, he has now been in Taiwan for five years. Once he realized he would be staying long-term, he began exploring what it would take to build a successful company in Taiwan, focusing on fundraising and talent recruitment, just as he had in Silicon Valley. However, he encountered several challenges. One key insight was the importance of focusing on international markets rather than limiting attention to Taiwan’s 23 million people. Steve pointed out that even top companies may mistakenly see internationalization as simply a "translation" task. They assume that if a product's initial release is successful, the next version only needs to be translated and can then be launched globally. However, for a product to succeed in international markets, its initial release must be specifically tailored for those markets rather than being a modified version of a local product. Additionally, factors like timing and strategy are crucial for achieving success.

 

Steve's next observation was the "cultural differences in Taiwan startups." In Silicon Valley, most employees seek stock options, aligning their interests with the company's. If the company fails, everyone fails together—fundraising is focused on the company's growth, not employee salaries. In contrast, the situation in Taiwan tends to be quite different. As a result, factors such as internationalization, language, and culture make it relatively easier to expand into global markets from places like Hong Kong or Singapore. However, Steve emphasized that he is still based in Taiwan and highly engaged in the local startup ecosystem. He frequently meets with entrepreneurs worldwide through the Golden Card Program, establishes companies, and even sets up funds to support local startups. Despite the challenges, Steve believes the high quality of engineers in Taiwan—on par with Silicon Valley—is a key factor. This, in turn, leads him to consider that Taiwan could adopt a hybrid model like Israel's, where the co-founders are in Silicon Valley, but the main team remains in Israel.

Lastly, with the Taiwanese startup team, Steve founded Draco Evolution, a company focused on AI-driven investment solutions. In July, they launched their first financial product, the DRAI ETF, which was listed on the New York Stock Exchange at $25 per share. President Lin was curious about Steve’s decision to venture into AI through financial projects. In response, Steve explained that AI has already made significant strides across various industries, demonstrating its ability to handle many core tasks. AI has proven valuable in finance for performing large-scale calculations, analyzing data more quickly, and offering insights and investment evaluations. AI regulations are expected to become more relaxed and open following Trump's election.

Steve believes that AI will bring about an exciting new era. While some things may fade away and AI might become uncontrollable, it still allows people to consider what it can and can't do and where it can be improved. He shared an example involving his own children, saying that he still disagrees with them downloading TikTok and dislikes their habit of watching YouTube shorts. However, when he gave a talk at their school, he was surprised to learn that many students aspired to become YouTubers. He found this phenomenon fascinating—regardless of the quality of content, the market clearly has its own direction. Steve advised the students not to imitate Silicon Valley’s approach blindly but to reflect on the challenges they face, take risks, and, if they have a strong idea, test it after considering the potential opportunities and costs. At the very least, he encouraged them to give it a try. He hopes that, before they settle down with marriage or children, everyone will take the chance to start a company—whether it succeeds or not.