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Playground Global CTO Peter Barrett: ‘A dating app looks less appealing than contributing in some way’ .
Kirsten Korosec Brian Heater 7 hours Take one glance at Playground Global’s portfolio and a theme emerges: The firm’s investments are forward-looking, longer-term plays, a strategy that runs counter to the fast-return ethos that permeates certain Silicon Valley sectors.
Recent months have caused many in Silicon Valley to reconsider their investment priorities, roll up their figurative sleeves and begin the process of helping the world survive and, eventually, recover from the seemingly endless COVID-19 pandemic.
“One thing that underscores this pandemic is a realization that we need to be doing other things if we want to avoid being stuck inside for six months to a year,” Barrett said.
The pandemic has also driven people to reflect on what they want to do with their lives, Barrett said, suggesting that this phenomenon could influence which startups emerge from this period as well as what venture capitalists choose to invest in.
“If you’re an entrepreneur, I think a dating app looks less appealing 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 inside because of a certain kilobase virus.
Playground’s portfolio is a mix of companies that are building things on a longer timescale that have the capital and patience to weather this pandemic, Barrett said.