The Next Trillion

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Why I do what I do - my journey from a teenager immigrant to a Silicon Valley VC
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Jay Zhao

January 2024

Why AI-first Companies is a Different Species (Compared to Traditional SaaS)
... and some predictions!
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Jay Zhao

November 2023

Gratitude and Reflections: Three Years at Leonis Capital
Thanksgiving just rolled by, bringing with it a milestone that means a lot to me - three years since the inception of Leonis Capital. It's more than a…
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Jay Zhao

March 2023

My Mother
The Last Lesson She Taught Me
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Jay Zhao
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February 2023

Zen, Art, and Startup Investing
A Reflection on the Creative Process and Entrepreneurship
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Jay Zhao

January 2023

Investing in Technological Supercycles: AI, Web3 and Non-consensus Founders
What do AI and Decentralized Protocols Have in Common?
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Jay Zhao
10 Predictions for 2023: AI, Web3, and Beyond
[The piece was originally posted here] What a year for 2022! As we enter the new year, we’d like to take the time to reflect on some major events that…
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Jay Zhao

December 2022

Generative AI: State of the Market, Trends and Startup Opportunities
Originally published here, the paper was authored by Jenny Xiao and Jay Zhao at Leonis Capital State of the Market From Stable Diffusion to ChatGPT…
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Jay Zhao

October 2022

First Principles and Being "Non-consensus" in Ventures
Perspectives from three founders who have built companies from "0 to 1"
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Jay Zhao

August 2022

Why Web3 is a BFD
...and 3 of our "unpopular" beliefs in web3
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Jay Zhao

June 2022

What to Do in a Market Downturn - An Internal Letter to Leonis Founders
4 Things to Consider for Startups
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Jay Zhao

January 2022

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