Synapse Orlando, which brought over 1,200 startup players in the Orlando ecosystem under one roof, was filled with panels, keynotes and a pitch competition on Oct. 18.
One panel titled "Top Tech Trends in Florida" brought investors from across the Sunshine State on stage to discuss topics including blockchain, artificial intelligence and the impact of big tech.
On blockchain and crypto
All five panelists agreed that while there is big use and potential in blockchain, it may be a bit too early to tell just what could come of cryptocurrency.
"I think blockchain has many different uses with real estate, AI ...," said Aia Surycheva, an investor at the Revolution Rise of the Rest seed fund. "There is more confidence — for us — that it is a technology that's here to stay. I agree crypto is too early to tell; if it is a technology that could stay or if there would be issues, whether it's getting the regulatory framework for it to exist or trouble with mass adoption."
"When it comes to blockchain I do think it's here to stay," Tom Wallace, managing partner at Florida Funders, said. "But being too early can be just as bad as being too late. I think it will take some real time with investment opportunities. We haven't done any deals with it and haven't rushed it yet. With cryptocurrency ... who knows which one will win. I do belief there will be winning ones, I do believe there is tremendous opportunities but picking that winner, I don't know how to do it yet."
On being the next Silicon Valley (or Boston, or Austin...)
"I think we've had this conversation many times," Jennifer Dunham, partner at Arsenal Venture Partners, said. "Are we ever going to be a Silicon Valley? Probably not, and I don't know if we should try to be. Florida has its own strengths, like every state does. We have made improvement in terms of the ecosystem and bringing in good companies and tech talent."
On outside investments
"I believe we want investors who know how to build great companies; it doesn't matter where they come from," Terrance Berland, managing partner of Kirenaga Partners, said. "We actual struggle with Florida investors. Ninety-five percent of the capital is not from here. I'm not for or against any Florida funders, I'm for a set of investors who get what we’re trying to do with different companies."
"Florida Funders helps awaken the sleeping giant of 3,000 accredited investors in the state," Wallace said. "Most of them didn’t make their wealth in tech, so they're not prone to investing in it. But moving on to later stage investing of $10 million to $20 million for Series A round, we definitely want as much outside capital as we can get. We don't have a ton of $200 million investment firms in the state. We welcome [outside investment firms] and need them, really."
On breaking up big tech
"Any time there are companies that may have too big of a share and engage in monopolistic behavior, it's a question of how to address that," Surycheva said. "How startups and them are able to compete on an equal footing, and that's what those policies aim to support. The rules will always follow innovation, but the question is, 'How can we preserve the spirit of innovation for companies?' Especially in the early stage, to have a fair shake without losing the fight very early on."
On the play for personal data and individuals owning their own data
"I think there are opportunities, somewhat, to monetize but I still think it's too early to tell who the best parties are to do that," Dunham said. "Whether it's the business, companies, individuals, there has to be some regulation to make sure it's private."
"It's interesting and very early on this front," Surycheva "But looking at what your work is and output is and whether you should be able to compensated, is more of a discussion. When you put out data, it's your labor and work and you should be compensated. I will be interested to see, as it goes forward, what it will look like."
On artificial intelligence and its effect on the labor force
"It's evolving and will be part of our futures," Dunham said. "And there are a lot of jobs that focus on human interaction, which is how you treat your jobs, how you treat your customers. There's this idea you have to be technologically advanced, but you can't forget about the human element. Because, in some cases, it's more important. And we are losing that a little bit."
"Being around tech for a long time, you always see this problem with new technology that will it take away jobs," Wallace said. "And it seems to have given more than taken away. Clearly, we will need less truck drivers, other jobs and not just blue-collar ones. It will affect a lot of different aspects of the labor force, but I am hopeful it creates more job than it displaces."
