Andrew Chung of 1955 Capital recently spoke before the Chinese American CPA Association about COVID-19 and the challenges that the pandemic presents to business. The talks were in English, so they could be useful both to the immediate audience in China as well as to others in the United States. The topics that Chung spoke on covered everything from personal risk mitigation and treatment to general reopening strategies.
Having invested substantially in climate tech over the last 20 years, Andrew Chung has become not only an expert in the arena, but a climate tech business mogul.
Chung gained most of his experience while investing in climate tech at Khosla Ventures, a firm known for its embrace of cutting-edge tech trends. He spent 15 years at the firm with a specific focus on climate tech opportunities, eventually managing over $500 million in investments for the firm, including in companies such as Lanza Tech, BioConsortia, and others. Chung subsequently left Khosla Ventures to start his own firm, 1955 Capital.
1955 Capital specializes in investing in advanced technology companies that can address major issues facing the developing world. The firm focuses heavily on climate tech, but it also holds investments in energy, agriculture and food. Additionally, it has interests in health care and education. Chung is the founder and managing partner of 1955 Capital.
As a result of his climate tech background and current position at 1955 Capital, Chung has formed a unique perspective that spans both the developed and the developing world. He’s relied heavily on this perspective to identify investment opportunities over the years, but his experience is also proving extremely helpful during the COVID-19 pandemic.
Chung’s insights into the COVID-19 pandemic aren’t limited to any one country or region; instead, they span much of the globe. He’s able to speak in a meaningful way as to how the pandemic is playing out both in China and the United States as well as elsewhere in the world.
Chinese and American Backgrounds Give Multi-Cultural Viewpoint
More specific to this address, Andrew Chung’s perspective isn’t just broadly global. In fact, thanks to his background in both cultures, he can discuss specific Chinese and American concerns.
From the age of 5, Chung grew up working in his parents’ Chinese restaurant, later graduating from Harvard. This combination of an immersive Chinese upbringing with an education at a renowned American institution not only taught Chung the fundamentals of business, but it also allowed him to acquire firsthand experience in both cultures.
With this bicultural background, Chung has an appreciation for both Chinese and American cultures. He understands the business challenges inherent in each, and he can translate this multi-cultural viewpoint to COVID-19 concerns. Combined with his global business perspective, his heritage made Chung well-qualified to address the Chinese and Chinese Americans at the Chinese American CPA Association.
Multi-Day Lectures Receive Attention in China and the United States
The lectures to the Chinese American CPA Association took place on July 25 and July 26. Chung gave the talks in China but spoke in English, so the material could be widely accessible.
For example, the talks received a significant amount of attention in Los Angeles. The city’s notable Chinese and Chinese American population along with the relatively convenient time difference allowed residents of Los Angeles to livestream the lectures.
However, Los Angeles wasn’t the only non-Chinese location in which people tuned in from. Chung effectively spoke to viewers everywhere as many people in the U.S. and across the globe accessed the talk’s livestream.
Chung Has Spoken on Major Health Concerns Before
These lectures aren’t the first time Andrew Chung made a notable address on major health concerns. He was working in greater China during the SARS outbreak of 2002 to 2004, and he advised businesses and spoke at this time as well.
Chung reflected on how his personal experience during SARS has prepared him for the current crisis: “I know firsthand how a pandemic can dramatically slow down businesses and force a rethinking of strategies. But I also have observed companies preparing themselves well and coming out of a crisis stronger than before.”
Andrew Chung Covered Many Topics in His Lectures
In his lectures to the Chinese American CPA Association, Chung covered a wide range of topics that were relevant to both Chinese and American businesses, addressing both business and educational concerns.
First, Chung described how businesses can survive the market downturn that COVID-19 caused and how it will continue to affect the markets. In summary, he said, “By managing through the situation with prudence and calm, our hope is that companies will invent ways to emerge on the other side of this in an advantageous position relative to their competitors and be ahead of the curve when the market turns.”
Secondly, Chung offered his perspective as to how the SARS-CoV-2 virus can be prevented and treated. Because researchers around the world are continuing to investigate the virus and creating treatment options and vaccines, this is an ongoing area of discussion. Even though Chung isn’t conducting research himself, his experience in health care coupled with his awareness of both the Chinese and U.S.’s approach has allowed him to form a unique, valuable perspective.
Thirdly, in a related area, Chung discussed the measures students can take to protect themselves during the coming academic year. From international travel to personal protective equipment, students have multiple issues to navigate.
Navigating the COVID-19 Pandemic
Many of Andrew Chung’s comments will prove useful to businesses and students in the coming months as both China and the United States navigate the COVID-19 pandemic. As he makes additional remarks on these issues, Chung has become not only a leader at 1955 Capital, but also is establishing himself as a thought leader while moving his business forward during these challenging times.