Chief Investment Officer Update (January 2019)
22 January 2019, Sydney, Australia
Hello everyone. I am very pleased to be appointed as the new Chief Investment Officer (“CIO”) of Peoplewave. As you know the last few months have been extremely challenging for the company (and the wider market). However, after much perseverance and hard work from the Peoplewave team, things are turning around and momentum is building in the right direction. It is exciting times indeed.
Now that our new digital token “PPL” is finally making its debut onto the Liquid exchange, and the swap is nearing completion, I believe it’s appropriate to give you some background on who I am, what the CIO role does, as well as my thoughts around PPL, the company and the broader cryptosphere marketplace.
MY BACKGROUND AS A TRADER
My entire career has been focused on trading and investment. I started as a derivatives market maker for a large options trading company, co-founded my own trading company in Amsterdam, and for the past few years have been seeding and co-investing in various startups (coincidentally how I initially ended up being a part of Peoplewave). I have had direct trading experience with most major equity and derivative exchanges, and have had the wonderful experience of trading through 2 of the biggest bubbles and busts in financial world history (tech wreck and GFC, amongst many mini-tremors to boot). While I was not part of the crypto bubble/crash, I can certainly sympathise with those of you who were.
WHY AM I ALL-IN WITH PEOPLEWAVE?
As an investor, many proposals come across my desk. Most startups are a waste of time. Generally, the founders grandstand their own resumes and are simply just looking for a way to make quick money for themselves, by selling ideas to others. That’s predominantly why 90%+ of startups fail. When I first came across Peoplewave, while I liked the idea, I rejected it as nothing had actually started yet (nothing personal Damien, it just did not tick my boxes).
Eighteen months later, I was approached again. These guys had actually DONE something with the money they raised. They had built up a team with real-world apps as promised. They were ready to take it to the next level by launching PWV and with funds raised from the ICO were ready to launch the blockchain solution. With a fair amount of personal experience, I can tell you most startups do not operate that way. Normally after 2 years it is “sell it off” or “close it up and look for the next big sucker thing”. Damien and Phil were the real deal.
I am grateful to have been able to be allowed to be part of the company after it was established. Needless to say, we are still on the way to achieving our goals, but to be part of a real-world product which is using cutting edge technology and providing the HR space with such a game-changing product is quite a privilege.
MY ROLE AS CIO AND WHAT MY TEAM WILL ACHIEVE
My role as Chief Investment Officer, therefore, will encompass the following:
- Oversee protocols that ensure the tightest security on PPL,
- Propose and advise the company on programs that will benefit the PPL market structure, which in turn will reward the long term holders of PPL.
- Continue to try and raise capital by releasing limited PPL to market. This capital will continue to fund the development of our HR blockchain solution,
- Initiate buybacks and provide liquidity to PPL throughout all marketplaces where PPL is traded.
It is our expressed intent that these operations will eventually allow the market fundamentals to take over and the true potential of PPL to be realized. Once you look at the potential of PPL and Peoplewave it is hard not to get over-excited.
To be perfectly honest, I was never really on the crypto train to begin with. I loved the concept but was too busy and getting too sceptical in my older years. But meteoric bubbles have a mesmerizing and gravitational effect on the psyche. When BTC was being mentioned everywhere, and the price continued to rise exponentially and unabated, I couldn’t help but learn more about it all. It’s got something going for it. However, simple investigation saw many of these ICOs (and cryptocurrencies) as complete frauds, and I believe most will never recover. But spectacular busts happen throughout history, especially with respect to new technologies, and out of the ashes sprout the survivors, leaner and meaner, determined to show humanity they will succeed.
I strongly believe PPL will be one of those surviving sprouts. We’re ready to roll! But why would an outsider consider holding PPL? The following are just a few reasons which I will expand upon in future updates:
- Peoplewave is a real business. I have been to their office in Singapore enough to know that there are some seriously hard working people there trying to get this off the ground. Despite the setbacks, the work continues, and good things are about to happen. They are the real deal with real clients willing to pay real money.
- The CEO is fully invested. Damien has put his money where his mouth is. It’s Hollywood or bust. Nothing beats sweat equity, nothing. I think you will also agree after listening to Damien’s story and just how hard 2018 was for him. Champion qualities for him to continue!
- We are dedicated to PPL. PPL is a token that can be used for the goods and services Peoplewave are creating. Once this expands into the broader corporate community and beyond, the possibilities that PPL could provide in the HR space is simply overwhelming. A fantastic way for SMEs throughout the world to secure a global HR solution for tomorrow.
- We will reward long term PPL holders. Traders looking for a quick buck, good luck. (Did I ever tell you that trading is a negative sum emotion game?). While I wish you all the best, our goal is for PPL to reach its long term potential, and we definitely don’t see this being 100, 1000, or 10,000 sat. Those who are committed to us, and in light of the dramas of last year, we are committed in providing you with significant rewards for staying the course and allowing us to get the show on the road. Lastly, and most importantly,
- WE HAVE SKIN IN THE GAME. All of us at Peoplewave are heavily invested in PPL. I for one tried to catch the falling knife of PWV, as I’m sure some of you also did… OUCH!! Having ‘skin in the game’ is an extremely important part of any asset structure. If the people you are aligned with are making money out of you rather than with you, run. I can tell you that if this does not work out I’m going to have a lot of pain to share, as will the Peoplewave team, as will you. There is no value in PPL to us unless there is value to you as well. Our pain and joy are correlated at the hip.
CONCLUSION — WE HAVE A BRIGHT FUTURE
We have a lot of work to do. We are eagerly awaiting for kickoff on Liquid. Feel free to buy, or sell so that we can ensure our token ends up in stronger hands long term.
I will provide regular updates that will include PPL and company-specific developments, crypto wide observations, as well as some interesting anecdotes to compare PPL, crypto and the general blockchain sphere.
If you have any questions regarding PPL developments, I would kindly ask that you send them to email@example.com . We will all review these emails and will respond via our regular updates. Anything specific to you will need to be addressed to me (firstname.lastname@example.org), Damien — CEO (email@example.com), or Phil — CTO (firstname.lastname@example.org).
All the best for 2019!
Chief Investment Officer
Peoplewave Pte. Ltd.
Disclaimer: None of the content published constitutes a recommendation that any particular cryptocurrency (or cryptocurrency token/asset/index), portfolio of cryptocurrencies, transaction or investment strategy is suitable for any specific person. None of the information above is to advise you personally concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter.
- ENDS –
Peoplewave is Asia’s leading and fastest-growing HR software company powered by cloud and blockchain technology. It is revolutionising people management with data-driven, transparent feedback and verified employee performance data, turning it into actionable data for companies worldwide. Peoplewave’s mission is to make work fair and put people first in people management, in order to bring fairness, transparency, data-driven decision making and humanity to the workplace.
Peoplewave currently offers several key HR solutions: First 100 Days, a new hire strategic onboarding tool; Performance Wave, a continuous 360-degree performance appraisals platform; and HR Command Centre, an analytics suite that unlocks the power of company and employee data. All of these tools will integrate into Peoplewave’s new blockchain platform, Wavebase, a revolutionary platform that provides ongoing authenticated employee performance information that will change the face of hiring and managing workplace talent.
Recognised as a disruptor in HR technology, Peoplewave was listed as APAC CIO Outlook Magazine’s “Top 50 Most Promising Enterprise Startups 2017” and Singapore Business Review’s “20 Hottest Startups 2018”. Peoplewave is also a Top 5 winner of the 2018 Startup-O Fasttrack programme and was most recently voted “Startup Most Likely to Succeed in 2019” in the ATP Pitchdeck Asia 2019 Awards.
Peoplewave is headquartered in Singapore and has offices in Philippines, Hong Kong and Australia.
For more information, please visit www.peoplewave.co