Eric Kim, Co-Founder and Managing Partner @ Goodwater Capital
Today we’re excited to speak with Eric Kim. Eric is the Co-Founder and Managing Partner at Goodwater Capital. Goodwater is a venture fund founded in 2014 and manages over $1.1B across its funds. They were early inventors in companies like Musical.ly, Coupang, and Kakao; all massive exits for the firm. Before Goodwater, Eric was a Managing Director at Maverick Capital, and a Business Analyst at McKinsey.
In this episode we spoke with Eric about the following:
Unlearning the association between achievement, acceptance, and self-worth
Raising capital for his firm, Goodwater, one of the few venture capital firms founded and led by Asian Americans
Why it’s more important now than ever for Asian Americans to serve their community rather than prove their worth through achievement
You can listen to him below or wherever else you get to your podcasts.
On growing up in Missouri
I think it's not too dissimilar to many Asian-Americans who grew up in primarily suburban areas of the United States. In Missouri, it was a predominantly white neighborhood that I grew up in. My parents immigrated from South Korea in the early seventies and moved to St Louis when I was about three years old. I was the only kid in my class that looked like me.
It was interesting. I loved many of the Midwest values that I grew up in, but I also faced a lot of ignorance that many folks wouldn't be surprised by. I was alien to a lot of people. It was interesting to see how that progressed, from playground names to more systematic issues later on. Although, that background is what has made me into who I am today in terms of the resilience I've had to face.
On finding your purpose through serving others
I have a lot to be thankful for all the experiences that I've had over the years. Great mentors, great places to learn and train. I’ve been able to dedicate my life to service and get outside my ego because I realized that one's self-worth isn't in the “balance sheet” you manage. This is where the Asian-American community can start to be leaders within America; thinking about how we can be of service to our brothers and sisters.
We started Goodwater with the explicit mission of empowering exceptional entrepreneurs who are changing the world. We focus on consumer technology because that touches every single person's life, every single day, almost every single hour. Whether you take an Uber, watch Netflix, listen to Spotify, or check social media.
It's been a journey, and I can't say we’re there by any means. I still struggle with my ego and trying to prove myself. But, if I can dedicate my life to service, if I can give my professional work to serve others, that will provide me unlimited energy. This gives me the perspective that one's time here on earth is not to fight for one's self-worth but to think about ways to make this world a better place for everyone.
This is a hard transition for the children of immigrants. You're coming to a new country, and you're just trying to survive. You're just trying to make it. Education was a way out for a lot of us to break free. But I think the sense of achievement attached to education and professional achievement can put a chip on our shoulders that are too heavy and too big. We forget that having a purpose and serving others is what we find rewarding.
Unlearning subconscious behaviors
I can remember being 10 or 12 years years old when my dad sat me down. He told me that because I was Asian, and because I looked the way I did, I had to work 150% harder than anyone else. When people see two resumes side by side, I had to be 150% better on parody or equal footing.
When you hear something like that at such a young age it’s stuck deep in your brain. I will say that this has crept from my subconscious to my consciousness over the years. I believed that I would be able to outrun racism with achievement. What if I just performed well over the years? I would belong, right? If I achieve, if I go to a good school and do all of those things, I would be okay.
Well, I went to Yale, graduated five Beta Kappa, I worked at McKinsey, I went to GSB, I did all those right things. But, over time, you realize the model minority myth has been pounded into your head to achieve and try to outrun racism so that you might just be accepted.
As an Asian-American, I'm tired of running. I'm tired of trying to unlearn some of these subconscious behaviors. You are worthy just by your existence. You don't need to prove to anyone that you belong here. We have to stand up. Our voices have to be heard at this point. And so again, I'm thankful for this opportunity to be with you and your audience today.
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Until next time,
Jay and Angie