*By Carlo Versano* When Alexis Ohanian and Garry Tan, the co-founders of the early-stage VC firm Initialized Capital, consider seeding companies, they think about software. "Every single piece of GDP will be eaten by a software company," Tan told Cheddar in an interview from the Web Summit in Lisbon, Portugal ー the only question is, whether it'll be an incumbent or a start-up. So while the firms they invest in ー companies like Instacart, Skip, GM Cruise, and Coinbase ー are as varied as can be, they all have great software at their core, Tan said. Ohanian, who also co-founded Reddit, expanded on some of those investments ー like Skip, one of two providers of e-scooters in San Francisco. He's bullish on the red-hot scooter industry because of the so-called "last mile problem" in mobility. "Even the best car-sharing with the most autonomous, smartest vehicles isn't really designed to solve" what simple scooter fleets can, he said. Initialized is "investing for the long-term" with Skip, which Ohanian credits with pioneering the hardware and software platforms that make scooters possible. And Skip is showing that transportation start-ups can successfully work with government in both deploying and scaling. They "learned the lessons the hard way from ride sharing," he said. Tan and Ohanian have long been at the forefront of the crypto craze, and they remain unfazed by recent softening in Bitcoin. "We're in crypto winter," Tan said, noting that there was a similar period five years ago, which led to the creation of Ethereum. "That's the kind of thing we think will happen again." Ohanian and Tan like to think of themselves of contrarians in the world of venture capital, where they like to take chances on "real builders and real makers" and founders that follow their own ethos. "We've never really cared what the rest of the industry thinks is good," Ohanian said. "We make up our own minds." For full interview [click here](https://cheddar.com/videos/vc-insiders-share-what-they-look-for-in-start-ups).

Share:
More In Business
Al Sharpton to lead pro-DEI march through Wall Street
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
A US tariff exemption for small orders ends Friday. It’s a big deal.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines’ new policy will affect plus-size travelers. Here’s how
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Load More