The Adoption of the Metaverse

Meet Meagan Loyst, Founder of Gen Z VCs, Investor at Lerer Hippeau Ventures and an overall rockstar whose energy and passion matches her hustle. Coined as the "Queen of Gen Z VC," Megan is certainly one of the top up-and-comers changing the world of venture capital.

We sat down to discuss a big topic that is certainly top of mind for most in the tech world: The Metaverse. With so many buzzwords and interpretations, what is the Metaverse in actuality?

Simply put, the Metaverse is, "A virtual world where you can work, socialize, shop, and play." Although it has become a standout concept in our current zeitgeist, especially since Facebook's rebrand to Meta in October of last year, the Metaverse is not new. Virtual worlds like Halo, Pokemon Go, and the newer worlds of Roblox and Sandbox are all inherently Metaverses.

Some believe this space is just hype but the numbers are already telling us otherwise, in the not too distant future, ie by 2024, it is expected to develop into a $800 billion opportunity.

Tune into our conversation and read Meagan's full interview below to learn more, especially as we go into the difference between open and closed Metaverse as well as real use cases for both consumers and enterprises.

#TechTuesday Highlight #108:?Meagan Loyst, Founder of Gen Z VCs & Investor at Lerer Hippeau

How/why did you get into your space?

In 2019, I attended the AllRaise conference - one of the largest conferences for women in venture - and walked away inspired by both entrepreneurs on stage (like Emily Weiss) & female investors who supported their journeys. I knew I wanted to have an impact working with founders on the ground solving big problems & sent a cold email to Andrea Hippeau at Lerer Hippeau – I’m the youngest investor they’ve ever hired. I founded Gen Z VCs shortly after joining VC to bring together the next generation of leaders in our industry.

What role do you play in the tech ecosystem and why is that role important?

Historically, younger voices in venture have been ignored. There's a notion that you need to have X amount of years of experience to add value or be an investor, and that’s simply not true. My role as the founder of the Gen Z VCs community & movement has been to flip that narrative… empowering Gen Z voices. In today’s world, if you’re a founder building for Gen Z (the largest, most diverse generation), having the Gen Z perspective around the table is just as important as any seasoned exec in the room – we bring a level of authenticity, understanding of GTM, and view of the world from our lived experiences.

How has technology impacted your industry and why is this important??

I built the largest & fastest-growing community for young people in tech & VC entirely online – and a global one at that. I’m one person in NY, but Gen Z VCs has members from more than 100 countries all over the world – we’ve grown entirely via word of mouth. We congregate on Slack to build community, friendships, and conversation – that type of reach wouldn’t have been possible without technology.

What do you believe is the most exciting tech trend for 2022 (as it relates to your industry)?

Definitely the metaverse. When I think about consumer trends and where the world is moving, the next generation of consumers will inherently be gamers. Gen Z is powering adoption in the metaverse today and I expect to see broader adoption as more artists, musicians, and brands create cultural moments in the metaverse. Here’s my 26 page manifesto that breaks down why we should all care about the metaverse (and what it is!).?

Who is a person that inspires you in the space and why?

She’s not necessarily in the space, but Taylor Swift. I’m a dedicated Swiftie and love the way Taylor has shifted the narrative around empowered ownership over her work and also building community/fandom. When I think about the future of Web3, in 10 years I think we’ll see more artists using tech to own their work from the get-go and incentivize fans to get involved from Day 1. I also just love how she advocates for herself (and creates space for other women) even when people underestimate what she can do… like re-recording her masters to have full ownership over her work, even though the industry laughed at the idea at first. And now look at the success of Red (Taylor’s Version) & the records broken for All Too Well (Taylor’s Version). She’s re-writing her own narrative.

What advice would you give to someone who wants to get into your space?

Start doing the job before you start. Anyone can begin doing thematic deep dive work on where the world is moving, build relationships with founders or community, and start thinking about their unique angle or edge. And don’t underestimate the power of a cold email… I often find the best jobs are ones that you create yourself through targeted relationship building and catalyzing opportunities. Give them no reason to tell you no!

Anything else we should know about you or you want to include?

I’m also on the Advisory Board of Girls Who Invest, which is dedicated to seeing more women in leadership roles in asset management (specifically, having 30% of the world’s assets managed by women by 2030). I was a scholar in their initial cohort back in 2016 as a freshman in college and it changed my life – so I always encourage students especially to be curious & get real-world experience however possible.

#metaverse #openverse #closedmetaverse #meta #fintech #innovation #tech #technology #digitaltransformation #vc #venturecapital #investing #womenintech #womeninfintech

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Have thoughts on this week’s trends or questions for me or Meagan? Post your thoughts in the comment section or share them on Twitter. Please include the hashtag #techtuesday and mention me @ScarlettSieber! Until next week.???

You can connect with Meagan on LinkedIn and Twitter.

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