His Excellency (H.E.) Justin Yuchen Sun is a Geneva-based, Chinese-Grenadian diplomat, entrepreneur, and business executive. As Ambassador and Plenipotentiary of Grenada, Justin Sun is their Permanent Representative to the World Trade Organization. Most widely known as the Founder of TRON, a leading blockchain DAO ecosystem, Sun is an innovative crypto diplomat and aspiring crypto space pioneer.
Sūn Yǔchén (Justin Sun) was born in July 1990 in Xining, China. He holds a Bachelor of Arts degree in History from Peking University and a Master of Arts in East Asia Studies from the University of Pennsylvania. In 2014, Sun was awarded the Davos Global Shaper Award by the World Economic Forum. In 2015, China Network Television declared him their New Figure of the Year. Forbes honored him in both 2015 and 2017 by naming him among their China 30 Under 30 list, along with their Asia 30 Under 30 list in 2017.
Founded in September 2017 by Justin Sun, the TRON network exists to accelerate the decentralization of the Internet via blockchain technology and decentralized applications (dApps). In June 2018, TRON became independent of the Ethereum Network as a stand-alone blockchain. July 2018 featured the acquisition of BitTorrent, integrating a pioneer in decentralized services and blockchain file storage, boasting nearly 100M monthly active users. The TRON network now has over 111 million users and hosts more of a circulating supply of stablecoins than any other blockchain, including USDD, the only stablecoin in existence to be 130% collateralized.
As a crypto space pioneer, Justin Sun placed the winning bid of $28 million for the first seat on Blue Origin’s New Shepard spacecraft but was not able to participate in the initial flight. His bid was exchanged for a private flight at a later time, which included not only a personal ticket but also five guest tickets. The invitation for five guests to join him became a charity event called “Sea of Stars.” The five lucky astronauts will be selected by Sun himself, and the space experience is expected to take place in the fourth quarter of 2022. Sun hopes to inspire more people to participate in space exploration.
The TRON Network completed full decentralization in December 2021 and is now a community-governed Decentralized Autonomous Organization. Offering a living example of decentralized authority and leadership, Sun wrote in an open letter about handing off the TRON Network to the TRON community:
“For the greater benefit of society, there’s nothing better than having a founder of a thriving community abdicate all power over users, assets, and data [in order to] achieve something great. A truly inclusive financial infrastructure that belongs to all mankind should be unlimited, decentralized, and thresholdless.”
Where did the idea for your career come from?
Exposure to the industry. When I was starting off, I noticed that an untapped market was available. I had the knowledge and foresight on what to build and was able to solve a big problem for a big part of the world.
What does your typical day look like and how do you make it productive?
My calendar is always busy with meetings, so I am constantly meeting interesting people. I have a great team that helps me stay on top of things.
How do you bring ideas to life?
Fortunately, I work with very smart people, and we put our minds together to execute grand visions.
What’s one trend that excites you?
It’s no surprise, but DeFi and Stable Coins excite me. This is the future of global finance and it’s barely getting started!
What is one habit of yours that makes you more productive as an entrepreneur?
Having an organized calendar. It sets up the structure of my day.
What advice would you give your younger self?
Just keep going. It is going to be very challenging and unexpected hardships will arise, but you must persevere.
Tell us something that’s true that almost nobody agrees with you on.
Ethereum’s fork of Proof of Work (Not Ethereum Classic).
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Stay curious and believe in yourself. Things move fast, so you need to constantly be learning and have the conviction to execute.
What is one strategy that has helped you grow your business?
Being good at reading financials. Understanding how a business is operating gives you the status of a company’s health.
What is one failure you had as an entrepreneur, and how did you overcome it?
I’ve had prior companies fail in my past, but in hindsight, each venture brings experience that prepares you for you next.
What is one business idea that you’re willing to give away to our readers?
Social media on web3. I know there are lots of startups working on it and none have cracked it yet, but that is an exciting space to build in.
What is the best $100 you recently spent? What and why?
When I was first into crypto, I put a few dollars in to test the waters. After that, I was hooked into the space.
What is one piece of software or a web service that helps you be productive?
Twitter is my favorite social media platform. I use it to stay in touch with the community and stay updated with events in the industry.
What is the one book that you recommend our community should read and why?
Maybe Elon Musk’s biography. It gives you an insider look at how a great mind thinks and operates.
What is your favorite quote?
There are several thinkers that have inspired me, ranging from Warren Buffett, Jeff Bezos, Elon Musk, Jack Ma, and more. Big thinkers inspire me to push myself and break boundaries.
- Take inspiration and pay attention to the minds of big thinkers and industry leaders.
- Each venture allows you to grow into the next one, providing the experience needed to flourish in the future.
- Unexpected hardships will undoubtedly arise, but you must move forward.
Steve (Stefan) Junge hails from Germany and helps with the day-to-day publishing of interviews on IdeaMensch. While he and Mario don’t share a favorite soccer club, their enthusiasm to help entrepreneurs is a shared passion.