Entrepreneurship of Life
Interviews with immigrant startup founders, venture capitalists, and tech business leaders
***This series is being moved to Substack; read and subscribe for free here***
This is an interview series of 1st and 2nd generation immigrants who are startup founders, venture capitalists, or tech business leaders. It is my way of telling the stories of immigrants, as well as celebrating the entrepreneurial spirit and power of changemaking. Much has been said on either topic, but does putting the two together seem a bit unexpected? See if the following statistics surprise you.
According to KPCB’s Internet Trends 2017 Report, as of May 2017, 15 out of the top 25 USA public tech companies by market cap were founded or co-founded by 1st or 2nd generation immigrants (See Exhibit 1). In addition, about half of the most highly valued US private tech companies were founded by first-generation immigrants (See Exhibit 2).
Exhibit 1: Immigrant Founders / Co-Founders of Top 25 USA Valued Public Tech Companies, Ranked by Market Capitalization (5/31/17)
Source: Kleiner Perkins
Exhibit 2: ~50% of Most Highly Valued US Private Tech Unicorns Founded by 1st Generation Immigrants, May 2017
Source: Kleiner Perkins
You may have heard that Elon Musk immigrated from South Africa, Sergey Brin from Russia; that Jeff Bezos is a 2nd generation Cuban immigrant, and Steve Jobs a 2nd generation Syrian immigrant.
Did you also know that Uber, Paypal, What’sApp, Instagram, Qualcomm, NVIDIA, WeWork, Slack, Zoom, Texas Instruments, Yahoo!, Palantir, Credit Karma, Instacart, Stripe, Zuora, Via, and many more tech giants or unicorns were also founded or co-founded by 1st generation immigrants?
And like everyone else who came to this country with nothing but hope and bravery, these immigrant entrepreneurs had their struggles. As outlined in this intriguing Business Insider piece, some of them once lived on food stamps (e.g. WhatsApp co-founder, Ukrainian immigrant Jan Koum), and others almost had to leave the US due to challenges with the work visa (e.g. Instagram co-founder, Brazilian immigrant Mike Krieger).
Is it surprising that, despite starting out with zero privilege, even challenged with economic hardship, language barriers, and/or cultural differences, these individuals manage to create something magnificent out of nothing?
Yes and no.
Successful entrepreneurship takes an unusual appetite for adventure and change, an unconventional mind that sees what does not yet exist, outsized optimism that you can prevail the slim chances of survival, and perseverance when everything seems to suggest the opposite. These traits often manifest themselves in immigrants by natural selection.
After all, choosing to move thousands of miles to a foreign land and leaving almost everything behind for a shot at one’s dream — isn’t that the ultimate entrepreneurship of life?
You may ask: this sounds inspiring for immigrants indeed, but if I’m not one myself, why should I care?
Well, I hope their stories would resonate with you whoever you are, as long as technology and entrepreneurship interest you. The personal traits mentioned above can be found in any human being, and the immigrants (and occasionally expats) I’ll introduce to you are simply representatives of a larger group of technologists, creators, and changemakers who share these characters and values. This is as much a tribute to the invaluable human drive towards a better future via technological advancements and business experiments, as a spotlight for a demographic group.
I would further argue that such a spotlight is much needed in a time like today, when nationalistic voices are growing louder, along with skepticism and criticism over immigration.
As a foreign national myself, I moved to the US 8 years ago, and over recent years, I have witnessed this alarming shift of sentiment, propelled arguably by political forces. I feel compelled to do what I can to help make our message heard: immigrants in this country are, and always have been, a crucial part of the growth engine; they are doing an amazing job growing the pie of economic welfare for all, rather than seizing pieces that belong to others, as certain propaganda loves to suggest.
So, here we are. Welcome to a series of dialogues I’m going to have with my immigrant guests. They either run their own tech businesses, discover and support other promising startups (as investors or otherwise), or assume leadership roles at high-growth tech companies. You will hear about problems they are tackling, changes they are enacting, and insights they are distilling. Just as importantly, you will also hear about their unique personal stories, as immigrants and as opportunity-minded, industrious, and audacious individuals.
I’d like to give special thanks to Dessy Levinson, a fantastic immigrant founder herself and a dear friend and mentor. She has been the source of my inspiration and has lent enormous support — including being my first honorable interview guest — all while busy launching her digital mental health startup CRATE. Read my interview with Dessy here.
I’d also like to thank you, the patient reader (if you have gone this far), for coming along for the ride. Buckle up — I promise you a fun one!
P.S.: If you have any questions or thoughts, please leave a comment or send me a message. I’d love to hear from you.
Index of Interviews (to be continuously updated)
- How She Creates an Affordable AI Coach — in Your Hand (Q&A with Dessy Levinson, VC-Turned-Founder and CEO of CRATE.COM)
- Trillion-Dollar Technology for Saving Humanity (Q&A with Hara Wang, Climate Tech Investor and Co-Founder of Leading Climate Accelerator Third Derivative)
- Build It, and They Will Vote (Q&A with Wen-kuni Ceant, Co-Founder and CEO of Tech-Enabled Social-Political Platform Politicking)
- Can Authenticity Drive Bottom-Line? This Startup Shows You How (Q&A with Alan Zhao, Co-Founder and CTO at YC Startup Warmly,)
- Silicon Valley Has a Century-Old “New” Player in Town (Q&A with Kevin Ye, Corporate Venture Advisor and Partner at Mach49)
- “Glow Getter”: from Community College Student to $2.5B PublicCo CFO (Q&A with Liyuan Woo, CFO of BeautyHealth (NASDAQ: SKIN))
A social science nerd by upbringing, business professional by training, and technology enthusiast by heart, I marvel at the solutions, disruptions, and paradigm shifts created by a combination of technological innovation, business acumen, and effective leadership. The unique DNA of each successful startup and anything they have in common is a topic that perpetually captivates my mind.
I currently work at Guggenheim Securities advising corporates, governments, and investors in complex financial turnaround matters. Previously, I was an investment analyst with experience in technology investing and portfolio company strategy.
When I am not working, traveling, or spending time with loved ones, I find my sanctuary in books, jogging, journaling, photography, museums, and craft coffee.
I grew up in Chengdu, China (hometown to giant pandas and Mapo Tofu) and received education in Beijing, Philadelphia, and Cambridge, Massachusetts. Currently, I live in New York City with my two feline work-from-home buddies, Million and Ali.
