Season 4 - Episode 2: Unicorns 101
Last week we spoke to Co-Founder and CEO Meti Basiri of ApplyBoard, a genuine unicorn. It was pretty cool - not gonna lie. And you know it was a live episode because I even got a little star-struck. What does one say to a paper billionaire?
For our show today, Chris and I deep dive into some of the biggest points made by Meti. Are 25% of all unicorns founded by immigrants? Is dealing with work colleagues the same if they also happen to be your brother? How common are unicorns anyway? All this and more on today’s episode of Startup Different.
Outline
Meti founded ApplyBoard with his two other brothers. After facing many challenges and obstacles on their own study abroad journeys, the Basiri brothers saw an opportunity to break down barriers and democratize education. Together they created ApplyBoard to make their dream to educate the world a reality. Now applyboard is estimated to be worth over $4 Billion.
Immigrant story from Iran. Took a long time to get into the Canadian higher Ed as students. Fundamentally understood the problem their startup resolved.
Importance of mission driven. Diverse team
Twin brother. Complementary skills, little overlap. Had executive coach in the early days. Helped delineate skills.
Also ok to be more candid and direct with a brother vs a “normal” founder. Can go to bed feeling safe. Dealing with colleagues isn't easier than dealing with brother
¼ unicorns were founded by international students. Mindset of doing something on your own. Out of comfort zone. Data?
I found the article, and he’s right. And it gets better - It’s actually higher if you zoom out from international students. Forbes found data that says immigrants have founded 55% of all unicorns in the US. https://www.forbes.com/sites/stuartanderson/2022/07/26/most-us-billion-dollar-startups-have-an-immigrant-founder/
Direct quote: “Immigrants have started more than half (319 of 582, or 55%) of America’s startup companies valued at $1 billion or more,” the analysis. “Moreover, nearly two-thirds (64%) of U.S. billion-dollar companies (unicorns) were founded or cofounded by immigrants or the children of immigrants. Almost 80% of America’s unicorn companies (privately-held, billion-dollar companies) have an immigrant founder or an immigrant in a key leadership role, such as CEO or vice president of engineering.”
They “took our jobs my ass”. They got you a job.
Key Takeaway
Best piece of advice: don't focus on destination, enjoy the journey.