Is college still worth it? Samir Vasavada built a billion dollar AI company by age 24, and he did it without a college degree. He thinks universities are becoming outdated. This is his story of betting on AI and turning Vise into a company that is changing wealth management.
From Cleveland to a Billion-Dollar Valuation
Samir grew up in a traditional Indian family in Cleveland. His parents wanted him to go to school, get a degree, and find a stable job. But Samir had other plans. He dropped out of high school at 16 to start a company.
Samir always loved to build things. As a kid, he loved Legos. He knew he wanted to be an entrepreneur. He realized that a traditional path wasn’t for him. He believed he could build a network on his own and didn’t need to go to college.
Meeting the Co-founder
Samir met his co-founder at a summer program at Northwestern University when he was 12. Samir wanted to make money so he could drop out of school. Samir convinced his co-founder to build mobile apps for small businesses.
Samir admits he “slowly cracked away at him to the point where I was almost able to sculpt him into the person, I needed him to be in order to build the business we were looking to build.” He didn’t regret not finishing high school or going to college.
Spending Money Wisely
For a long time, Samir and his co-founder bootstrapped their company. They were careful with their money. They were afraid to spend it. But after raising money, they went too far the other way. They thought money was free and easy to get. Samir learned that there is a balance.
How to Spend the Startup Money
- Invest in the Right People: Find a few people who will make a big difference.
- Align Incentives: Make sure your team is as motivated as you are.
- Focus on Key Areas: Invest in what is most important for your business, like a great office or sales.
- Experiment: Test new ideas with small investments before spending big.
- Key takeaway: A strong team is key to success. Focus on finding the right people and give them the resources they need.
Hiring the Right People
Samir looks for qualities over skills. Skills can be learned, but qualities are part of who a person is. He also looks for people who fit the company culture and who he enjoys working with.
Samir looks for “barrels,” people who can take a project from start to finish with little direction. He also needs “ammunition,” people who can do specific tasks well.
Questions to Ask Potential Hires:
- Who are you as a person?
- What struggles have you overcome?
- Can you operate at all levels of a company?
How AI is Transforming Hiring
AI helps Samir be pickier about who he hires. He wants people who can use AI to automate tasks and create scalability.
He believes a small team can achieve a lot with AI. For example, his client service team went from six people to two, while handling 20 to 30 times more accounts, by automating everything.
Vise: AI in Wealth Management
Vise uses AI to help financial managers manage money. It helps them personalize portfolios for their clients.
How it Works:
- Understands Financial Goals: AI learns about a client’s needs and goals.
- Customizes Portfolios: AI creates a portfolio that fits those needs.
- Automates Tasks: AI handles tasks like rebalancing and tax management.
If a client is worried about something, like new tariffs, the advisor can ask Vise, and the AI will explain how it will affect the portfolio.
Samir learned about investing by reading, watching videos, and talking to people. He says it is important to learn from others by shadowing them.
Overcoming Challenges
People questioned Samir because he did not have a degree. At first, he was scared to tell people his age. But he learned that knowing the industry and solving problems is what matters.
He also surrounded himself with smart people who had experience and credibility.
What Keeps Samir Going?
Samir admits he has wanted to quit many times. But he has a vision for his company. He wants to democratize wealth and give everyone access to personalized financial advice.
He believes it Is his destiny to succeed. He tells himself to focus on the big picture and not get discouraged by the bumps in the road.
College vs. Real-World Learning
Samir thinks college is losing its value. He believes the university system teaches people what to think, not how to think.
He says the best way to learn is to find someone impressive and shadow them. Work hard, learn their business, and show them you are willing to go above and beyond.
Investing Tips
Samir advises investing in a broad-based index, like the S&P 500. Rebalance it a few times a year and consider taxes and fees.
He also recommends having a small amount of money to play with in riskier investments.
Democratizing Wealth
Samir wants to make Vise available to everyone. He wants to help advisors service clients they could not have serviced before.
He believes AI will make information free and accessible. The most important skills will be learning how to learn, solving problems, and communicating well.
Finding Your Superpower
Samir’s advice for staying ahead in the AI era is to understand your superpower. Find the thing you are best at and become the best in the world at it. Ask your friends and colleagues what makes you great. Focus on your strengths and forget about your weaknesses.
He believes careers compound over time. So, stick with one thing and reap the rewards.
Are You Ready to Build Your Own Billion Dollar AI Company?
Samir’s journey proves that anything is possible. He trusted his vision, worked hard, and never gave up. Now it’s your turn! Figure out your superpower and revolutionize the world!
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