Latest news with #Phia
Time of India
17 hours ago
- Business
- Time of India
Bill Gates with over $120 billion net worth, works as customer support agent in this company without investing a penny
In a rare yet heartwarming gesture, Microsoft co-founder Bill Gates recently took on a customer service role at Phia, a fashion-tech startup co-founded by his daughter Phoebe Gates and her Stanford classmate Sophia Kianni. Despite his estimated net worth of over $120 billion, Gates shared that when your daughter asks you to work a shift at her company, 'the only right answer is yes. ' His day on the front lines wasn't just a fatherly gesture—it reflected a growing trend of top executives stepping into hands-on roles to better understand modern startups from the ground up. Bill Gates trades the boardroom for the help desk Gates shared the experience on LinkedIn, calling it both insightful and humbling. He emphasised that working directly with customers is one of the best ways to learn how a system functions—or where it fails. His willingness to take a shift on the help desk speaks volumes about his commitment to mentorship and his belief in learning from the bottom up, regardless of wealth or status. Phia is a browser extension and mobile app that leverages artificial intelligence to help users shop smarter and more sustainably. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play this game for 1 minute and see why everyone is addicted. Undo It compares prices across over 40,000 online stores, offering both new and second-hand options. The platform also highlights eco-friendly alternatives, aligning with Gen Z's growing preference for sustainable fashion. Gates praised Phia for reimagining the online shopping experience and centring environmental values. Bill Gates steers clear of investment Interestingly, Bill Gates has not invested financially in Phia. In a podcast, he explained that investing might pull him too deep into the business and risk overshadowing Phoebe and her co-founder. Instead, he chose to support them through advice, encouragement, and by engaging directly with their customer support system—offering them insights without compromising their autonomy. Gates joins a small group of influential leaders embracing 'leadership by doing.' Uber CEO Dara Khosrowshahi, for instance, once worked as an Uber Eats driver to gain firsthand experience. According to a Harvard Business School study, most CEOs spend less than 10% of their time with customers or frontline staff. Gates' one-day customer service stint is part of a broader shift toward more grounded, empathetic leadership styles. Though brief, Gates' role at Phia serves as a strong reminder that staying relevant in today's world requires humility and curiosity. For a billionaire who helped define the tech era, spending time in customer service may seem small—but it reinforces a powerful principle: the best leaders never stop learning, even if it means starting from the inbox.
Yahoo
3 days ago
- Business
- Yahoo
Melinda French Gates says she refuses to give her 22-year-old daughter any money for her shopping business — here's why
With an estimated net worth of $30.7 billion, Melinda French Gates can easily bankroll her daughter's business without breaking a sweat. But at a recent summit, the billionaire philanthropist confirmed she is not funding the new venture. Gates didn't say which of her two daughters she was referring to, but 22-year-old Phoebe Gates recently launched Phia, an AI-powered shopping app, according to The Verge. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how 'I wouldn't put money into it,' Gates told host Amanda Davies at the *Power of Women's Sports Summit presented by e.l.f. Beauty in London. By holding back her financial support, Gates says her daughter gets the chance to test and validate the business idea with real investors and customers. If it's a 'real business,' Gates says, the venture will eventually find people willing to back it. Phia has already attracted outside capital. According to GeekWire, the startup has raised $850,000, including $100,000 from Soma Capital, a $250,000 Stanford social entrepreneurship grant and $500,000 from angel investors such as Kris Jenner and Desiree Gruber. Phoebe Gates and her co-founder, Sophia Kianni, have also secured a podcast deal to promote the venture. Her journey offers some valuable lessons for anyone looking to start a business. Look for real-world traction Despite the flashy headlines, most startups fail. Roughly 90% eventually collapse, according to the Founders Forum Group, with 42% failing because they couldn't meet market demand. In other words, the odds are stacked against you, and the most common pitfall is building something nobody wants to pay for. To avoid this trap, try to find relatively cheap and quick ways to validate your business idea. Pitch the idea to angel investors or industry experts to see if they would bet real money on the venture's success. Better yet, look for paying customers to validate your business idea before you sink too much of your own money into it. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Customers are the best source of funding According to the Small Business Administration, about 14% of small business owners relied on friends and family for funding in 2023. More often, though, entrepreneurs turned to self-funding methods like credit cards or formal channels like banks or government agencies. One of the most popular sources of funding was the business itself. Nearly 31% of small business owners relied on the corporation's earned and retained earnings to fund and grow their ventures. In other words, paying customers can be your best source of startup capital. If you're launching something new, think about how to attract real customers first. For example, you could build a waitlist of clients who have already signalled interest in your product or service. You might also collect early deposits or presale revenue to help fund development. Getting those early customers will take time and effort, especially in marketing, but it brings two major benefits: proving there's real demand and creating early cash flow to support your growth. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here's how Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
NDTV
4 days ago
- Business
- NDTV
'Hopefully Won't Break Anything': Bill Gates Joins Daughter's AI Fashion Startup Phia For A day
Microsoft co-founder Bill Gates joined his youngest daughter Phoebe's fashion startup as a temporary customer service representative rather than an investor. Phoebe Gates, co-founder and CEO of Phia, asked her father to work a shift assisting users directly. In a long LinkedIn post last week, Mr Gates said he was returning to the startup industry by working for his youngest daughter's company. "I've entered the startup world again..." Mr Gates wrote. "When your daughter asks if you'd be willing to work a shift in customer service at her startup, the only right answer is yes," the tech billionaire wrote. He called the experience eye-opening and explained that frontline positions offered vital insights into corporate operations and customer experience. Mr Gates went on to explain his reasoning for considering a customer service position at his daughter's startup: "I've spent a lot of time contemplating how technology can make systems more efficient, equitable, and accessible." "However, I've learnt over the years that talking directly to the people who use something is the best way to understand how something works," he added. Speaking about Phia's functionality, Mr Gates added that Pheobe and her co-founder Sophia Kianni have "built an app and browser extension" that makes shopping more intelligent by displaying "the best prices, surfacing secondhand options, and showing lower-impact alternatives" among thousands of online merchants. Concluding on an amusing note, Mr Gates wrote, "It's been inspiring to watch them tackle a massive challenge, rethinking the way we shop, by meeting users where they are... Hopefully, I won't break anything (no promises)." Phia is an AI-powered fashion shopping app, which uses artificial intelligence (AI) to analyse the costs of high-end new and used products from 40,000 websites. Earlier this year, Mr Gates said he was hoping to leave his three children less than 1 per cent of his fortune. On the ' Figuring Out With Raj Shamani ' podcast, he said the choices made by wealthy families about their legacy mostly depended on their own values. "It's not a dynasty, I'm not asking them to run Microsoft. I want to give them a chance to have their own earnings and success," Mr Gates said.
Time of India
5 days ago
- Business
- Time of India
Bill Gates' daughter Phoebe Gates is dating Arthur Donald: Here's who he is
When your dad is one of the richest men on Earth, your dating life tends to spark a little interest. That's exactly what's happening with Phoebe Gates, the youngest daughter of Bill Gates and Melinda French Gates, who's been quietly making headlines not for her startup moves this time, but for her relationship with none other than Arthur Donald — yes, that last name should ring a bell. Who is Arthur Donald? Arthur Donald may not have the paparazzi flash of a Hollywood star, but his lineage is iconic. He's the grandson of Paul McCartney — as in Sir Paul, the legendary Beatle. Arthur is the eldest son of Mary McCartney, Paul's daughter with his first wife Linda, and was born in 1999. He's got that cool British charm, a low-key vibe, and reportedly went to Harvard, where he majored in history. So yes, we're talking elite brains and Beatles blood — a combo that practically writes its own rom-com. Phoebe Gates: More than a billionaire's daughter If you've been following Phoebe Gates, you know she's not just chilling in billion-dollar yachts. The 21-year-old Stanford grad is a tech entrepreneur, fashion innovator, and rising voice in sustainable fashion through her AI-powered shopping platform Phia. Phia is Phoebe Gates' fashion-tech startup that blends sustainability with AI-powered shopping. Co-founded by Phoebe and her friend Sophia Kianni, the app is all about empowering users to make ethical, budget-friendly choices. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gold Is Surging in 2025 — Smart Traders Are Already In IC Markets Learn More Undo She's also been vocal about using her platform for social causes, women's rights, and climate awareness. Basically, she's got ambition, intellect, and the kind of grounded presence that screams 'I'm not here just for the inheritance.' Phoebe Gates confirmed the relationship recently Phoebe Gates made things Instagram-official, last year, with a sweet photo captioned, 'My boyfriend, Arthur, giving me a lift post-ceremony,' showing Arthur Donald playfully carrying her on his back. The dating buzz first kicked off back in October 2023, as per reports, when Phoebe shared snaps from her Paris trip on Instagram — and yep, Arthur was tagged in one of the pics and spotted in the background. That was enough to set the rumor mill spinning. Later on, the two were seen together at the 'Feud: Capote vs. the Swans' premiere, according to Page Six. And when asked about it in an interview? Phoebe played it cool and kept things private, offering zero details about her relationship status.
Hindustan Times
6 days ago
- Business
- Hindustan Times
Bill Gates, with over ₹1000000 crore net worth, works as customer support in this company
In a rare but insightful move, Microsoft co-founder Bill Gates recently spent a day answering customer service queries for Phia, a fashion-tech startup co-founded by his daughter Phoebe Gates and her Stanford roommate Sophia Kianni. Sharing the experience on LinkedIn, Gates wrote: 'When your daughter asks if you'd be willing to work a shift in customer service at her startup, the only right answer is yes.' Bill Gates and his daughter Phoebe(Instagram/@phoebegates) But beyond a fatherly gesture, the move offered a deeper message about modern leadership. 'I've learned over the years that the best way to understand how something works, or where it breaks, is to go straight to the people using it,' he added. Mobile finder: Realme 15 Pro launching in India today What is Phia? Phia is a browser extension and mobile app that helps users shop smarter. It uses artificial intelligence to compare prices across more than 40,000 online stores, including both new and second-hand options. Phia also highlights eco-friendly alternatives, catering to Gen Z's growing preference for sustainable and cost-conscious fashion choices. Describing it as a ' for fashion,' Gates praised the platform's effort to rethink online shopping while keeping sustainability at the core. Gates Steers Clear of Funding Interestingly, Gates has not invested in the startup. In an earlier podcast, he revealed that financial involvement would have pulled him too deep into the business, potentially influencing decisions that should belong to Phoebe and her co-founder. Instead, he chose to support them through mentorship and, in this case, by experiencing the front line himself. CEO Lessons from the Ground Gates joins a small but growing list of high-profile executives who have taken hands-on roles to better understand their companies. Uber CEO Dara Khosrowshahi, for instance, famously worked as an Uber Eats delivery driver during the pandemic. He later said the experience helped him uncover gaps in the driver experience that had been overlooked by senior management. Such moves reflect a shift toward 'leadership by doing,' where executives step out of boardrooms and into the trenches. According to a Harvard Business School study, most CEOs spend less than 10% of their time engaging directly with customers or front-line employees. Gates' one-day stint at Phia may have been brief, but it sends a strong message: to stay relevant and connected, even the most accomplished leaders must be willing to start from the inbox.
