[00:00:00] Guest: There's this unsaid sort of part of the story is where these immigrants make. And they're powerful and educated and doing incredible, incredible things in different, not just tech, but in like any domain possible. And we don't really share those stories. Right. So I wanted to kind of change the [00:00:20] narrative of immigrants in general.
[00:00:35] Matt: Constraints, Strive, innovation. Hey everyone, it's Matt here for another [00:00:40] episode of Thinking Inside the Box, a show where we discuss complex issues related to work and culture. If you're interested in checking out our other content, you can find us at bento hr dot. And wherever you find your favorite podcasts, by searching, thinking inside the box.
And if you enjoy the work we're doing here, consider leaving us [00:01:00] a five star rating, a comment and subscribing. It ensures you get updated whenever we release new content and really helps amplify our message. In today's episode, I chat with Pretty Aari consultant with Blue Ivy Ventures, a firm and community of Yale alumni, investors, [00:01:20] executives, entrepreneurs, and innovation enthusiasts that have raised over $1 billion and funded over 1000 unique investments.
Pretty's. Also the founder of the great Nepali diaspora, a global community of Nepalis that in just six months has grown to over 400 members and [00:01:40] 2000 global supporters with a strong presence in major US cities like New York, Boston, San Francisco, Chicago and Washington dc. The community now sets its sites ongoing global with an engaged network of experts and professionals of Nepali origin.
Pretty, and I connected on LinkedIn a few [00:02:00] weeks back, and I was knee deep in networking with individuals in the venture capital space. And as I was completing my due diligence, Pred quickly differentiate herself as a professional with purpose drive and a strong desire to reach underrepresented communities.
We chatted about her story from [00:02:20] Nepal to New York City, highlighted by stops in Singapore and Vancouver along the. And I really wanted to dig deeper into her motivations along with the inevitable trials and tribulations that culminated in the launch of the Great Nepalese diaspora. We discussed her views on the broader venture capital industry, what's changed [00:02:40] and what still needs to change, and I asked for her impressions regarding what makes today's entrepreneurs successful and what she looks for in organizations as a venture.
We ended with an important conversation regarding underrepresented communities and why their success is important for our collective wellbeing. [00:03:00] It was a real pleasure, a name with prey, and I hope you enjoy it. And now I bring you prey at Aari. That's actually a good starting point. Uh, feeling like you're talking to a friend is a great way to start a podcast, right?
Pretty, really happy to have you here today. It's nice to see you
[00:03:15] Guest: again. Thank you, Matt. Uh, happy to be here.
[00:03:17] Matt: So, before we get into the actual podcast [00:03:20] itself, I have a list of questions I've just been dying to ask you. Sure. Maybe you can just educate myself and our audience on your, who you are, your background, your experiences, and what led you through
[00:03:28] Guest: today.
Sure. I'm, I think I have a lot of different identities. Um, but one that's, uh, you know, uh, that we'll talk a lot about today is, uh, I'm originally from [00:03:40] Nepal, uh, but lived all over the world, um, in Vancouver. That's one of my, uh, you know, favorite places, Singapore, and now in the us. Uh, I've worked in a lot of different industries as well.
Anything from banking to non-profits, to energy to to tech startups, and now more and more into the VC world. [00:04:00] So I, I feel like I have such a non-linear, non-traditional career. Uh, but you know, when I look at it now, um, it seems like everything is connected. Everything in my life, uh, prior to this seems
[00:04:12] Matt: connected.
You and I have similar backgrounds in that they're not similar to any way. They're very disparate. Right. I'm curious [00:04:20] for you along that journey is, looking back, is there one particular thing that happened or a decision that you made that's surprising? In terms of where you thought you'd be and where you ended
[00:04:30] Guest: up.
I mean, I think a few things, right? Um, what I've realized is, I mean, I've heard people say that, um, you know what, sometimes [00:04:40] when you, uh, you know, find a job or when you're looking for a job, you don't, uh, it's not like you are trying to be very selective or choosy and so on, but you don't question it that much, right?
You go in like, even if sometimes, even if. Don't feel like you have the relevant experience, uh, or something like that. You go in to [00:05:00] learn and that sort of changes. You, you grow so much. Right. Um, so for, for me, uh, I think a turning point, uh, was, uh, you know, getting into an operations role for an, uh, AI company in New York City.
Um, that was about six years ago. And uh, that sort of, uh, changed a lot in terms. [00:05:20] Uh, you know who I am and you know, the kind of things I'm looking for. I mean, just to give you an example, right? I strongly, strongly believe that, um, good ideas are everywhere. Opportunities aren't right. Um, and especially when you are, uh, you know, for me, I'm part, you know, I came from a developing, uh, country, right?
[00:05:40] Very different world than North America and so on. But once you have exposure to both, you understand the disparities even more, right? And you also understand the responsibilities you. That, you know, you are one of the lucky ones, and your responsibility in a way is to give that access to more [00:06:00] people.
[00:06:00] Matt: Right. I couldn't agree with you more, and I do wanna talk about how you've embodied a sense of responsibility today. But before I get there, I'd love to go sta step in the back in the past. Sure. And just maybe walk us through the steps you took, because I know in speaking with you before, You started, of course, in Nepal, you've ended up in New York City, [00:06:20] but there was a lot of places in between.
Right. Um, I'm curious about what those steps looked like and, you know, as you, you know, where you find yourself now, again, looking back on those experiences, what led you to New York
[00:06:32] Guest: City? Sure. Uh, so, uh, I, uh, you know, did my high school in Nepal, um, and then came here for my [00:06:40] undergrad. Once I finished, you know, went back, uh, worked in banking for I think five years, and the plan was to do a masters MBA and so on through, you know, I've, I've shared that on LinkedIn, but through a strange twist, we, uh, you know, my husband and I, uh, we had originally planned to come back to the US and do our masters and everything, [00:07:00] but we ended up in Vancouver, uh, which was, you know, one of the best times of our life.
Spent about, uh, three years or so. And then it worked out in a way that for my mba, um, at ubc, I actually got to do an exchange program in Singapore and my husband, um, actually found a job there. So we [00:07:20] moved to Singapore. Spent five years there, five amazing years, and at that time I was actually working for a nep.
US company that had a branch in Singapore. Uh, so I, uh, used to spend my summers here, uh, in California. I love that experience. I think one of the things that I, you [00:07:40] know, keep on, uh, talking about is culture in a company and the comp, the company, um, it was later acquired by, uh, Bridge, but the original company's name is, uh, Market Matrix and this startup.
One of the best cultures I've seen in my life. And, you know, I've tried to emulate that in so many ways. But yeah, so, uh, [00:08:00] was in Singapore, uh, moved back to Nepal actually, uh, in 2014. And the company, you know, now we talk so much about remote work and hybrid work and so on. But, you know, so many years ago, the company actually allowed me to work completely remote, um, in Nepal.
Uh, we had planned to live there for a few [00:08:20] years. But the earthquakes happened. Uh, the crazy earthquakes in 2015, um, uh, happened in Nepal and it wasn't intentional, but it sort of, after that we moved, uh, to the. So a long, crazy way
[00:08:35] Matt: with many twists and turns, ways, many
[00:08:37] Guest: twists and turns, right?
[00:08:39] Matt: Yeah. [00:08:40] And you referenced earlier that one thing you're called to do is you have a greater appreciation and a lot of gratitude for being one of these.
You characterize it one of the lucky ones, one of the people who have been able to experience life in developing country and experience now life in North America. And you see the, the dispar. Access to [00:09:00] opportunities, and you've attempted to bridge that gap in your own way. Maybe talk to us a little bit about that, about the, what, you know, what you came up with, the origin behind it, uh, and where it's at today.
[00:09:10] Guest: Sure, sure. I mean, I think it started off as simple as, you know, because I, I'm in New Jersey, um, you know, and I've always worked in New York. [00:09:20] I love the city, how vibrant it is and how it makes everybody sort of feel at home. Right. Um, I host a lot of events and I attend a lot of events, tech related mostly.
And what I realized is, um, how. Easy it was to get connected, to have somebody hear your ideas, to have somebody support you and things like that. [00:09:40] Right. And I, uh, would often look back to, you know, my experiences growing up and so on, and we didn't have that. Right. And still like to, till today, it's such a harder thing.
It's such a hard thing for, uh, you know, if for a founder in New York City versus Nepal to, you know, Get validation, just [00:10:00] support. And you know, investment is obviously even more important. And so, I realized that so, so for me, the last couple of years in general has been about, okay, how do I use my global network, my experiences and help people who are not really here?
Right? So, uh, last couple of years I have [00:10:20] been advising, um, startups from around the world in terms of simple as getting, giving them feedback on their decks and you know, just giving them general advice to more, uh, targeted things in terms. Trying to connect them to investors here and so on. Um, so that had been going on, uh, in the background for a while.
And then what I also [00:10:40] realized, I'm obviously from Nepal and, you know, connect to the dipo of Nepal. But you know, if you look at, uh, communities from around the world, right? There is this sense of this narrative, right? That which is true, but partially true, I think. Right? Where, you know, everybody [00:11:00] comes here with $20 in their pocket struggles, makes it, and so on, which is amazing, right?
I mean, which, which I love. But then there's. Unsaid sort of part of the story is where these immigrants make. And they're powerful and educated and doing incredible, incredible things in different, not just tech, but in like any domain [00:11:20] possible. And we don't really share those stories. Right. So I wanted to kind of change the narrative of the immigrants, you know, the of immigrants in general.
One was that. And two, what I realized was, you know, just for the Nepali diaspora, uh, we are great at, you know, connecting socially, right? I have amazing friends, [00:11:40] family, and I, you know, love everybody. But what I realized more and more is like, we never talk about professional things. We never say, Okay, I'm struggling in this, this is what I'm trying to do.
This is where I'm looking for partnership and so on for some reason, right? I don't know if it's cultural or so on. But, you know, I realized that that was such [00:12:00] a missed opportunity, right? So one is just in terms of, uh, on a, on an ongoing basis, just this lack of mentorship and, you know, this platform and so on.
But then also, you know, looking back at. Disasters and, and so on. Right? So one of the things, uh, during Covid, I had gone back to [00:12:20] school. I went to Yale, um, and I had joined a nonprofit. And the whole reason was, you know, Covid was creating havoc all over the world. And, you know, my mom actually got it. And, you know, there was, you know, a lot of things that was happening and I wanted to be part of the solution.
Some. So I joined this [00:12:40] non-profit because they had started this big mask project. Uh, you know, Stanford and Yale doing amazing stuff around the world, reached a hundred million people and so on, right? And I led, uh, some of their work in Nepal and some Asian countries, and I again realized that. Everybody wants to help.
Everybody is trying really [00:13:00] hard to help, but we are not talking to each other. There is no central place to say, Oh, you know, math is working on this. Math skills are this, Pret is working on this. This is like, you know, this is complimentary. Or this is somewhere where they're duplicating, right? You can look at, um, you know, there must be some stats from, you know, all over the world where, you know, when [00:13:20] disasters hit, there's such a wastage of resource.
In trying to, you know, in trying to do something good, something helpful, right? So I always felt like we could do better, even in terms of for good and you know, when something good happens and some, when something bad happens in terms of being connected and so on. So started putting my [00:13:40] ideas out there and a couple of months ago, I think around August, I actually just started a community.
It's called the Great Alpo, um, you know, corny, cheesy, long name. But, um, it sticks. Um, and it's, uh, the response has been amazing. Uh, people from all over the world have, have responded. They like, you know, there is so [00:14:00] much demand for it. So we've grown exponentially. Uh, we've hosted events, uh, you know, all over the world.
And yes, it's, it's exciting.
[00:14:11] Matt: Hey everyone, it's Matt here. I hope you're enjoying today's discussion. And before we continue, I want to make you aware of my latest creative project this [00:14:20] week at Work, presented in partnership with my good friend Chris Rainey of HR Leaders. Each Friday will live stream on LinkedIn at 7:00 AM Pacific Standard.
That's 10:00 AM Eastern Standard Time and 3:00 PM GMT for our European viewers. And together bringing the latest trends, news on topics [00:14:40] emanating from organizations, everything from culture to technology, and the future of work. Joining is easy. Just follow me on LinkedIn. Click the bell at the top right hand side of my profile and you'll get notified when we go live each.
And whether you do experience the content live or later, if you've been following me for a while, you'll no [00:15:00] doubt recognize the fun banter Chris and I have developed over the years and whether it's been podcasts or digital event. We're so excited to, again, bring you the topics affecting today's workplaces and their leaders.
And now back to our discussion.
What does your role look like in shepherding the great Nepalese [00:15:20] diaspora today? A few
[00:15:21] Guest: things, I guess, right? One, I. I actually tried to find a platform that already exists, didn't find it and just started it. Right. Uh, but I was very intentional in terms of few things I wanted to build in public, right? Um, because I never think of myself as the [00:15:40] smartest key person in the room, and that I know all the answers and, you know, here's a product and, you know, take it or leave it.
Right? I knew that this was for, for nep. For, or any immigrant community, I think we need to unlearn a lot of things, right? In terms of who we are, how we share information, how we almost network, right? So [00:16:00] I knew that I wanted to be very fluid in terms of that and really shape it. Um, so it is, uh, very much driven by the community and so on.
So my role now is to be. Almost like a guardian and supporter and everything. And my, you know, one of my goals is to have this army of, I call them [00:16:20] champion, uh, you know, empowered champions. People that, you know, raise their hand and say, Okay, this, I wanna lead this, I wanna do this, and so on. So I hear instead of being, you know, I feel like, uh, top down, I feel like it's, uh, bottom up in so many ways and I'm just there to.
Make it
[00:16:38] Matt: happen. And what have been some of the success [00:16:40] stories you've seen
[00:16:40] Guest: along the way? I mean, just in terms of numbers, I think we're, uh, in just two months, almost at 500 members. And that's just informal. There's, uh, you know, our LinkedIn page has just been exploded. It's over 2000, uh, followers and so on.
We've posted events. Anywhere from me. So New York, Boston, [00:17:00] Seattle, Chicago, Vancouver, hosting now in, uh, Dubai and Singapore. Uh, we've hosted, uh, you know, expert sessions. We've hosted, uh, pitch events for entrepreneurs and so on. So within a few months, I think it's just taken a life of its own. So, I mean, I think the best thing for, uh, frankly, [00:17:20] has been.
Not me, but the network of experts and doers that we've been able to collect, right? Every single person. Has achieved something like, something amazing in their life, right? And they want to contribute. So it's like this engaged group of people who are so, who so wanted to contribute [00:17:40] to, uh, Nepal in some way and they were looking for a common platform.
And we've actually found that, and it's. It's,
[00:17:47] Matt: it's magic. I, I couldn't agree with you more. And it's really exciting to see people to come together. You referenced this earlier, venture capital has a reputation for not always being the most inclusive of the industries. Right? [00:18:00] And there certainly is a fair argument be made that underrepresented groups.
Have been particularly underrepresented when it comes to the finance sector, venture capital. You know, you've been in the industry for a long period of time. You've obviously seen it from a number of different vantage points. What are some of the changes that you've seen shift in the last, even just three to five years, and perhaps [00:18:20] has the great Nepalese diaspora been able to benefit from some of those changes?
[00:18:24] Guest: Sure, sure. There have been some changes, right? I mean, now you see more and more funds and LPs being intentional in terms of really supporting, whether it's emerging fund managers or uh, underrepresented founders and so on. So you see that, but [00:18:40] sometimes when you look at the reports, right, uh, you know, uh, the percentage of funds that women entrepreneurs get or African American founders get, that's like crazy.
It's. Sad, I think. Right. Very unfortunate in, in that sense. Um, what I do think is sometimes, I mean, I think the ideal world I see is there, [00:19:00] uh, should be entrepreneurs and investors from every part of the world, right? Because you need somebody that sort of understands the, the local nuances and the the contextual things and so on as well.
Right? I remember this conversation I had recently. With an investor and we were talking about somebody's [00:19:20] accent as simple as somebody's accent, right? That would, that might actually turn off, uh, you know, a traditional investor, right? That, and everybody's busy. I'm not saying some, you know, people are biased against it, but you know, when you have a hundred different appointments and so on, you, you might be, More willing to, I don't know, uh, give somebody that, you [00:19:40] know, speaks really well, is confident and so on.
We give a lot of points for that. Right? But then, you know, for me, I, I, I obviously look at the numbers and everything, but I also look at where that person is coming from, right? I mean, if there is an entrepreneur from Nepal, they, I'm completely fine if they speak to me in Nepali and explain a few things, [00:20:00] right?
But it doesn't hurt them in any. Back to your question, there is obviously a positive shift in so many ways, but more needs to happen, right? And we need to fund more women, more minorities. So with, with the community, one exciting thing is also I'm building a seed stage, uh, VC fund, uh, to fund Nepali entrepreneurs.
[00:20:20] But it's not just, you know, my fund, but I'm hoping. More and more funds from around the world can see the potential of places like Nepal. Not just Nepal, but places like Nepal that have incredible founders that have the drive and the skills and everything. And, and then we'll see unicorns from every corner of the world, hopefully.
That'd
[00:20:39] Matt: be [00:20:40] wonderful. As somebody who's traveled extensively, uh, throughout my adult life, I can absolutely appreciate the sentiment that there's pockets of genius and creativity and, and magic in all parts of the world, right? And oftentimes those voices are silenced or they just get drowned out and all the other noise happening in other places, and clearly the opportunity.[00:21:00]
Present, you've grown so quickly. Just a short period of time. There's this pent up demand in terms of people who are trying to access relationships and access opportunities. You know, as, as you meet people in your, you know, walks of life and talk to investors and potential organizations. I'm curious, have you been approached by any other people who are interested in building up [00:21:20] their own fund and, and perhaps starting their own group around underrepresented communities?
Um, you know, have you, do people reach out to you on LinkedIn or at events, You know, what has that been, or has it been primarily people interested in being part of the diaspora to begin with? Right.
[00:21:35] Guest: I mean, it's, it's a mix of. All kinds of people right there. So [00:21:40] apart from people of Nepali origin and so on, there is, uh, obviously a lot of synergy with other types of diaspora, right?
I mean, uh, we've actually hosted events with, um, the Greater South Asian diaspora. And one of the things I'm really con uh, also intentional about is forging partnerships with other [00:22:00] communities, right? I mean, Some value in being really focused and specific and, you know, niche, but then there is a value in terms of, uh, you know, joining hands with, you know, other communities and so on.
And there, you know, we have a lot of shared experiences, um, with other communities, right? Whether it's cultural, whether it's regional, [00:22:20] or just in terms of our lived experiences. Outside our home countries. Um, so there is, you know, obviously a lot of synergy and we are, uh, you know, trying to, you know, build those bonds.
I think, you know, I think if we can amplify each other's voices, it, it, it's always helpful, right? Um, so, so [00:22:40] for me, like I'm always there to support, whether it's investors or startup founders and so on. Belong to any category, right? It's not, uh, because when, when you lift other people up, it's, you know, it helps all of us, right?
So in terms of that, uh, you know, definitely there, um, in terms of [00:23:00] people reaching out, yes, there are people that sort of want to do their own thing as well. Um, uh, so even within the net community, there are people that are sort of building, not similar, but there is like they're working with a sub segment and so on.
So, uh, what I'm trying to do is, you know, advise them and support them in [00:23:20] some way, right? Because there, I think there is a place for everyone, right? It's just where you sort of end up on. But, um, I think collaboration, um, is, is the best way to go.
[00:23:32] Matt: I couldn't agree with you more. I think we're so much more powerful when we link arms and support each other when, as opposed to that scarcity [00:23:40] mindset where Right.
We don't have a sense of collaboration or teamwork. Exactly. You know what, I'm curious for you, as you look forward at the Great Nepalese diaspora, what do you see in its future in the next 12
[00:23:52] Guest: months? What do I see? Uh, I see us doing incredible, incredible stuff. You know, when, when we [00:24:00] launched, I actually said that I wanted to be like a.
You know, I want to have multiple use cases for the diaspora. Right. And we are seeing that there is obviously a focus on, uh, the startup ecosystem and, you know, the, the investment side of things and so on. But in terms of, even in terms of whether it's networking or [00:24:20] mentorship or just thought leadership, I feel like there's going to be, there's so much potential in terms of, you know, what's going to happen and, and for me, I feel like this is just the foundation, right?
What I'm excited about, like most excited about is the kind of things that will spin off from this, right? The, the [00:24:40] kind of collaborations people will do. The kind of amazing things that are going to happen from here. The leap from here. Super exciting. So, so for me, I feel like we are just, you know, uh, at the tip of the iceberg for now.
[00:24:54] Matt: That's really exciting and it's exciting that you're so open and flexible to having the vision [00:25:00] evolve in so many different ways and to making it a truly community effort is gonna just propel its success and, you know, be curious to catch up with you along the way to see how it's evolved and how it's gonna be.
Fantastic. I wanna take a step. Because in addition to your work with the Great Nepalese diaspora, you, as you mentioned, have done a lot of work in the venture capital community on multiple different [00:25:20] perspectives. And we referenced earlier how that industry has incrementally shifted, but for the most part has stayed true to its roots, right?
A lot of the work that you do is you scout companies, you look for opportunities to connect really great founders to access to capital investment or relationships or [00:25:40] expertise. And I'm curious through that lens, through the lens of a venture capital scope, have you seen the types of companies that you're looking to engage with shift?
Have you seen differences in the founders who lead those companies in the last few years? And if so, what do some of those differences look like? Sure.
[00:25:59] Guest: I [00:26:00] guess a few things. I mean, one, uh, which has been really exciting to see is, at least in the beginning, what I, what we all think our startup founders are.
You know, they, you know, they're in college. They either drop off or whatever, right. They start off in a garage and you know, and we have obviously a lot of success stories from that. Right. To me, [00:26:20] it is really exciting to also see is a lot of people that have. Domain expert. They're domain experts, right?
Whether in healthcare or finance or whatever. They have 15, 20 years of experience. And then they go in, they build their own stuff, which is, which is nice, right? So it's, I mean, I joke, uh, it [00:26:40] is about the founders. I advise that, you know, um, being a founder is almost like the new midlife crisis, right? But in, in a great positive way, right?
That there are people, That are taking their life's work and just building something, and I'm so, so supporting them because [00:27:00] it's like so exciting to to see, to see that journey. So in terms of where I've seen a shift, uh, so, so for me, like VC has been this. You know, I've always helped companies, uh, grow and scale, and what I realized more and more is capital is such a big part of it, of course, Right.
Um, because it sort of [00:27:20] changes the direction of a company, you know, in a way changes if a company is successful or not, right? I mean, there are really good bootstrap companies as well, but there is, there definitely, you know, value that. Oh, you know, VC money can bring. Um, so I've been really trying to understand not just the VC world, but what are the [00:27:40] nuances of it, Right?
If you look at the, the eco VC ecosystem in general, there are so many one, uh, firms, and two, the, the types of things they're doing. Right, Because there's a difference in terms of if they're, you know, what state are they going into? Are they leading or not? You know, are they [00:28:00] co-investing or not? I mean, so there's, and even, there's obviously more, uh, differences in terms of sector and so on.
So my experience with, uh, you know, all these amazing companies, uh, you know, through fellowships and so on, has been really trying to understand how they. Which is, you know, we would think that they, everybody thinks the same way. They don't, uh, because [00:28:20] it's, uh, you know, so it's, it's crazy, right? It's like, uh, but somebody that's, uh, you know, that wants to lead is very, obviously very aggressive.
They're sort of, you know, thinking in a very, sort of, uh, the way they do due diligence is very different than somebody that's co-investing and they just want to sort of be a part of it, right? So, [00:28:40] Again, there's a place for everybody there, but there's a different way of thinking, and I think the reason, uh, That I want to use all of that, all of that sort of learning, you know, trying to from, from VCs is because for a founder, especially a first time founder and especially an underrepresented founder, they have no clue [00:29:00] how people think.
Right? So, so for them it's like, okay, they need money. And do they just, you know, cold email people or they do, they just send people message on LinkedIn and they don't even know where to. It is such a black box, especially when you think about, uh, you know, founders, first time founders, right? It's [00:29:20] just this, they have no clue and they don't even, sometimes for, for most people, they don't even realize that, uh, they have to really look at people that, you know, invest in that stage, invest in that sector, and so on, right?
So there is this big component, uh, that's been missing in terms of really handholding, uh, [00:29:40] founders really educating. In a way, Right. I think that's, that's been, uh, such a missing part. Um, I mean in terms of who gets funded and so on. I mean, of course, uh, you know, everybody does the due diligence, the numbers matter, the, the team component.
All of that matters. But I feel like just even getting there, I [00:30:00] think there needs to be, you know, more, I think support in terms of that. Right. And one of the things I also strongly believe is, You may or may not invest in that company, but there is definitely a way you can support them, right? Which could be, you know, [00:30:20] if it's relevant in introduce them to somebody else or suggest give them feedback that actually makes sense.
That's helpful to them, right? So, so for me it's in this space, it. Obviously a lot of, always a lot of moving parts, especially, uh, you know, factors like the [00:30:40] recession or with covid and so on. There's always a lot of variables going on. But I think the, what the basics are is that, uh, you know, it's founders need support more than anything else.
I strongly believe that, and I think just, just like I said in terms of that transparency and communication. The diaspora. I think there needs to be [00:31:00] more collaboration and communication between VCs as well. Right? Because you know, somebody that is not a, a startup that's not relevant for you might be the best thing that could happen to another one.
Right? So there is there, I feel like there can be more sort of collaboration on that front. I
[00:31:17] Matt: think you're right. And I had a [00:31:20] shiver of ptsd when you mentioned founders who go through midlife crisis , uh, that that rings true on a number of fronts, not the least of which was, I think entrepreneurship for me at least, was.
An opportunity to grow as a person in a way that I knew I wasn't gonna be able to inside the four walls of an [00:31:40] organization where exactly I kind of mastered the art of the corporate world, where whether it's playing politics, whether it's getting, um, influence. You spoke earlier about. We disproportionately recognize people who are good at presentations and communication, and I certainly benefited that at multiple times throughout my [00:32:00] career and at the same time.
Being an entrepreneur comes with a far greater sense of responsibility to yourself, to others. And as you grow your team, if you're lucky enough to grow your team right, you gain a sense of responsibility for their success as you, as you continue to grow and evolve. And one thing I [00:32:20] definitely underestimated in the transition from corporate world into entrepreneurship, despite the fact that I'd received this feedback no less than a hundred times, was the success.
And or lack of success in a lot of cases with entrepreneurs is directly tied to the success and or lack of success of the founder that begins with it. And [00:32:40] every organization takes on their personality of their founder. Of course. And what I love about your story is that yes, the numbers have to make sense.
We're not talking about making it unwise investments. That's not fair to the venture capital firm. That's not fair to the founder either. Exactly. And it's an acknowledgement. Beyond the numbers, [00:33:00] beyond the due diligence in terms of financials, there's a due diligence that has to occur around is this person or are these individuals collectively the right people or the right person?
To bring this idea to some form of reality. And the fact that you acknowledge that I think is great, and the fact that you spend a lot of time fostering and nurturing, that's [00:33:20] fantastic. And I think to your point in particular with underrepresented founders, that's an area of opportunity. The numbers could be universal, but it's the cultural nuances of working with different people.
That becomes the real headwind then. You know, I'm so glad that you mentioned that, cuz to me that was the, the fascinating piece of your story is the ability to [00:33:40] bridge essentially multiple worlds together and, and bring the best of each of those to each other. Right. I'm curious what venture capital can learn from the great Nepalese diaspora?
[00:33:52] Guest: Oh wow. , um, I guess one, uh, is [00:34:00] to look for, uh, diamonds in the. Right, Because it's so easy to just, just have this herd mentality and just, you know, follow the hike machine, so to speak, sometimes, right? I mean, but then there are all these unexplored places, not just outside the us right? Even [00:34:20] within the US I think there are so many underserved communities and so on that are where people.
Doing amazing things, you know, building, uh, you know, startups to solve real world problems, but they're not seen, right? So I think, uh, that, uh, lack of [00:34:40] visibility I think needs to change. Right. Um, so just in terms of the, the community, the diaspora, what I'm trying to do is showcase. People, Right? Showcase people of every domain, every expertise, every age and gender within the community.
And I think just in terms of the VC world as [00:35:00] well, I guess that's what we want to see, right? Uh, we should have more people not just questioning why women founders just have this percentage of, but some doing something about it. Why can't we change it? So, so for me, I think in general, this community has just been about [00:35:20] action more than just talk, right?
Instead of saying, Oh, why doesn't this exist? I'm building it, right? So what I want the VC world to also do is instead of just saying, Oh, this is, you know, minorities don't get funded, like, like, why don't we do something about it? I mean, and I love, I mean, I'm not saying it hasn't been there, you know, every, every day on the [00:35:40] newsfeed, I'm.
Apart from crazy news in the world, I also see so much positive news and, you know, people banding together and really having this advocacy sort of thing as well. So it's exciting. I, I just feel like we could do
[00:35:54] Matt: more. I also know that feeling really well. There's always a sense that you can do more and it, there's truth [00:36:00] in it.
And I just want to take a step back again and just talk about what's been accomplished because, you know, I read a recent article, I think it was an Ink, it might have been Forbes. I'll put the link. Podcast show notes that spoke to the fact that since 20 18, 50 5% of billion dollar startups in the US were founded by immigrant.[00:36:20]
The momentum is absolutely carrying on, and we've talked a lot of things on this podcast, whether it's diversity, equity, inclusion, and belonging, whether it's the importance of leadership and treating your employees with respect, whether it's the, um, the fact that we're a knowledge based economy and that we need to treat people as individuals and support them as [00:36:40] opposed to exploit them and, and leverage them.
We share those things because it's the right thing to do as is providing opportunities to underrepresented communities. It's also really good business. Like it, it makes strong financial sense and yes, I'm, I'm, I am cherry picking a number here, but my, the number does speak to broader [00:37:00] momentum in so far as, There's absolutely been over the last five to 10 years an explosion in immigrant founded businesses.
Not only in the United States, but here in where I'm from, Canada. Right. And it's really exciting to see people have access to opportunities and to your point, there's still so much more work to be done. So of [00:37:20] course, you know, pretty, as we look forward, I'm absolutely gonna put in all your information into the podcast show notes as well.
Thank you. For folks that want to connect with you, what's the best way to. I
[00:37:29] Guest: think LinkedIn works best.
[00:37:31] Matt: Okay. We'll make sure I put those podcast, uh, details in the show notes. Thanks so much for connecting today. I always enjoy our conversations and I'm looking forward to the next one.
[00:37:39] Guest: Likewise, [00:37:40] Matt, this is awesome.
Thank you.
[00:37:50] Matt: N O HR is a digital transformation consultancy working at the intersection of strategy, technology, and people operat. We partner with organizations, [00:38:00] private equity and venture capital firms to accelerate value creation and identify the organization's highest leverage initiatives. And this can take place in many forms from strategic planning and alignment to technology, procurement, implementation, and integration, along with organizational design, reengineering and change [00:38:20] management.
With our proven track record of working with complex high growth organizations, we provide a lens that goes beyond the balance sheet, increasing enterprise readiness, resilience, and value. For more information, check us out@bentohr.com.[00:38:40]