Tech entrepreneur Ankur Jain, 34, has an estimated net worth of $1.2 billion, according to Forbes. Jain, a former executive at dating app Tinder, who still owns a 36% stake, launched his latest business, Built Rewards, in 2002. The service allows users to earn money by paying rent or buying a home, the New Yorker reported. post. Bild is currently valued at $3.25 billion.
The highly successful son of former Microsoft executive Naveen Jain, who briefly became a billionaire during the rise of his company Infospace before the dot-com crash, recently published an article in the Daily Mail. In an interview, he gave advice to aspiring entrepreneurs.
“Instead of recognizing opportunities, start with problems,” Jain told the British newspaper. “They are completely different things.”
“I think one of the most dangerous things that’s happened to entrepreneurship is that business school graduates are starting to become entrepreneurial,” he explained.
According to a former Forbes 30 Under 30 honoree, statistics, models, and a focus on creating new opportunities encourage young entrepreneurs to prioritize non-essential products and services. They say this often comes at the expense of consumers rather than addressing real needs.
“They’ve ignored the question of what real problems they can solve for people,” he says.
Jain highlighted Bild as an example of tackling a concrete problem and making it work effectively. “It’s the biggest expense, but it’s the most rewarding right now,” he said, referring to housing costs.
According to data from Bild, the average American renter spends about 30% of their income on housing each year.
Jain previously told the New York Post that hearing a $100 million pitch from a venture capitalist several years ago inspired him to found Bilt and focus on solving real-world problems. Any ideas? Sell virtual luxury goods on the blockchain.
“I’m thinking to myself, ‘We have the biggest housing crisis, health care, mental health crisis in this city… and you’re sitting here and you’re like, a digital Prada bag on the blockchain. You’re talking to me about stuff,’” he said.
“Not only were we facing big problems, but we were also missing out on big opportunities.”
