Serial entrepreneur Naveen Jain asked for the moon, literally, and got it. His is a typical rags-to-riches story. Brought up in poverty where even getting a basic education was difficult, today Jain is amongst the most successful Indian-born Americans.
He shared some thoughts on his latest venture, Moon Express, a lunar transportation and data services company, with Peerzada Abrar and of its relevance at a time when the human race is heading to be a multi-planetary society.
Poverty teaches a lot
I grew up in India and we never had a place we could call home. We never got to live in one city for more than six months to a year. We were very poor - sometimes we had food to eat, sometimes we didn't. This was because my father worked in the public works department and refused to take bribes.
His unwillingness to accept bribes did not go well with his bosses who used to transfer him. This happened at very frequent intervals - sometimes twice a year - and to remote places. My early education was mostly in schools that rarely had any tables or chairs.
Despite this, I joined IIT, did MBA, my sister was able to do her post doctoral studies in mathematics and my brother did his Phd in statistics and computer science. I was hired by Burroughs and went to US for a year for training with just $5 in my pocket.
Trust your instinct
I was able to foresee breakthroughs in technology and build companies around it. I kept thinking about why people carry mobile phones and palm pilots. I dreamt of the day when we could merge them all. You will be able to get your emails, content, calendar on the same device.
I started InfoSpace in 1996, which provided instant information on cellular phones and other mobile devices. People thought it to be a crazy idea at first.
I made the idea public in 1998 and by the end of 1999, the company was worth close to $35 billion. This taught me the crucial lesson that if you believe in something, although there may not be a visible market for it, the effort is worth pursuing.
Entrepreneurs don't retire
After 2002, I wanted to retire - a phase that lasted for seven days. Boredom struck and I wanted to do something creative. I called a couple of my friends and started a company in January 2003 called Intelius, which provides information services. Everybody thought that information on the internet was free.
But we knew that people were willing to pay if we help them solve their problems. We have now over 20 million customers at Intelius and are doing $150 million in revenues. Through Intelius, we opened the doors for millions of Americans in background and criminal records search.
Be futuristic
Thinking must not be limited to the present. A futuristic approach always pays. I believe the human race will become a multi-planetary society. People will live on the moon, Mars and Earth.
At Moon Express we are now actually sending a moon lander in the next two years. It will send stuff such as scientific instruments, your DNA or your pet's DNA, souvenirs, photos and even be able to write wedding proposals on the moon. We also aim to bring stuff such as platinum to Helium-3 back to earth, which can solve our energy problems.
Source: Economic Times
He shared some thoughts on his latest venture, Moon Express, a lunar transportation and data services company, with Peerzada Abrar and of its relevance at a time when the human race is heading to be a multi-planetary society.
Poverty teaches a lot
I grew up in India and we never had a place we could call home. We never got to live in one city for more than six months to a year. We were very poor - sometimes we had food to eat, sometimes we didn't. This was because my father worked in the public works department and refused to take bribes.
His unwillingness to accept bribes did not go well with his bosses who used to transfer him. This happened at very frequent intervals - sometimes twice a year - and to remote places. My early education was mostly in schools that rarely had any tables or chairs.
Despite this, I joined IIT, did MBA, my sister was able to do her post doctoral studies in mathematics and my brother did his Phd in statistics and computer science. I was hired by Burroughs and went to US for a year for training with just $5 in my pocket.
Trust your instinct
I was able to foresee breakthroughs in technology and build companies around it. I kept thinking about why people carry mobile phones and palm pilots. I dreamt of the day when we could merge them all. You will be able to get your emails, content, calendar on the same device.
I started InfoSpace in 1996, which provided instant information on cellular phones and other mobile devices. People thought it to be a crazy idea at first.
I made the idea public in 1998 and by the end of 1999, the company was worth close to $35 billion. This taught me the crucial lesson that if you believe in something, although there may not be a visible market for it, the effort is worth pursuing.
Entrepreneurs don't retire
After 2002, I wanted to retire - a phase that lasted for seven days. Boredom struck and I wanted to do something creative. I called a couple of my friends and started a company in January 2003 called Intelius, which provides information services. Everybody thought that information on the internet was free.
But we knew that people were willing to pay if we help them solve their problems. We have now over 20 million customers at Intelius and are doing $150 million in revenues. Through Intelius, we opened the doors for millions of Americans in background and criminal records search.
Be futuristic
Thinking must not be limited to the present. A futuristic approach always pays. I believe the human race will become a multi-planetary society. People will live on the moon, Mars and Earth.
At Moon Express we are now actually sending a moon lander in the next two years. It will send stuff such as scientific instruments, your DNA or your pet's DNA, souvenirs, photos and even be able to write wedding proposals on the moon. We also aim to bring stuff such as platinum to Helium-3 back to earth, which can solve our energy problems.
Source: Economic Times
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