Billionaire founder Lucy Guo started out making money on the playground
Lucy Guo is the founder and CEO of Passes.
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Serial entrepreneurial billionaire Lucy Guo shared that growth with frugal parents has motivated it to start running from the first days of childhood.
The thirty -year -old was recently chosen as Forbes’s youngest billionaire. The first job, Scale AI, was purchased by the technology giant Meta with an agreement that values AI data labeling company $ 25 billion.
The young entrepreneur is currently the founder of the Creator of Money Making Platform transitions, which is currently released in 2022. He also founded Backend Ventures, a venture capital company that invests in early -stage technology initiatives in 2019.
Guo’s roots return to California, where Fremont, where he grew up with Chinese immigrant parents.
Guo, CNBC Make It. “I think my family has always emphasized the importance of education and money, so I had to have good academicians on the education side.”
This led to reading computer science and human-computer interaction at the University of Carnegie Mellon, but two years later, it was horrified by education-oriented parents. There’s only one year to complete his degree.
“Them [parents] He sacrificed everything to migrate from China to America to give his children a better future, and education gave them everything they had in life, and he was like a slap in his face to suddenly leave their education when their children were over. “
Instead, GUO decided to follow the Thiel Scholarship, a program initiated by Peter Thiel, a billionaire founder of Paypal, offering $ 200,000 to establish innovative companies for young people.
“I think they [parents] When I chose to optimize it as a sign that I didn’t like them, and when I chose to optimize for what I think would be a better future for myself, they were not very satisfied. “
Making money in the playground
Being an entrepreneur was a natural way for Guo, who had already rushed in primary school and seeks ways to make money. His family directed a ‘very frugal life’, dedi he said.
“But they always stressed that money is important, so I will find ways to make money in the playground.” He said. “I used to imitate Pokémon cards and then sell. I would sell colored pencils I could find.”
Guo’s parents were strict and he took his money if he didn’t behave. Thus, in the second grade, Guo went to Guo Home Depot and bought a debit card and opened a paypal account to store his money.
Over the years, efforts to make money progressed. The fan of the Neopets game, virtual neopet creatures and in -game Neopoints went to the forums to sell the currency.
“Rare pets, rare items will buy and sell for real cash,” he said.
When he discovered engineering and coding, he began to make boots to cheat and sell in a game.
“Then I started to find other ways to make money on the internet for making websites using Google Adsense, then creating internet marketing tools … Just from there, snowball.”
‘The only entertainment I could have was on a computer’
Guo said his success developed from his passion for video games that are interested in computer science.
“I think I’m a quite social person, but I spent all my time growing on computers because I’m not really wonderful or not being social.” He said. “The only entertainment I could have was on the computer.”
He said that children who spend time playing video games are often trying to understand how it would be better in the game.
“Why are video games study the computer science of these students … The same thing happened for me, ‘How can I create my own game? How can I be[come] Is this better in this game? ‘”
“I think if I was more cool at school and was allowed to hang out with my friends and allowed me to do sports, things would look different.”
Guo’s entrepreneurial spirit instead of Forbes’s billionaire ranks instead of him – but some attempts examined.
Recently, a class case was filed against Guo and his company Passes, and the child claimed that the child had distributed sexual abuse material to subscribers.
“As explained in the dismissal movement opened on April 28, Mrs. Guo and Passes categorically rejects the unfounded claims made against them in the case, which rejected only 15 million dollars of payment in the case,” Passes said. He said.
New York -based case company Clark Smith Vilazor, who filed a lawsuit against Passes, has not yet responded to CNBC’s request for comment.
