Alex Banayan, a 24-year-old who was named the world’s youngest VC by Business Insider when he was 19, shared his entrepreneurial strategies and stories in a question-and-answer sponsored by Harvard Ventures in 2015. He told his audience to pursue the ideas that inspire them.
To overcome failure, Banayan advised people to keep trying. He said that people should expect to fail many times if they are really doing big things. According to him, the opposite of success is apathy; not the failure.
Banayan’s VC career started in his freshman year at the University of Southern California. His idea was to write a book in which prominent people gave advice to next generations of entrepreneurs. Two days to his final exam, he got a ticket to the show “The Price Is Right.” Fortunately, he won a sailboat and sold it for $20,000. With the money, he started working on his book. He used the contacts and experiences he gained through writing to earn a job at VC firm Alsop Louie Partners when he was 19 years.
From his own experience, he urged young people to see their youth as an asset. He also added that being in college is an advantage because colleges have many smart people.