Microsoft Corp. co-founder Bill Gates says he is glad that his daughter Phoebe Gates never asked him to back her business, noting that it could have complicated their relationship.
What Happened: In an interview with the New York Times, Bill Gates mentioned that while he would have supported Phoebe’s business, it would have involved certain conditions that might have complicated their relationship.
"I would have kept her on a short leash and be doing business reviews, which I would have found tricky, and I probably would have been overly nice, but wondered if it was the right thing to do. Luckily, it never happened," he said.
Phoebe launched Phia on April 24, a platform that provides price comparisons for clothing across 40,000 sites, aiming to offer users the best deals.
Phoebe, who graduated from Stanford in 2024, shared on her podcast “The Burnouts” that her father was initially hesitant about her entrepreneurial ambitions.
Dropping out of college, unlike her father, was not an option for her. Despite feeling like a “nepo baby” during her freshman year, Phoebe has secured over half a million dollars in funding from venture capitalists and angel investors, as reported by The Times.
See Also: TRUMP Meme Coin Surges 15% As Organizers Clarify Participation Rules For Gala Dinner
She acknowledged the advantages her family background provided but also emphasized the internal pressure she feels to succeed. Phoebe and her cofounder, Sofia Kianni, believe their business taps into a significant market, catering to young women seeking the best clothing deals online.
Why It Matters: The launch of Phia by Phoebe Gates comes at a time when her father, Bill Gates, has been vocal about the transformative potential of technology.
In a recent discussion, Gates predicted that artificial intelligence will revolutionize industries, potentially altering the future landscape for his children and grandchildren. This context highlights the importance of Phoebe’s venture, as it aligns with the broader technological shifts her father envisions.
Moreover, the Gates family has been in the spotlight due to Melinda French Gates addressing criticism from prominent figures like Elon Musk regarding her philanthropic work.
Bill Gates himself faced skepticism when he left academia to start Microsoft, as recounted by his former Harvard professor.
Read Next:
- US Treasury Hits Record $15 Billion In Customs And Excise Tax Haul Amid Trump’s Trade Policies
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Alexandros Michailidis On Shutterstock.com
