From Her Grandfather's Farm To An Amazon Acquisition

Key Concepts

• Problem Identification: Recognizing a significant issue through personal experience.
• Entrepreneurial Journey: The process of building a company from an idea to a successful exit.
• Artificial Intelligence (AI) & Computer Vision: Technologies used to solve the identified problem.
• Venture Capital Funding: Raising capital to support company growth.
• Acquisition: Selling a company to a larger entity.
• Identity and Entrepreneurship: The challenge of separating personal identity from a business role.
• Investing: A path to recovery and continued engagement after a business exit.

The Genesis of Part Pick: A Grandfather's Tractor and a Harvest Delay

The entrepreneurial journey discussed began with a personal experience: the speaker's grandfather's struggle to find a specific part for his farming tractor. This seemingly minor issue had a significant impact, delaying the harvest. The speaker's desire to solve this problem for their grandfather sparked a realization that this was a widespread issue affecting many others. This personal connection to the problem became the foundational motivation for developing a solution.

Building Part Pick: Leveraging Technology and Team

The speaker describes this realization as opening "a can of worms," leading to a journey of building, learning, and growing. A crucial aspect of this process was surrounding themselves with talented individuals who possessed expertise they lacked, particularly in algorithms and computer vision technology. A notable mention is Dr. Natalie Cphus, who served as the CTO. Together, they developed a solution that was considered "ahead of its time" in the realm of artificial intelligence and computer vision. This innovative technology ultimately attracted the attention of Amazon.

Acquisition by Amazon and the Post-Exit Transition

The company, Part Pick, was successfully sold to Amazon in 2016. Prior to the acquisition, the company had raised over $1.5 million, with the speaker clarifying that they actually "did over 2 million" in funding. Following the sale, the speaker experienced a period of depression, finding it difficult to leave bed. This was attributed not solely to the loss of the specific problem they were solving, but more significantly to the deep integration of their identity with their role as CEO of Part Pick. The aspiration for a "billion dollar exit" was also a factor, as is common among entrepreneurs.

Reclaiming Identity and Embracing Investment

The speaker emphasizes that the post-acquisition depression stemmed from their identity being "so wrapped up in being the CEO of Part Pick that I didn't even know who I was without that." This period required "healing" to understand that their worth as a person was independent of their corporate title. The speaker found that "investing is kind of part of the reason or part of what took me out of that depression," suggesting that engaging in new ventures and financial activities provided a path forward and a renewed sense of purpose.

Conclusion: From Problem Solver to Investor

The narrative highlights a powerful entrepreneurial arc, beginning with a relatable, real-world problem and culminating in a significant technological innovation and successful acquisition. It underscores the importance of leveraging technology, building a strong team, and the profound personal challenges that can arise from deeply entwined professional and personal identities. The journey from solving a grandfather's tractor part issue to becoming a key figure in an AI-driven company acquired by Amazon, and subsequently finding a new path through investing, illustrates resilience and the evolving nature of entrepreneurial endeavors.