Summary:
Team building is crucial for startup success, as advised by Bill and Melinda Gates to their daughter Phoebe.
Phoebe Gates co-founded Phia, an AI-powered fashion-tech startup, which raised $8 million in seed funding.
The startup has attracted over 500,000 users and partnered with 5,000 brands since its launch in 2025.
Melinda French Gates did not provide funding, emphasizing the importance of external validation and learning from rejection.
High-profile investors include Kleiner Perkins, Hailey Bieber, and Sheryl Sandberg, focusing on women in leadership and problem understanding.
The Power of Team Building in Startups: Lessons from Phoebe Gates
Before launching her $8 million startup, Phoebe Gates sought advice from her billionaire parents, Bill and Melinda French Gates. Instead of focusing on money, they emphasized that your team is what makes or breaks a product's success.
Phoebe, the 23-year-old daughter, shared in an interview with Fortune's Term Sheet podcast that the people you choose to build with daily—from co-founders to interns—define whether the product succeeds. She realized this firsthand while working on Phia, a fashion-tech startup she co-founded with her Stanford roommate Sophia Kianni.
Since its debut in April 2025, Phia, an AI-powered shopping assistant, has attracted over 500,000 users and partnered with more than 5,000 brands. The startup raised $8 million in seed funding led by Kleiner Perkins, with high-profile investors including Hailey Bieber, Kris Jenner, Sheryl Sandberg, and others who deeply understand the problem space.
Despite her parents' vast network, Melinda French Gates refused to fund the venture, believing that real growth comes from external backing and learning from rejection. Bill Gates has similarly stated his children will inherit less than 1% of his wealth, encouraging them to make their own way.
This story highlights the importance of building a strong, like-minded team and securing independent validation for startup success.
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