I had the privilege of meeting an incredible Pakistani yesterday. @sidraqasim is best known today as co-founder and COO of @WearAtoms , a leading footwear company she created with her husband Waqas. 1/n #persistence
Sidra was born and raised in Okara, Pakistan. When she finished high school she had to enroll in an all-boys college but not attend classes with other boys. Studying in seclusion was uncomfortable but she persisted.
When she got her first job in Lahore, it paid PKR 10,000 / month and that meant living in a hostel near Firdous Market where monthly rent was PKR 4,000. Living in a cramped hostel was uncomfortable but she persisted.
When she created Markhor with her husband Waqas, many folks in Lahore would dismiss them because neither had gone to top tier universities. Pitching business to city folk was uncomfortable but she persisted.
When her company got accepted in the @ycombinator program, her visa got rejected. She still figured out a way to make it to America eventually. Migrating to a foreign country was daunting but she persisted.
When she was preparing for YC demo day, she says her accent was proving to be a limitation so she and her husband worked on their accent so their audience could understand them better. Communicating her vision was challenging, but she persisted!
Today, she speaks perfect English.
Today her company has raised over $8 million from top tier investors in Silicon Valley.
But that’s not the most inspiring part of her journey.
When the Pandemic hit, she decided to create face masks because some of her colleagues in South Korea were wearing face masks. She says when she bought face masks that cost $7 each, she felt many in her neighborhood in Brooklyn NY won’t be able to afford this price point.
To date her company has sold over 350,000 of those face masks and donated over 150,000. I am a customer and can attest that these are simply fantastic. Atoms masks cost $10 each and last up to 30 washes.
While she has come a long way already, I believe she is just getting started. Sidra you are an indomitable spirit and role model. Thank you for the inspiration. Godspeed!
Immigrant founders have made incredible contributions to the American economy and the world. Immigrants often come from difficult environments where contractual enforcement isn’t reliable. When they find the fertile environment of America they bring prosperity. #immigrants
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Imagine being a VP of Product at a unicorn tech company (~2,000+ employees) at the age of 29 and then deciding to quit your career to become a historian....without having any background in history!
Meet Azfar Moin, a Pakistani man who pulled this off.
Today Azfer is considered a world class historian. His book, The Millenial Sovereign: Sacred Kingship and Sainthood in Islam, has won several prestigious awards and he is currently a tenured prof at UT Austin.
Last year I got a glimpse of the question that drives him:
“Why would the most powerful man in the world (Emperor Akbar) declare himself an apostate? (Akbar declared himself the most sacred being on earth, turns out many before him (eg Genghis Khan) pulled off a similar move)
Fiber backed securities: the key to unlocking a $100 bn market driven stimulus that will
1. Deliver a 9% return to investors (4% annual cash coupon, 5% capital gains)
2. Make fiber Internet accessible to 50 million low/mid income American households for $9.25/month
How it works: investors will subscribe to shares of a NewCo. NewCo will use cash to invest $2,000/home as growth capital in several homes to pay for a last mile fiber connection. In exchange NewCo gets fractional share in multiple homes + $6.5/mth/home cash dividend.
When a fiber connected home is sold, NewCo can exercise its tag along right to sell along with home owner OR continue to stay in the property to keep earning a 4% coupon. Worth noting that Fiberizing a home causes its value to experience a one time bump of 3-7%!
How to finance a rural fiber project at $10,000 / Household Connected without subsidies- a thread.
$10k / HHC is considered extremely difficult because payback on such a cost at $50 monthly revenue is well over 30 years. Unfortunately many areas in America fall within this extremely rural category and are therefore neglected.
For context, the @fiberopticassoc considers $3,600 as a complex rural deployment. Implying that $10,000 would be quite outrageous.
The imagined reality of capital gains financing critical infrastructure
@harari_yuval says nations, money and corporations are imagined realities. He argues that fictions narrated by lawyers today are far more fantastic than witch doctors of days past. His larger point is that when enough people believe in a story, it becomes real.
I consider myself a financial engineer. I use my knowledge of market forces to construct bankable contracts in order to solve a problem. For the last four years I’ve focused only on one problem: how to make Internet access affordable for all.
First principles thinking applied to Internet connectivity and the digital divide - a thread
1. A first principle is an axiom or assumption that is self evident and therefore can’t be deduced from other assumptions. The most relevant first principle that can be applied to Internet connectivity is Shannon’s Law. en.m.wikiversity.org/wiki/Shannon%2…
2. Shannon’s law describes the theoretical maximum data rate at which can be transmitted over a communications channel of a specified bandwidth in the presence of noise. Very roughly speaking is the theoretical maximum “download speed” in bits per second.
Applying Internet Engineering Task Force's (@ietf) idea to financing Internet infrastructure in rural areas - a thread.
There is no shortage of capital in the world, but there is a shortage of bankable contracts.
I spent the last 3 years designing a bankable contract that can make fiber deployments feasible in rural areas. This was achieved through an "old school" process of travel, meeting domain experts and documentation of feedback.