How Saeed Amidi Builds Businesses and Backs Founders
At the Plug and Play venue, Richard C. Wilson introduces the platform and interviews its founder, Saeed, on stage.
Richard C. Wilson interviews Saeed about the businesses and investing platform he built. They discuss how he chooses founders, works with corporate and university partners, uses AI, and maintains relationships as the operation grows. The conversation also turns to what keeps Saeed engaged and what he would change about his earlier approach to technology. Richard's opening remarks provide background on the venue and Plug and Play before Saeed adds his own account.
In this video: Richard C. Wilson (Interviewer), Saeed Amidi (Plug and Play founder)
What they said
- Cash flow buys time. Saeed says becoming cash flow positive gives a business time to make mistakes and fix them. He links that cushion to advice from his father.
- Saeed on founder commitment. Saeed says he asks every entrepreneur what they would do if the venture fails. He says he won't invest when a founder has a Plan B, because success takes full commitment.
- Saeed on AI and human judgment. Saeed sees AI as a way for the same team to reach 10x productivity. He wants people to handle relationships and the final decision, with domain knowledge and execution still required.
- Saeed on corporate solutions. Saeed says his team usually finds startups that can solve a corporate partner's problem. He describes the work as bringing a solution into a company's operations.
- Saeed on founders doing the work. Saeed says Plug and Play may help a startup raise money or run a proof of concept with a corporate partner. He says the founders still have to do 99% of the work.
In their words
"For me, I think the biggest element of success is hard work. I think hard work trumps everything else."
"You can be smart but if you don't work hard none of that matters, right?"
Why it matters if you are building or preserving great wealth
Saeed says Walmart's supply chain lead credited Platform Science's route optimization on 13,000 trucks with saving $200 million a year. That example ties a corporate relationship to a solution used in daily operations, giving context to Saeed's focus on matching startups with company problems.
From Richard's exclusive Billionaires.com interviews
Lessons from Richard C. Wilson's one-on-one interviews, as published on each interview page.
- Anu Aga: Focus on one main cause. Her family found its giving more satisfying and impactful once it chose primary education for the underprivileged in India.
- Binod K. Chaudhary: Never chase a deal out of desperation. Stay cool and look at every part of the deal. Have your advisers and your finance team review it critically. Your counsel should review it too.
- Larry Connor: Learn from every mistake. Larry's team owns its failures and makes no excuses. They learn, change quickly, and keep getting better.
See the data
Frequently asked questions
How does the university pitch competition work?
Saeed says 30 startups present to 300 investors and 100 corporate partners. Attendees vote on which startups get follow-up meetings, then the team does deep due diligence on five and invests in one or two.
Who approves an investment at Plug and Play?
Saeed says four venture team members must approve an investment unanimously. When he supports a deal, he still has to persuade his other three colleagues.
Sources
Quotes are copied from the video captions and checked against the transcript. Timestamps link to the moment in the video. General information only, not legal, tax or investment advice.