From Staff Engineer at Meta to Y-Combinator Founder

Rushabh Shah's Journey from a Staff Engineer at Meta to founder of AiPrise (backed by Y Combinator)

Jul 28, 2024

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In a recent conversation, I had the privilege of speaking with Rushabh M. Shah, a former Meta engineer who took a leap of faith to co-found AiPrise, a YC-backed startup focused on KYC (Know Your Customer) and KYB (Know Your Business) as a service. Our discussion delved into his motivations for leaving a secure corporate job, the challenges of entrepreneurship, and the lessons learned along the way.

We did our Master’s together from Stony Brook University from 2016-2017.

Motivation behind the Journey

Rushabh's career at Meta was filled with stimulating challenges and a supportive team. He joined as a new grad engineer in 2018 and made his way to Staff Engineer in a short period of 4 years. He enjoyed the work and the personal growth opportunities but kept wondering, "What's next?"

I always wanted to do something of my own. At Meta, I kept thinking about what lies beyond the next promotion or managerial role. There was always another ladder to climb, but I craved something more personal and challenging.

The excitement of entrepreneurship, with the promise of new experiences and significant impact was irresistible. While his corporate journey offered stability, it lacked the entrepreneurial excitement he sought.

The Y-Combinator Push

The real turning point came when Rushabh and his co-founder applied to Y Combinator (YC), a renowned startup accelerator in silicon valley.

We applied to YC with a basic mock-up built over a weekend. We were transparent about our uncertainties and lack of a fully developed product.

To their surprise, they were accepted. This validation from YC provided the confidence and platform they needed to quit their jobs and focus entirely on their startup.

YC offered us the support and guidance we needed to navigate the initial challenges of entrepreneurship. It was the push we needed to take the plunge."

Embracing the Unknown

Transitioning from a structured corporate environment to the unpredictable world of startups was no small feat. The financial implications were significant, and the absence of a steady paycheck was a stark contrast to the lucrative compensation at Meta.

The biggest concern was the financial aspect. I had to weigh my responsibilities and decide if I had the room to experiment. I saw it as a two-year investment in learning and growth, akin to a crash course in an MBA.

This pragmatic approach helped Rushabh manage the transition. He viewed the entrepreneurial journey as a finite experiment, with the option to return to the corporate world if necessary. "The key is to timebox your entrepreneurial efforts and be ready to pivot if needed," he advised.

Building AiPrise

AiPrise, Rushabh's startup, focuses on providing KYC and KYB as a service. Initially, the idea seemed niche, but deeper exploration revealed substantial gaps in the market. Conversations with other startups at YC highlighted the ongoing challenges and inefficiencies in the KYC/KYB process, solidifying their business direction.

We realized that KYC or KYB, despite being a mature field, had many unresolved issues. YC's insights and interactions with other companies helped us identify and address these pain points.

Also, AiPrise is hiring and you can look out for open roles here. You can also reach out to Rushabh on his LinkedIN.

The Entrepreneurial Learning Curve

Running a startup required Rushabh to acquire new skills rapidly. Unlike in a corporate job where roles are well-defined, entrepreneurship demanded that he and his co-founder wear multiple hats. They had to learn everything from sales and customer relations to legal and financial management.

YC gave us a boilerplate on how to handle various aspects of running a company. We learned a lot through trial and error, and by seeking advice from our network.

Interestingly, Rushabh found that his experience at Meta was more relevant than he initially thought.

Big Tech experience provides structure and best practices that are valuable in a startup setting. For instance, performance reviews and a no-blame culture during outages are practices we carried over from our experiences in big tech.

The Co-Founder Dynamic

Rushabh and his co-founder, both engineers from Big Tech, had to navigate the challenge of dividing responsibilities. Initially, they tackled everything together, from coding to pitching to investors. Over time, they began to specialize based on their strengths and interests.

We have a fluid approach to task distribution. Whoever is more passionate or skilled in a particular area takes the lead. It's a continuous process of figuring out what works best for us.

A Day in the Life

Running AiPrise involves long hours and a demanding schedule. Rushabh's day typically starts with customer calls and follow-ups, followed by engineering work, given that their development team is based in India. Despite the long hours, he appreciates the flexibility that entrepreneurship offers.

Timing is in your control. There are days when I work through the night and rest during the day. The focus is on getting things done, regardless of the hours.

Takeaways

Rushabh’s journey from Meta engineer to startup founder offers several key lessons for aspiring entrepreneurs:

Timing and Financial Planning: Evaluate your financial situation and responsibilities before making the leap. Timebox your entrepreneurial efforts to manage risk effectively.
Progress Over Perfection: Do not wait for the perfect product. You don’t need a product making revenue before applying to YC.
Seek Validation: Programs like YC can provide crucial validation and support. Be honest about your stage and goals when seeking such opportunities.
Leverage Past Experience: Skills and practices from corporate roles can be invaluable in a startup setting. Use your previous experiences to build a strong foundation for your new venture.
Continuous Learning: Be prepared to wear multiple hats and acquire new skills rapidly. Learning through trial and error is part of the entrepreneurial journey.
Flexible Roles: In a startup, flexibility in role distribution can be a strength. Play to each team member's passions and strengths, and continuously refine your approach.