Phoebe Gates, the youngest daughter of billionaire philanthropists Bill and Melinda Gates, is stepping into the business world with her new venture, Phia.
The e-commerce tool, launched on April 24, is designed to offer price comparisons for clothing across 40,000 linked websites, helping users find the best deals.
However, it’s her father’s perspective on her business journey that has attracted attention, especially regarding the financial and emotional support he could have provided.
Bill Gates’ Initial Concerns and Relief
In a recent interview with The New York Times, Bill Gates revealed his initial fears about his daughter’s entrepreneurial aspirations.
He had braced himself for the possibility that Phoebe might approach him for funding.
While he would have been happy to back her business, Gates acknowledged that such a request could have complicated their relationship.
“I thought, ‘Oh boy, she’s going to come and ask,'” Gates said. He further explained that providing financial backing would have come with certain strings attached.
“I would have kept her on a short leash and be doing business reviews, which I would have found tricky, and I probably would have been overly nice, but wondered if it was the right thing to do.
Luckily, it never happened.”
Despite his reservations, Gates expressed relief that his daughter never asked him for funding, allowing her to maintain independence and avoid the complexities of mixing business with family.
The Phia Business Model and its Appeal
Phoebe Gates co-founded Phia with her former roommate and current business partner, Sofia Kianni.
The platform’s primary function is to aggregate clothing prices from over 40,000 linked websites, providing users with the best possible deals.
Gates and Kianni have already attracted significant funding for their startup, securing over half a million dollars from venture capital firms and angel investors.
Gates describes the idea behind Phia as a solution to a problem she and Kianni, as young women and roommates, encountered often: scouring the internet for clothing deals.
“We are the girls who are scouring shopping sites for deals,” Gates told The New York Times.
“And there are, frankly, thousands of other young women like us.”
The business model taps into a vast market, driven by the increasing demand for e-commerce tools that help consumers make smarter purchasing decisions.
The Importance of Education and the Pressure of Family Legacy
Though Phoebe Gates was encouraged to complete her education, her father had reservations about her following his own entrepreneurial path, which involved dropping out of Harvard to start Microsoft.
In contrast, Bill and Melinda Gates were insistent that Phoebe finish her degree before venturing into business.
Gates recalled, “They were very much like, ‘You need to finish your degree; you don’t just get to drop out and do a company.'”
Despite this, Phoebe completed her degree in human biology at Stanford University in just three years, graduating in 2024.
Her journey highlights a sense of internalized pressure, given her family’s legacy and the public scrutiny that often accompanies the children of wealthy and influential figures.
Gates admitted that while her family’s resources have undeniably played a role in her opportunities, there is also a heavy burden of expectation.
“If the business is successful, people will say, ‘It’s because of her family,'” she said. “And a huge portion of that is true.
I never would have been able to go to Stanford, or have such an amazing upbringing, or feel the drive to do something, if it wasn’t for my parents.
But I also feel a huge amount of internalized pressure.”
The Pressure of the ‘Nepo Baby’ Label
In discussing her experiences, Phoebe Gates also touched on the challenges of being perceived as a “nepo baby,” a term often used to describe children who are seen to benefit from their family’s fame or wealth.
Gates noted that she felt the label acutely, particularly during her early years at Stanford, where she was aware of her family’s wealth and the assumptions that came with it.
Despite this, she is determined to carve out her own path, relying on her creativity and drive to make her business a success.
The early funding Phia has secured suggests that others believe in her vision, too.
Looking Ahead: Phoebe Gates’ Entrepreneurial Future
With her first business venture off the ground, Phoebe Gates is well-positioned to make her mark in the tech and e-commerce industries.
The success of Phia, however, will be judged not only on its ability to attract users and secure additional funding but also on how it navigates the challenges of competition and scaling.
As her father, Bill Gates, reflects on the journey Phoebe has embarked on, he remains supportive but conscious of the delicate balance between offering help and allowing his daughter to succeed on her own terms.
The Gates family legacy may loom large, but Phoebe’s entrepreneurial spirit will ultimately define her future success.