Net Worth It Ep. 2 | Alec Nguyen: Building an AI Company From College

Alec Nguyen had about $2,000 in his checking account and six months until graduation when he started building what would become an AI platform with more than 100,000 users. In this episode of Net Worth It, Alec shares with Jacob Lubner how a college project became Afforai and eventually Logically, an AI research platform built for researchers. He talks about discovering generative AI while studying abroad, building the first version of the product, and watching it spread across his college campus. The path was far from straightforward. Alec’s university banned the AI project from a campus pitch competition, he applied to more than 500 jobs while trying to remain in the United States, and eventually decided to bet on the company instead. After months of building, pitching, and applying to accelerators, a venture capital firm offered his company its first $100,000 investment. Alec also shares what it was like to move from Wisconsin to Austin with one week’s notice, how the company went on to generate $1.2 million in revenue and raise $500,000, and how he landed on the Forbes 30 Under 30 list. You’ll also hear what Alec learned from building through the early AI boom, why he believes your 20s can be one of the best times to take entrepreneurial risks, and why he still sees the United States as the best place for him to build. And the question every guest answers: was it worth it? New episodes every other week. Follow along: @jacoblubner Chapters 00:00 Intro 04:06 Starting with $2,000 and six months until graduation 06:31 Building the first AI product 12:32 When his university banned the AI project 19:06 Turning the project into a company 27:23 Moving to Austin for $100,000 32:47 Making Forbes 30 Under 30 41:54 Rebranding Afforai to Logically 46:09 Is the U.S. the best place to build? 47:51 Was it worth it? The views expressed herein are those of the speaker and do not necessarily reflect the views of Steward Partners or its affiliates. This material is provided for informational and educational purposes only and should not be considered investment, legal, or tax advice, or a recommendation to buy, sell, or hold any security or investment strategy. Information discussed is obtained from sources believed to be reliable; however, accuracy and completeness cannot be guaranteed. All investments involve risk, including the possible loss of principal. Past performance does not guarantee future results, and any forward-looking statements or market projections are subject to change and may not occur. Please consult your financial, legal, or tax professional regarding your individual circumstances before making any decisions. Securities are offered through Steward Partners Investment Solutions, LLC, member FINRA/SIPC. Investment advisory services are offered through Steward Partners Investment Advisory, LLC, an SEC-registered investment adviser. Steward Partners Investment Solutions, Steward Partners Investment Advisory, and Steward Partners Global Advisory are affiliated companies collectively referred to as Steward Partners. #ArtificialIntelligence #Entrepreneurship #Startups #Forbes30Under30 #NetWorthIt