CEO Who Sold His Company For $14 Billion Last Year Gives His Best Piece Of Advice For Entrepreneurs
David Hung is the CEO of Axovant, a company that sold to pharmaceutical giant Pfizer last year for a cool $14 billion. What makes Axovant worth such an ungodly amount of money? If all goes as planned, Axovant could launch the first new drug for treating Alzheimer’s Disease in 15 years.
This has the potential to be HUUUGE for the treatment of Alzheimer’s, and it could improve the lives of millions. I say this because it’s all part of what Axovant CEO David Hung told Business Insider when they asked him for his single best piece of career advice:
“One piece of advice I’d probably give to everyone is that there’s a very big difference between creating wealth and creating value. I’m not sure that a lot of the things that are worked on in Silicon Valley necessarily address some of the world’s biggest needs or constitute the greatest value creation.
I think that if you do something important, it should be plenty lucrative, but you can’t make that the goal,” Hung said. “The goal should be to create value, and if you create real value, you’ll create wealth. Sometimes I feel that people are doing it a little bit backwards.” (via Business Insider)
This seems like it would be the most intuitive way to start a company but so many people enter the Business world looking to make money instead of creating a product/company that provides value to the world. You create value and that’s when the wealth follows, not necessarily the other way around. (h/t Business Insider)