About Jacob

Jacob Hsu is a tech executive and entrepreneur known for his innovative approaches to workforce development and digital services. After graduating from the Wharton School of Business at the University of Pennsylvania, Hsu began his career in investment banking. His entrepreneurial journey started accidentally when he created a web-crawler and data-scraper tool, which he sold to a bank at age 23. Hsu went on to found or co-found several companies in the United States and Asia. Notable among these was Trilogica, a data aggregation software company, and Epitome, a banking applications company. He later became CEO of Symbio, a global software engineering and R&D services company, which he transformed from an early-stage startup into a diversified IT services company with over 23,000 employees worldwide. In 2016, Hsu became CEO of Catalyte, a workforce transformation and upskilling technology company. At Catalyte, he pioneered the use of artificial intelligence to identify individuals with exceptional aptitude for technology careers, regardless of their background. This innovative approach aimed to create a more inclusive and equitable labor market. Currently, Hsu serves as the Executive Chairman of Fearless, one of the fastest-growing digital services companies in the United States. He is also the Chairman of the Smithsonian Asia Pacific American Center and leads Just Economy, a consultancy focused on public-private partnerships. Hsu's contributions to the tech industry have earned him several accolades, including being named one of the world's Top 12 Young Global Leaders of Tomorrow by Chief Executive Magazine and recognition as a Young Global Leader by the World Economic Forum in 2011.

Q&A with Jacob

Jacob Hsu fell into the startup ecosystem by accident. Originally from an investment banking background, Jacob started by simply wanting a way to make data-entry easier prior to the dawn of the internet. He created a web-crawler and data-scraper on a floppy disk, originally for personal use, but then later sold the intellectual property to a bank. However, when a bank expressed interest in his new technology, he sold the intellectual property at age 23.

Currently, he is interested in exploring the increase in Asian (and especially Taiwanese) representation and influence in the U.S., as well as traveling with his family.

886: What motivated you to start your own company?

Jacob: “It was an accident - I never planned to do a startup. In college I would have told you I’d be a banker for the rest of my life. During investment banking, there was no internet yet, no company email addresses, and it wasvery difficult to access information. To do work you had to get physical copies of information. I knew you could get this information online and on databases, so I write a web-crawler and data scraper. I just wanted to be more efficient with data entry. It was all on a floppy disk, just for me and my friends to use really. I was really surprised then when I was approached by a bank who was interested in buying what I had made, but since I didn’t have a company or anything, I just sold the bank the IP.”

886: What does your path look like?

Jacob: “After I sold the IP to my first ‘company’ in 1998, I went back to silicon valley and raised capital doing the same thing, just more polished, with a better business plan, better account aggregation, and 11 employees. I ended up exiting to a Japanese company 8 months in.”

“At this point, I’d done two startups (sort of) with two exits, and now I wanted to learn how to run a real company and manage real employees. I had connections working at a company (the predecessor of Symbio) working on single code base for technology, and I was brought in as the “business guy.” At this company I established a lab in China, became CEO five years in, and the company has now grown up to 40,000 people, mostly working on R&D and engineering new technologies. We exited Symbio to Bain in 2014.”

886: What are characteristics of successful startups?

Jacob: “The Grind. There’s a difference between a “job” and being a CEO/founder. You have to let things cook under pressure and time and hard work. I’ve noticed that startups that start in bad times seem to succeed more than startups that start in good times, because it requires a certain mental fortitude that you don’t need in good times. There are ways you can tell if a founder is grinding - what are they sacrificing to make it work? You can ask yourself, ‘What are you sacrificing to pursue this dream?’ You can get advisors, get consultants, but it’s the mental fortitude that makes a good entrepreneur. Founders also need to have a strong, authentic “why,” which is why you can’t just create a founder - there needs to be something intrinsic to them. Also, it’s important to find product-market fit early.”

886: What is your advice to aspiring founders?

Jacob: “First make friends, then find ways to do business - relationships first. Technology comes and goes, products come and go, it’s all fleeting. Never fall in love with products, or companies. Think of this as hobby, like I just love building stuff. Love the process, love the learning, and always support other founders.”

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