Midas Newcomers Focused On Breadth Versus Depth To Score Billion-Dollar Wins

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Trae Stephens News

Wesley Chan,Annabelle Yu Long,Justin Niu

Richard Nieva is a San Francisco-based senior writer who covers technology. He joined Forbes in 2022 and covers public companies and artificial intelligence. Previously, he wrote for BuzzFeed News, CNET and Fortune Magazine, and his work has been featured in The New York Times, CNN and the Columbia Journalism Review.

got a call from Peter Thiel in 2013, he didn’t know what to think. Thiel, the controversial tech billionaire and cofounder of defense and analytics giant Palantir, was raising a new fund at his venture firm Founders Fund, and he wanted Stephens, an early Palantir employee, to join as a deal maker.

Chan’s 14 years at Google, one of the most valuable consumer tech companies on the planet, has informed his focus on consumer tech startups. He parlayed that DNA into blockbuster deals in the Australian design tool company Canva , smart doorbell maker Ring and Robinhood, the popular stock trading app .

Based in Beijing, Long brings another perspective to the list. Some of the biggest stories in tech today involve issues with China: The Biden administration has enacted export restrictions on the country for AI chips, Also based in Beijing, IDG Capital partner Justin Niu makes his debut on the Midas List this year. Niu has done deals in enterprise data service DEEPEXI , SenseTime, a partly state-owned AI research company, and AI enterprise provider Everstring, acquired by ZoomInfo in 2020 for $575 million. Before joining IDG in 2007, Niu worked at McKinsey and Company in 2007 as a consultant in corporate strategy and market entry.

 

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