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Tim Draper
Founder of Draper Associates, Draper Associates

4 Entrepreneurs Compete to Win $1M in Capital Meet the Drapers

🎥 Apr 04, 2025 📺 BizTV ⏱ 48m 👁 44 views
Tim Draper and a panel of judges listen to 4 entrepreneurs competing for $1M in capital for their business. The entrepreneurs talk about what they will do with the investment if they win. Tim introduces the judges and asks them what they are looking for in the entrepreneurs. They bring on the 1st entrepreneur. Maha of Buscaro a mobility ride-share start-up in Pakistan it is hard to commute in Pakistan and women need a safe way to commute that is cost efficient. She talks about her background before her pitch. They see what’s going on behind the scenes with the 2nd entrepreneur Arif of LAAM. He...
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About Tim Draper

Tim Draper, founder of Draper Associates, has been active in media appearances and events, discussing his investment philosophy and his views on Bitcoin, SpaceX, and entrepreneurship. In interviews, Draper described himself as an early investor in SpaceX, stating that the company is "going to take us to Mars." He has reiterated his prediction that Bitcoin will reach $250,000, arguing that it is "better, faster, cheaper than the dollar" and will "eclipse fiat currencies." Draper has advised families to hold six months' worth of Bitcoin, businesses to hold two to four weeks of payroll in Bitcoin, and governments to hold Bitcoin as a hedge against hyperinflation. He has also stated that "if you're a fiduciary... and you don't own Bitcoin, you're being irresponsible." Draper has also commented on the broader investment landscape, stating that "every 20 years, seven out of the 10 biggest companies in the world turn over." He has discussed his criteria for identifying entrepreneurs, saying he looks for founders who are "challenging the status quo" and have a "burning desire" that makes them proceed regardless of criticism. Draper has also promoted Draper University, describing it as a "human accelerator" that turns "ordinary people into heroic entrepreneurs." He has criticized what he called "socialist countries," stating they have "weak leaders" and "flatline" economies, while arguing that "free countries and the capitalist countries grow at extraordinary rates."

Source: AI-verified profile updated from Tim Draper's recent appearances. Browse all interviews →

Transcript (112 segments)
✨ AI-enhanced transcript with speaker attribution
T
Tim Draper0:02
I'm Tim Draper and I invest in big ideas before they become the next big thing. I invested in Tesla, SpaceX, Twitch, all when they were just a sparkle in that entrepreneur's eye. This season, I'm traveling the globe to find game-changing entrepreneurs with world-transforming ideas. I'll bring these visionary innovators to Hero City in the heart of Silicon Valley, where they'll compete for a million-dollar investment. Here is the twist: you, the viewers, can vote for your favorite entrepreneurs and help them secure a spot in the finale. Who will rise to the challenge and secure the funding to turn their dreams into reality? Let's find out together on season 7 of Meet the Drapers.
Here we are in Silicon Valley, where Pack Launch has brought together a hundred of the greatest Pakistani entrepreneurs. We are so excited that Pack Launch has done such an outstanding job, and the top four of those entrepreneurs are going to compete for Meet the Drapers here in the Silicon Valley, the center of all entrepreneurial activity. These incredible entrepreneurs will spread the good word of entrepreneurship back to Pakistan when they fly home. But while they're here, four of them are going to have a shot at going to the semifinals and maybe a chance at the million-dollar investment.
U
Unknown1:56
A million dollar investment for my company right now would be huge.
A million dollar from Tim Draper is a big thing for me.
So by getting this investment, we would really go out and delight our consumers all across the world.
A million dollars for us means a million more people that we can help in Pakistan.
H
Hashimi Akbar2:13
So we're currently collecting over a million plastic bottles every month.
O
Omer Masum2:18
We need the right strategic partners on the cap table who truly believe in decentralization.
U
Unknown2:21
And for us, delighting those consumers means that we want to deliver them outstanding product as early as possible.
And with every dollar that we get, there's multiple additional users who we can solve for on a daily basis.
T
Tim Draper2:45
Welcome everybody to Meet the Drapers. We are so excited today. This is really an amazing opportunity. We have had hundreds of Pakistanis come into Silicon Valley and we found so many incredible opportunities. To my immediate left we have Lynn Eisenhard. Lynn is a global fintech investor at the Bill and Melinda Gates Foundation. Lynn, what are you going to be looking for here? What kind of entrepreneur strikes your interest?
L
Lynn Eisenhard3:20
I think companies that are doing positive things in the world that can really create positive change, whether that's sustainability or creating jobs for people. Those are the things that I'm going to be looking for.
T
Tim Draper3:36
And now we have Azra Nem. Azra runs Draper University and Draper University Ventures, and she has done an outstanding job making connections with people all over the world, bringing more extraordinary entrepreneurs to Draper University.
A
Azra Nem3:53
Thank you. I'm also your best investment in Pakistan so far.
T
Tim Draper3:57
That is true, and she's Pakistani.
A
Azra Nem4:02
We're always looking for extraordinary humans who are heroes solving problems where the price of service is really high and the quality of service is really low, and there's a huge gap in the market. Things that give people that opportunity to create more jobs and more financial freedom in the markets they come from, because there's no lack of talent in the world.
T
Tim Draper4:17
Tell us a little bit about some of the numbers at Draper University.
A
Azra Nem4:22
We are now at over 45,000 alumni from 104 countries, so we're almost everywhere in the world. One number that we are very proud of is that on average, one Draper University alumni creates eight new jobs.
T
Tim Draper4:45
All right, so Atif Swan. He is founder and managing partner at Indis Valley Capital, one of the largest VCs focused on startups from Pakistan. Welcome to the show, Atif.
A
Atif Swan4:58
Thanks Tim. I used to be based here, leading growth and international for LinkedIn. I left LinkedIn, took a year off not knowing what to do next. I spent most of that year in Pakistan and that's when I realized that this was such an enormous opportunity. Exceptional talent everywhere that's come here and done really well, but back home there are amazing incredible companies to be built. In the last five years, Pakistan has gone from raising just $10 million a year in venture capital for the entire country to now almost $800 million in three years.
T
Tim Draper5:34
Are they all Indis Valley Capital?
A
Atif Swan5:37
No, they're not. Otherwise I wouldn't be sitting here.
T
Tim Draper5:40
Let's bring on our first entrepreneur. But before we do, let's see what's going on behind the scenes.
M
Maha Shahzad5:50
I'm Maha Shahzad. I'm the founder of Buscaro. Buscaro is a mobility startup in Pakistan. I've grown up between the US and Pakistan. Life has been split between the two continents. I think when you see a problem, you either solve it or you learn to live with it, and I didn't want to learn to live with it. I spent time in Pakistan previously and had a really tough time commuting. It would be unreliable, unsafe, extremely expensive. There are challenges around accessibility and safety, particularly for women. There is nothing I could have done that would have created more impact and made me happier as an individual than what I've chosen to do. There are all these women who are a third of our user base today who suddenly have the opportunities to get to work, the comfort in knowing they feel safe. We've now done over 10 million bookings, and we haven't had an incident. There was a system that was extremely inefficient that we've sort of eradicated. We have literally the bus mafia in Pakistan that I've gotten up against. Those are not very happy people. They are too afraid to change the things that they know are wrong and they know shouldn't be the way things are. For me, there's always a choice: either you keep complaining about something and you nag, or you just get up and fix it. That comes from the way my dad raised me. He always says in Urdu, which if you translate means 'the person who is afraid, that person is dead.' I remember when I was working for Swivel and that company shut down. I was crying and my dad called me. It was the first time he heard me cry in my entire life. He said, 'What the hell is wrong with you?' I said it's over. He asked me, 'Why if you could run these buses then, why can't you run them now? If you want to help people, then why can't you just get up and do it?' That stuck. We had one bus on the road that day. We have about a thousand of them now, and we have these women who are driving with us. There's a lot of change coming from this that we're very proud of.
T
Tim Draper8:14
That younger woman living in New York seeing now what you're doing, what would that person think?
M
Maha Shahzad8:18
I think there'd be no surprises. That young girl in New York functioned on no sleep, worked round the clock, was very angry, and had a lot she wanted to fix in the world. I think she'd be proud of what we've accomplished.
We are at a place called TDF Afghar. TDF Afghar was an actual house built in the 1930s which has been a museum ever since. That is what we call the Quaid-e-Azam Mazar, the founder of Pakistan. That's where he was buried, as was his sister. Karachi has some of the best food in the world, certainly the best in Pakistan. That's something we all take great pride in. It's where all the action is, where all the work gets done. We have a beach about 30 minutes from where we're standing called French Beach. That's usually my weekend getaway spot. Karachi people are very different than in other cities. Karachi is a lot more fast-paced. For anyone looking for action, this is where they come to in Pakistan.
I've always been on the other side of this. I've judged a lot of competitions. I think that's a much easier job to do. When the tables were turned today, I was absolutely nervous. I'll start by telling you guys about me. I moved to Pakistan in 2017. That's the first time a company was trying to do something about mobility. That was Careem. I moved for them. Then went to a company called Swivel and went on to head their business in Pakistan. That became one of their most remarkable stories. Unfortunately, in 2022 they had to shut down their operations. When that happened, I made the decision that day to continue to solve the same problem. I did that for a couple of reasons: one, because it hadn't been fixed and I didn't think that means it can't be fixed. Two, we thought we were the best team to solve for this. Three, I had thousands of customers reaching out to me who didn't know how they would get around the next day. Two minutes is not a lot of time, so I had to try and pick the bits and pieces we wanted to cover. Buscaro was launched and it is addressing a problem that millions of Pakistanis and people all over the world face, both from an affordability, safety, and reliability perspective. We are able to provide this on a price point that works out to be about 20% of ride-hailing, a quarter of what a rickshaw costs in Pakistan. Over 99% of the 9 million bookings we've done so far have been on time. We've managed to do this in a way that's safe. We started this company to solve primarily for women who have much fewer options than men do in Pakistan. In the last 18 months we've built this business with very little money. I have a team of experts that have been in this mobility space working on this issue that have all come together.
T
Tim Draper11:31
Tell me, is it software?
M
Maha Shahzad11:34
I've seen him on screen obviously prior to this, but I think experiencing that live is a whole different ballgame. We have two business models. There is B2B2C which is essentially B2C but without acquiring users directly. My nervousness and my posture—it's a very different ballgame when there aren't people judging you. Then there's B2B which theoretically you can run without tech, but it's not as efficient, not as safe.
T
Tim Draper12:01
So you said it's a quarter of a rickshaw. What does that really mean?
M
Maha Shahzad12:03
What we managed to do is because we have high capacity vehicles and we're putting 30 people in a bus as opposed to one person in a car. Fuel, being the biggest component, is suddenly reduced and split into multiple people. The average price each person pays becomes a lot lower.
L
Lynn Eisenhard12:22
Are you outright purchasing all of these vehicles and you have to maintain them? As you grow, those costs can grow significantly as well.
M
Maha Shahzad12:32
We don't purchase any of these vehicles. There are people on ground today who are running this as solo entrepreneurs, and we come in and work with them. That means they can earn more money, and we're able to charge the end consumer a lower amount for public transportation. There's just not enough of that. For women in particular, the hope is that this creates opportunities for them to be able to go and work.
A
Azra Nem12:55
What was the one thing you learned from Swivel not working out?
M
Maha Shahzad12:57
Our focus has been on unit economics, on sustainability. I've had very little capital to work with, so there's been no room for mistakes in our case.
T
Tim Draper13:08
Thank you, Maha, for being on Meet the Drapers.
M
Maha Shahzad13:11
Thank you very much.
Relieved, excited that we're all on this show and getting an opportunity to represent Pakistan here.
T
Tim Draper13:22
How about you guys? What do you think?
A
Atif Swan13:25
I'm very curious, Rahim, because you're very familiar with that market. I think it's very exciting. It's a hard problem though because there are startups that have tried to solve it and failed in the past. But Maha has the right experience and she's come from that world, so she's learned that, and so far the numbers are really impressive.
L
Lynn Eisenhard13:43
I think there's a very interesting opportunity in Pakistan because a whole generation of women who never went to school or college are now going to schools and colleges, and for them the biggest issue is getting back and forth from those places because public transport is either non-existent or not safe.
T
Tim Draper14:01
I've got a question on what a rickshaw is. Is it the hand-held one because that's the way I remember rickshaw, or is it like a tuk tuk?
A
Atif Swan14:07
It's like a tuk tuk.
T
Tim Draper14:12
Terrific. So for all of you who didn't know, a rickshaw is no longer the vehicle held by a man with two wheels on the back that runs like a wagon. So see, I'm way behind on my rickshaw terminology. Let's move on to our next entrepreneur. But before we do, we're going to do a little eyebrow exercises. Let's see what's going on behind the scenes.
A
Arifbal14:39
My name is Arifbal. The company name is Lam, and our core mission is that we want to make South Asian fashion accessible to anyone anywhere in the world. I was born and raised in Lahore. I did my undergrad in computer science, got into AI, then got a chance to move to the US to work for Microsoft, Pinterest, Meta. It's easier to connect the dots going backward. My family got involved in fashion and the digitization of fashion was happening. I was the person they were talking to about technology. It was a big shift not only going towards a smaller startup space but also towards an area far from the world I was part of. I was getting to a phase in life where I wanted to have a bigger impact, especially on the community I was raised in. 80% of people thought I was crazy, 20% were supportive. The moment you get a single order from making this fashion accessible across the world, that one moment pushed me to go do this. Looking back four years ago to now, we have created more than 10,000 jobs, especially for creative people on the ground. What started to happen is they started their brands in their garage with one or two people, and in a year or a couple of years their workforces went from two to five to ten. I met one of them a quarter ago who had a workforce of 200 people.
T
Tim Draper16:19
What's the origin of the name?
A
Arifbal16:21
That's a bit personal to me. When we were deciding on the name, my daughter, whose name is Lamia, was around four and a half years old, and we had nicknamed her Lam. Since her birth she keeps telling me that I need to take care of her name now as I have to take care of the brand. Every time we do something fun and exciting she's very pumped up, and she has already made up her mind that she wants to be an entrepreneur now.
T
Tim Draper16:48
What would the guy working at Microsoft or Meta running a big team at Meta think about what you're doing now?
A
Arifbal16:57
I think that person probably had the inspiration to always go do that. I think he would be extremely happy that I took that leap of faith and left that extremely comfortable life of being in a big tech company. The only regret I would have is that I should have done that a bit sooner. The energy I get by doing this, the energy I get from seeing the impact on the ground, is incredible.
U
Unknown17:41
Pack Launch is one of the most fabulous communities which brings the best brains, especially Pakistani-origin brains, whether you're talking about venture investors, investors in general, entrepreneurs, or people who work in technology firms all across the world. Some of the best brains come together at Pack Launch and it's a fabulous community. I personally love the Pack Launch format because there's a limited number of founders that they always have from the ecosystem, and then a different group of investors depending on the location you meet with every time. Whereas generally for Pakistan conferences, you see the same people, but with Pack Launch there's always the opportunity to meet a completely new set of people, which is super exciting. The Palo Alto conference is one of the best that Pack Launch has done because there was such a diverse group of people that we all got to meet and make friends with. That's something I really enjoyed.
A
Arifbal18:41
One of the great things Pack Launch has done is bring all the Pakistani entrepreneurs under one area. That's where the announcement came in, and then I spoke with a founder, Ali, who's been a great supporter of the startup ecosystem. He encouraged me that I should apply, and even all the investors thought this is a great show, so we should definitely do that.
We are at Prayer Hall in Karachi, in one of the most popular areas here where a lot of community gets together. A lot of people are playing cricket behind us. Cricket is one of the most popular games here in Pakistan. I played cricket all my childhood. Cricket is pretty much what 90% of kids growing up end up playing in one way or another. If someone is visiting Pakistan, I think it's the diversity of what you can get from where we are right now in Karachi, the south part, then going to the mid part in Lahore, and eventually to the north where there are great mountains as well. If someone has 8 to 10 days, I would expect them to go from one end to the other and explore the history and culture. Karachi is the economic capital of the country, so most of the hustle and bustle, banking, and a good chunk of startups happen here. That's also where the port and beaches are, which makes the city amazing for visitors, and a lot of economic activity happens here as well.
Yesterday when I was thinking about going on stage in front of Tim and the audience, I felt that I'm going to feel nervous, but when the moment happened and I was walking on the stage, I felt super comfortable. I'm Arifbal. We are trying to make South Asian fashion accessible to the world. I would love to see you in a Pakistani kurta. I know you gave it to me, but I'm a little bigger than what you thought I was going to be. On TV we all look the same size, but I'm shipping one. He brings a lot of enthusiasm, but when it comes down to business he has the ability to go deep. I found him super interesting because of that combo. Before I jump into the problem, I want to talk about our core team and how we got into this. We were living in Silicon Valley and Seattle, working for Microsoft, Facebook, Pinterest, and Amazon. Two of us were actually down in the Pakistani fashion and textile ecosystem, really trying to understand what's going on there. While living abroad, we realized that if you open our wardrobe, we have tons of ethnic clothing but they are not really accessible. So we built this single app and website where people can now browse over 150,000 products from all the amazing creative people from that community. We're currently serving about 3 million monthly active users. We have served half a million customers in 100 plus countries and 7500 plus cities. In less than three years we became the largest consumer shipment company out of Pakistan. Most people are either extremely creative or come from a manufacturing background, but they are not really good at digitizing their business and accessing the global market. So we built this entire infrastructure that allows them to be successful. As we grow, they grow with us, and this is how 10,000 jobs are created. Today we are doing $9 million AR revenue.
T
Tim Draper21:59
That's revenue directly to you?
A
Arifbal22:04
That's correct.
T
Tim Draper22:06
Wow. And in terms of your pitch, you built a lot of excitement that I could see in the bodies when we went to the traction section. Maybe I could have done that a bit earlier. What is it that you're doing that all these other people who are doing fashion in Pakistan are not doing?
A
Arifbal22:23
What we do is collect all the data. We have 400 million product views in a month. We collect tons of data and then give those analytics back in a very simplistic way. Consumers can get personalized recommendations and type in small queries and prompts that give them access to the entire catalog in a very simplistic way.
L
Lynn Eisenhard22:44
I think culturally Pakistan tends to be fast fashion. Every season you need new designs and these guys are helping that. So my question would be: now you are at a significant scale, it's not just the product that matters, it's how you build operations. What is your warehousing strategy, automation? How are you serving all these customers at scale?
A
Arifbal23:02
In 2022 we invested a lot in infrastructure. We ended up building one of the largest warehouses in the history of Pakistan. Even the order routing is optimized so that we can ship an order within 10 minutes.
A
Azra Nem23:16
The process of getting clothing created in South Asia is a highly customized process that involves a lot of back and forth between the tailor and the customer. I don't understand how this is all digitized when the tailor is thousands of miles away.
A
Arifbal23:28
Her question was very valid, but things have changed from the time she looked at Pakistan to where it is today. We have tried to digitize that process as much as we can, but today it's only 5% of the business.
T
Tim Draper23:40
Thank you, Arifbal. Thanks so much for coming. Great questions. I really enjoyed it. I don't know how it's going to go in terms of us moving on or not, but I loved the experience.
L
Lynn Eisenhard23:51
Either you're buying clothes online in size small, medium, or large, and I think that's easy to replicate. So I just wonder how much this will actually grow among a customer base. I think it's also to your point about customization. As somebody who has lived outside of Pakistan for over a decade, customization for my clothes from Pakistan has become less and less unless it's something very specific like festive wear that I'm paying a lot of money for.
A
Atif Swan24:17
I would love to better understand how they scale because that's where we've seen most of these break down.
A
Azra Nem24:25
I really like what they've been able to accomplish because it's a very difficult marketplace to scale. These brands have a lot of bargaining power. It's not as fragmented, and somehow they've been able to tap into the international demand which they did not have access to, to get those brands to play the game and be on there. Now the cycle is going in really good scale.
T
Tim Draper24:48
Two great entrepreneurs so far. Let's bring on our next entrepreneur. Before we do, let's see what's going on behind the scenes.
O
Omer Masum24:59
Hey, I'm Omer Masum and I'm the founder of Mo. Mo is a web3 video streaming platform. I started my career here in Karachi in media. I worked for some of the largest television networks. I lived the media life, but I always believed that media can be disrupted with decentralization. As a consumer of content, you've always been treated as a commodity. When was the last time you actually realized that you can monetize your consumption? What was that leap into entrepreneurship for you? I never wanted to be an entrepreneur. That's the funny thing. People ask me if I wanted to be an entrepreneur, and I said no, I didn't want to be an entrepreneur. I actually wanted to continue my job. I was doing really well. I was a nerd, and as a nerd you naturally want to do well in your career. You don't want to build a company or become an entrepreneur. You just want to have great jobs and grow in them. I've got a wife, two boys, and my dad is no more. He passed away about seven or eight years ago. My mom is very close to me and lives with me. My mom and wife were really against it because they had settled down in Dubai and didn't want to take risks. A risk would mean that if it doesn't work, you might have to go back. For my wife and mom, they really care about me. They still miss the guy who would come back from office and shut off. When you're building your own company, it's always 24/7 on your head. They feel that they would get those things better on a normal life, a normal job, not this journey of entrepreneurship. One of the really funny stories about Mo is that it started with one founder, which was me. After a year and a half I actually pitched through the board, and no one does this usually. Down the road, once the company had already raised capital and was already successful, we went to the board and said we're going to create five co-founders, give them equity, and this title. Now there were six people building a company like it was their own, whereas earlier it was only one person. People go on X and post about being able to pay their electricity bills just by watching a cricket game on Mo. These are fabulous stories. We're living in a world where everyone wants to take from the consumer, and we've created a brand that is giving back to the consumer. My sons are really excited about it. They talk to their friends and seem to be really proud. They're trying to sell this idea of a decentralized video streaming platform and how it's going to change the world when everyone starts making money just by watching content. In their age group, everyone is excited about it.
T
Tim Draper28:02
Great, we're done. Thank you.
R
Rabil Varaj28:13
Hello, I'm Rabil Varaj, the founder and CEO of Surayaka, which is Pakistan's first venture capital fund. We started investing in Pakistan back in 2017 at a time when the ecosystem was very nascent, under the thesis of consumption patterns in the country moving to digital-first avenues. This initiative between Pack Launch and Meet the Drapers is very encouraging for startups out of Pakistan. Obviously I'm biased in thinking every Pakistani startup is great, but I wish the best of luck to Lam, Mo, Reupcycle, and Buscaro in hoping to go all the way and win the million dollars.
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Omer Masum28:56
We are at the National Aerospace Science and Technology Park right now, commonly known as NASTAB in Karachi. There are a lot of big companies here at NASTAB. They're also opening up NASA too now right across the road. There's the Raja here, there is Alibaba, there is Careem. I think there's a lot of history in certain parts of Karachi. For example, you have to go to places like Prayer Hall, Sindh Club, and even Saddar, because that's where Karachi started. There's a lot of architecture that gives you a feel of how old the city was. I've got a lot of foreign friends who come to Pakistan and get surprised by the fact that Pakistan and Pakistani people are amazing hosts. As a country, we are very welcoming, and especially when someone comes from outside, we open our hearts and our arms. We are the best host you can ever find.
I've done a lot of pitching in front of a live audience. I'm actually the streaming partner for one of the largest reality show formats. I would say I'm kind of used to the TV element. I'm the founder of Mo, the world's fastest growing web3 video streaming platform today. As a consumer of content, I've always felt it is unfair that every content creator, publisher, and platform is making money against my consumption, whereas I'm just a commodity. This is exactly what Mo is trying to resolve. We have a vision of bringing true power to the viewers of content. We do this by creating 35% of our advertising revenues, which are reattributed as consumption rewards to the users on the platform. This results in very high conversion metrics. For example, our average engagement time per session is 33 minutes. Compare this to a web2 streaming platform, which stands at 9 minutes with the same content. Today we have around 13 million users from 190-plus countries. We've all read about Tim since we had dreams about becoming an entrepreneur. He has a persona that makes you slightly nervous. We are the second largest video streaming platform in Pakistan today. Just in the past 3 months, we've delivered a billion-plus impressions. We have paid out 20 million-plus micropayment rewards to users for consumption. We've streamed some of the most popular sporting events from the ICC Cricket World Cup to the PSL to the English Premier League to a lot of squash. We have content channel streaming partnerships with some of the largest TV channels like Willow TV, Colors, ESTV, and many more. We have over 100 advertising brands that trust the platform and have seen conversion metrics better than other platforms. Recently we've signed expansion partnerships in two markets: we've launched in Egypt and started in APAC as well. We did $7.5 million in revenue in the year concluded in June 2024.
T
Tim Draper31:44
You paid out to your users 20 million something, 20 million-plus transactions. So this is like on average a 50 rupee to 500 rupee transaction, but people are actually making money for engaging with the content they consume, which is the key disruption.
O
Omer Masum31:56
That's a lot of money for someone consuming a cricket game or a football game in Pakistan. You're allowing the creator to control that content and paying them a piece of the advertising that you sell for that creator.
T
Tim Draper32:14
The energy I saw from Tim was that he was totally getting it. Now what YouTube will do is out of that $100, they give $50 typically to the content owner and keep $50. Our ideology is that there are only two stakeholders in that transaction: the person publishing the content and the person watching. So we give 65% to the creator and 35% to the person watching.
Well, what do you take?
O
Omer Masum32:39
We are the largest creator on our platform because all the cricket rights, football rights, content we produce, syndicate, license, and TV shows we have are our content. So we make the 65% on 80% of the content on the platform. The rest of that is not public service; it's empowerment of the consumer. It's a new way of looking at it because we believe the consumer is a stakeholder in this economy. They bring the eyeball, the impression. Without them, that ad would not have served.
T
Tim Draper33:11
We should put Meet the Drapers on your platform. Sounds like it's free.
O
Omer Masum33:16
Obviously love to have Meet the Drapers on the Mo platform. There's only one authority in the entire world that has the capacity to fund everyone, and that is the viewer. Our pitch to all advertisers is that we are giving you a more captive audience. Would you pay us a higher CPM? 99% of advertisers have said yes. So the money we pay out to consumers in Pakistan is not from our gross margin; that's why we believe this model can be scaled into any market. Do you have exclusivity on that content? Sometimes exclusive, sometimes non-exclusive. Other than Tim, I believe all three judges are not from a media background, which probably went to my disadvantage. You mentioned you are the second largest platform. Who is the largest? How are you differentiating yourself? The largest platform is called Tamasha, owned by Jazz, the largest telco in the country. They have hundreds of millions of dollars behind them and a data play. We on the other hand have a crypto play because we are about to launch our native utility token next month on the Aptos blockchain. The reason we are empowering the consumer today by giving them financial power is because tomorrow that power will be passed back to the creators. Filmmakers, sports professionals, athletes in Pakistan are not getting the funding they need. There are athletes in MMA, football, women's football, and squash that we have sponsored because we built a community of consumers that now has an interest and wants to give back. An empowerment-driven model will bring out stories that otherwise would always be untold. It is time for a viewer economy.
T
Tim Draper34:51
Terrific, Omer. Great to have you on Meet the Drapers. Thanks for joining us.
O
Omer Masum34:56
I think Tim has this amazing personality, he's got this aura. Looking forward to the results.
T
Tim Draper35:03
And what did you three think?
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Atif Swan35:06
First thing I'd say is Pakistan is a market where there's a lot of content consumption. If you look at time spent on Android, they're like the sixth largest country. So people love this stuff and there is a need to earn for sure. They seem to be getting traction. I understand how this scales because you're paying people to watch content. I would love to see how that plays out. It could lead to interesting behavior change.
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Tim Draper35:28
Let's bring on our next entrepreneur. How are the eyebrows? Everybody getting good at this? But before we do, let's see what's going on behind the scenes.
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Hashimi Akbar35:36
So, I am Hashimi Akbar. I am the founder at Reupcycle App, and the core problem we're trying to solve is to reduce plastic pollution in the environment and save the world. I joined Big Tobacco, a company called Philip Morris, all across Pakistan. Then spent some time in Switzerland. Came back and realized this is something I need to do. Going from the most beautiful country in the world and coming back to Pakistan, understanding how waste is ruining our world and causing climate change. We generate 4 million tons of waste plastic every year and more than 70% goes back into the environment. I've always been very passionate about entrepreneurship. In school and grad school, I learned the concept of the triple bottom line: people, planet, and profit. This is what I want to do. I wanted to have a good impact on the world, and the best way was through impact entrepreneurship where I'm not only making profit but doing something for the people and planet. The people around me supported me in that cause. A lot of people first ask me, 'Do you make money? How do you make money from collecting plastic?' So I explain that we convert it back into raw material and give it to industries using it as a raw material. We pay people for their waste. When we pay people, they say, 'We're getting money for something we were never getting money for.' That younger version of myself working for Philip Morris, no judgment, but probably not trying to save. What do you think that guy would think about what you're doing now? I think that person would think this person is very brave, leaving the comfort of a regular paycheck and going into something where he doesn't know when he's exactly going to start making money from, but actually impacting the world in a positive way. When I was employed, it was one salary coming in. Now, if I don't draw a salary, there are still 40 other people getting a salary every month. That's the kind of impact I've created. That younger self should be proud of where I am now. We used to find plastic bottles on the road. Now we don't find them on the road. People are becoming more responsible. They understand there's something we can make money from, so they pick up empty plastic bottles and keep them at home.
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Tim Draper38:10
Cool. That's it, man. Thank you.
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Abu Bakr38:22
Hi, this is Abu Bakr. I'm the chief executive officer for Pakistan Software Export Board under Ministry of IT and Telecom. What Pakistan offers today is an amazing visit with a population of over 250 million people, with 100 million youth under 30. You are in the heart of Pakistan, in Karachi right now. But if you go out to other cities like Lahore and Islamabad, you will find an abundance of talent. We have about close to 25,000 IT companies. We have the second largest freelancing economy in the world. We have amazing talent of about a million freelancers out there. There's an amazing startup ecosystem developing. We welcome you to join us and see the hospitality and culture of Pakistan. Thank you.
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Hashimi Akbar39:10
We're at Clifton Beach in Karachi. This is the sea view, the main tourist attraction. I think the Pakistan ecosystem is really developing. For example, I was in that building, the top floor with the best view of the beach in Karachi, and I left that to end up cleaning the beaches to make sure Pakistan is a clean, plastic-free country. I'm very proud of being from Pakistan. What I love about the country is the community environment, the camaraderie, the warmth of the people, the kindness, the hospitality. When everyone comes together, they can actually bring change. Meeting my friends over a cup of chai at one of the chaiwalas, just having those cups of tea and talking to friends, is the best way to blow off steam in Karachi.
This was the first time I pitched to someone on stage, and doing it on an international stage in front of Tim Draper. I prepared, but I was still nervous. Our purpose at Reupcycle is to leave the world a better place than we found it because we're running out of time. Every day, tons of plastic go into the environment harming the ecosystem, and it's getting worse. Pakistan, along with the world, is drowning in plastics. Living in Pakistan has very different problems. Some people don't really live in Pakistan to understand what's happening. Why is that so? Because we don't have any formal recycling, and the invisible hand—the marginalized community that takes care of all the waste—doesn't have a dignified work environment. That's the problem we're solving: democratizing recycling in Pakistan through a decentralized collection platform, giving everyone money to give us their plastic. We convert it into raw material and sell it back to industries. The industry makes recycled bottles and polyester fiber. We have unlimited demand and limited supply. I've never been afraid of public speaking, but today on stage I was freaking out. The market is huge: a $4 billion market for plastic in Pakistan, and that's only processing. If we vertically integrate, it could 10x, 15x, 20x. We have 30-plus years of work experience in Fortune 500 companies scaling and building startups, businesses, and products. We grew at 34%. We're collecting about 60 tons of waste plastic every month. In the end, I want everyone to close their eyes for 10 seconds and think about a world with no climate change, no waste, and the only things we need to worry about are what to watch, what to wear, and where to go.
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Tim Draper42:03
I've seen many waste-to-energy, waste-to-product. Why is this going to work when all those other ones didn't?
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Hashimi Akbar42:12
We're already making money. We know it makes money. We want to go into other recyclables that are also going to make money.
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Lynn Eisenhard42:20
Anyone who's trying to make an effort to incentivize mass populations to recycle plastic is doing good. Plastic is a real problem. I think Lynn did understand what the problem was, but obviously the question is, how is this a sustainable business for you?
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Atif Swan42:35
I'm curious, is there a big market in Pakistan for these recycled plastics?
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Hashimi Akbar42:42
In Pakistan, it's a huge market. We have unlimited demand and limited supply. Pakistan is a textile producer for a lot of foreign entities, and all these companies have a mandate to put recycled things in their products. They say it's made from recycled plastic. But then I thought, I don't think Tim goes shopping for clothes. The demand for recycled materials is not being met by supply, so it's a collection problem we're solving. Tomorrow, the big players—we're already talking to Nestle, Coke, Pepsi as potential partners. All these companies need recycled items in their products.
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Azra Nem43:23
This is a very commonly pitched idea. I have also seen a dozen-plus pitches in Pakistan about this. What differentiates you?
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Hashimi Akbar43:33
We have a B2B business which is 98%. Then we go all the way to the household to collect plastic. No one is doing that, and we're paying people money for it.
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Tim Draper43:41
Thanks so much for being on Meet the Drapers today.
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Hashimi Akbar43:44
I've been preparing for a week because I knew I was the smallest startup compared to the others. If I win, we're going to celebrate tonight. Let's see how that goes.
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Tim Draper43:53
What did all of you think?
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Lynn Eisenhard43:56
Very important problem to solve. We all agree. And I think the household collection thing is really interesting.
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Tim Draper44:07
Okay, so now we've seen four great entrepreneurs from Pakistan, and we would like to invite them all to come on up here and face the music.
So Lynn, what did you think?
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Lynn Eisenhard44:23
I think all of these founders are fantastic, and I wish we could back all of them.
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Tim Draper44:30
Well, you actually can.
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Lynn Eisenhard44:33
That's a longer conversation. But if you were to make me pick Tim, more people need to be funding female founders, smart women who are doing incredible things in the world. And I think that is Maha.
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Tim Draper44:45
Azra, what do you think?
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Azra Nem44:47
First of all, fabulous job. I know how hard it is to build in Pakistan. You guys are doing something great. Thank you so much for creating all these opportunities for people there. Lam figured out something that excites me. They figured out something that all the other companies that have looked at or invested in this space haven't. Kudos to all of you. Fantastic pitches. It was a tough one for me. If I had to pick one, I would go with Lam.
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Tim Draper45:12
Okay, so here's my assessment. Buscaro seems like a pretty interesting business and you've started to really take off, exciting, getting all those people to travel. We've actually had another one from Africa on our show that seems to be doing quite well. Lam, you're allowing both the creativity and the commodity to kind of work together, and that may be something that could go global, and your business seems to be doing quite well. So way to go. Mo, you are rocking it, and social media is a very competitive space and could be a really tough place to be. But the fact that it's sort of 'we pay you to watch' I thought was very clever. We want Meet the Drapers to be on your program. I'm looking forward to getting those checks. Reupcycle, I understand you were the TikTok winner. Congratulations, which shows that the younger generation really is thinking hard about getting garbage off the streets and onto our clothes. I'd love to be able to make a decision here, but if we can get the whole audience to send all their energy to this very powerful crystal ball... Is it a recycling thing, or is it social media, or does it have to do with how fashionable we all are? Or is it transportation in Pakistan? Buscaro, you are the winner. Congratulations. You will move forward. Fantastic. And thank you all for being a part of the show.
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Maha Shahzad46:58
Great to win. I think in this case, I'm now particularly excited. I know there hasn't been an episode for Pakistan before, and so happy to just be representing the country that I build in.
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Arifbal47:10
I think my case to bring us back is that we have generated $70 million in sales for over 1,000 creators on the ground, resulting in 10,000-plus jobs. If we can multiply that by five, we have the ability to create 50,000-plus jobs. So yes, we should be voted back on by the viewers.
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Omer Masum47:30
The revolution that Mo is trying to bring is for the viewers. We want to make sure that you are not a commodity anymore and you are actually an active stakeholder within the content economy.
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Hashimi Akbar47:43
You should vote us back on because we're trying to save the world. See you next time on Meet the Drapers.