Richard Kim ’12, founder and CEO, Ideacracy
What made you decide to pursue a career in entrepreneurship/venture capital/startups after NYU Law?
I continue to work full time as a corporate attorney, but believe in the mission for my start-up so intensely that I launched it as a side project. Ideacracy is an anti-misinformation iOS app. We bring users the best insights on news, politics, and social causes. New posts appear daily from an exclusive group of all-star commentators.
How did NYU Law prepare you for this career?
NYU Law helped me believe that I can shape my own destiny. I come from a pretty unremarkable background. I grew up in Staten Island and attended a state school. Thanks to my education at NYU Law, though, I've worked at two law firms and one investment bank. My law firm work has further taken me to Germany (where I've now lived and worked for more than four years).
Why do you think lawyers find success in this career path?
The start-up world presents some of the hardest problems to solve (which is why most start-ups fail). As lawyers, we have a unique ability to think through problems and simplify/explain them. So we’re at a competitive advantage when it comes to finding workable solutions.
What was the biggest challenge you faced as a lawyer in this career path?
My biggest challenge has been learning how to adjust to being more of an entrepreneur. As lawyers, we get used to explaining complex legal problems, but often need to learn how to market our brand and our products.
What is the most important thing students should do to prepare themselves for a career in entrepreneurship, venture capital or at a startup?
Students should 100 percent learn by doing. You can already get opportunities for direct exposure at NYU by leveraging resources you have at hand: start-up programs/competitions, seeking out potential co-founders, pitch practices, networking events, panels with VC and startup alums, etc.
What was the most important lesson you learned in your career thus far?
Be in it for the long haul. Whether you’re a lawyer, entrepreneur or investor, it’s easy to fall into hustle-mode culture. These paths necessarily involve a lot of work and everyday stress. So it’s all the more important to develop strategies to preserve your long-term health and sustainability.