Connect with us

Business

From college dropout to Ironman CEO in 7 years, this Gen Z founder found ‘no pain, no gain’ from a trip to China and the Shaolin monks

Published

on


Gustas Germanavicius has only been competing in Ironman events for 15 months, but he’s already become the top-ranked athlete in his home country of Lithuania (a title he lost in the time between his interview and publication; he’s in the top 7% globally). The two-time founder told Fortune that he approaches it the way he approaches his business: always on. “It’s just like in business, you have to, consistently, every day, show up and don’t have any excuses for poor performance.” He said that not all his Ironman training days are great, but he has to make sure he follows his plan. It aligns with how he works.

“Basically I work in marathons and sprints,” Germanavicius said, describing something far beyond the typical “996” workload of 9am to 9pm, six days a week. For Germanavicius, it’s more like two months on and two weeks off. “Two months I work, 24-7, seven days a week, then two weeks off. This two weeks off doesn’t mean that I’m fully offline, but I try to relax and put a lower gear.”

The 27-year-old is proud that his current business, InRento, is on course for its third profitable year. And even though his first business, an artificial intelligence (AI) startup named WellParko, did not work out, he’s proud that one of his investors made a profitable exit, and that they both backed his current venture. “Actually, last month, I bought out two of their funds, so they made a serious profit, because we are at this stage that we are growing profitably.” But Germanavicius was quick to add that he doesn’t exactly enjoy being his own boss.

“I think it’s much more stressful, to be honest,” the strong-jawed, long-haired Lithuanian tells Fortune, “because you have all this pressure, you know? Like, what if I’m wrong? What if my assumptions are wrong? What if my decisions are wrong?” Germanavicius said he doesn’t like “this whole concept of like having no boss is easier.” When he started WellParko at 18 years old, he added, “I wasn’t ready. So I had to go through all the pains, go through all this pressure.” Now that he’s managing a €50 million portfolio, “this pressure is insane,” and he’s learned the hard way how to manage. “It’s not about being free to be your own boss. It’s about serving the customer to get a good business off the ground. Like, it’s not stress-free to be your own boss.”

When Fortune offered that his work sounds like the old expression “no pain, no gain,” Germanavicius grinned and offered an anecdote from deep in Shaolin, China. After WellParko exited, he said, “the first thing I did, I booked the ticket to China and I went to train with the Shaolin monks.”

Germanavicius waved away suggestions that this was some kind of homage to Wu-Tang Clan, the Staten Island rap group obsessed with the concept of Shaolin from old 1970s kung fu movies. “No, no, no, no,” he said, “for me, mastery is one of the key values in life.” He said that despite the monks speaking no English and communication being limited, he learned two mantras from his Shaolin master: “He always said two things: ‘No pain, no gain,’ and ‘practice makes tired.’ Not perfect, but practice makes tired, no pain, no gain.”

The Profitable Contrarian

Germanavicius called himself a “contrarian” who was always entrepreneurial, recalling that he launched a bicycle buying-and-trading business as a middle schooler. (He loves Ironman because of his lifetime love of cycling, he added.) He was an entrepreneur before he was a college student, and he only went to university (the prestigious ESADE) for a few months before deciding that it was a waste of time, “delaying” the start of more meaningful things. “The opportunity cost was too high and I was feeling like I’m underperforming in life.”

The founder told Fortune that he had a pivotal conversation with his mother when he decided to drop out. “I wasn’t confident at first, because at first, of course, it was like a great university and great opportunity, and I had a scholarship.” He said he always remembers what she told him: “Listen, it’s your life. You live it how you want, because you will have to live it. Not me, not not anybody else, just do what you want.’” Germanavicius said this was the “trigger” for his decision. He also disclosed that his father died when Germanavicius was young (almost precisely the time he started selling bicycles). “It was hard, but at the same time, I think it got me to this understanding that no one’s going to take care of you, you know, and you have to take your own actions, and you have to take the responsibility for them.”

A crowdfunding platform that allocates capital to real-estate projects, InRento is active in markets beyond Eastern Europe. They are active in six markets including Poland, Italy, Spain, and Ireland. “We take all the edges of Europe,” he told Fortune jokingly. “I feel like we go to the markets where financing is inefficient,” full of bankable projects and clients, who can’t get traditional bank financing. This doesn’t mean they are sketchy, he said, explaining there are many family owned companies, often in hospitality, which need to raise a few million euros, but most banks in the market uninterested in loans smaller than €10 million. For example, he showed Fortune plans for a former Harry Potter-themed tourist attraction in Poland that needed renovation.

Germanavicius added that InRento is fully regulated and supervised by the Central Bank of Lithuania, with a license issued by the European Central Bank. He said they are fully audited, do annual reporting, and comply with all the applicable laws and regulations of financial institutions in the countries where they operate. “We also publish audited accounts and audits publicly to our clients,” he said, “transparency helps to support reputation and our reputation is our biggest asset.”

What he’s like to work for

Fortune spoke to Bernardas Preikšaitis, InRento’s Chief Operating Officer, to get a feel for what it’s like to work for this beyond-996 founder. Preikšaitis credited Germanavicius with giving him instant trust and the space to grow, training him beyond legal counsel into a business-oriented leader, and offering swift upward mobility rather than locking him into a narrow role. According to Preikšaitis, Germanavicius asserts high expectations with a direct, almost intimidating manner but balances this intensity with tremendous trust in his team.

Despite perceptions that employees may be afraid of Germanavicius due to his high standards, Preikšaitis affirmed that those who stay are deeply motivated by this environment of trust and responsibility. In practice, the leadership style avoids micromanagement, largely reducing communications to updates and priorities. Preikšaitis noted, “Everyone knows what to do. There is no box-checking, no need to report back constantly. It’s about prioritization and getting things done—deals and investor safety above all.”​

He described this as an odd tension between trust and distrust. “From day one, he basically gave a lot of trust to me,” but at the same time, Germanavicius always stresses an edgy kind of work persona, almost a paranoia. “He always tells me, ‘You know, never trust no one.’” Thinking it over, Preikšaitis described the approach as: “I trust no one, but I give 100% trust in you and what you are doing, and I believe in you, and I will enable you at any cost.”

A shift into microshifting

Germanavicius told Fortune he was “still learning,” and after all, he has never had a boss himself. “I still think I’m not very a good manager, to be honest.” He said when he first began working, he assumed others would be wired like himself, but he encountered a more standard mentality. “What I realized was that people from these very deep corporate backgrounds, when you give them all this freedom … for a lot of people, it was weird.” He said his workers “couldn’t comprehend” an environment without traditional hours where key performance indicators (KPIs) were the only thing that mattered.

At InRento, he said he tends to hire “self-starting” people. “They don’t really care about hours. The whole company culture that we build is that we don’t limit holidays. Like, if someone wants to take holidays, they can take as much as we as they want. And basically there are no work hours.” He said he trusts his team to set their own schedules, be responsible for their own work. “It’s very KPI-driven. We are a financial institution where everything can be measured, and all the performance can can be driven to numbers.”

The description of going beyond 996 is familiar to startup founders across the world. Day One Ventures founder Masha Bucher, an early backer of 11 unicorns and over 30 exits, told Fortune that the Silicon Valley culture is nonstop. “People I know, close to me, work seven days a week, from 6:00 or 7:00 am with a break for sports until like midnight or 1:00 or 2:00 am.” She said 996 is a catchy phrase, but isn’t representative of what she sees at all because it far undersells the situation. Like Germanavicius, Bucher said she’s always had that work ethic herself, since age 14. She said it’s “flexible,” but “I don’t remember when I was on vacation and what vacation is. I think when you do something you love, you don’t feel like you need vacation.”

Bucher also said that she views hard work “like a talent” and that not all smart people have it. “One of the saddest things in life is that some of the most intelligent people in the world that I know of, they just don’t work hard, right?” She also insisted that the Silicon Valley community is taking care of itself and working sustainably, despite the long hours. The founders she sees “are not unhealthy,” she said. “In fact, they’re healthier than many more people that don’t live like this.” She said people need enough sleep, some kind of exercise of sports routine, but not necessarily vacation.

There is another word for what Germanavicius and Bucher are describing: “microshifting.” A permanent shift to the workday created by remote work—workers dividing their days into many small, flexible blocks—is becoming the norm for younger generations in the workplace, often befuddling people from more traditional corporate backgrounds. Priya Rathod, Indeed Workplace Trends Editor, told Fortune that the biggest risk with microshifting is “blurred boundaries,” and “if you don’t create a structure around this, some workers feel like they’re always on.”

Rathod said there was a special need to “protect personal time” with this shift in the workday. “In the work world we’re living in, we’re working across time zones, which means you may be taking calls and not just in that 9 to 5 time period. So if you’re doing that, you need to protect other time.” She described microshifting as “kind of a partnership between the employee and their team and their manager to make sure that they aren’t doing this to the point of burnout.”

Germanavicius is one of the managers adopting an entirely new kind of management style for the world of microshifting/always on/996-adjacent schedules. He told Fortune that he encourages people to take vacation and “don’t experience the burnout, because it’s very hard to recover.” He also said he takes care to set up people who can support him, because “the company must not be dependent on me. If it’s dependent on me, then it means I’m doing a craftsmanship, not a business. The business needs to work for you, you shouldn’t work for the business.” There is a price to pay for the microshifting world, though: availability and adaptability.

No pain, no gain

“Just to be perfectly clear,” Germanavicius added, his eyes narrowing, when he takes his two weeks off after sprinting for two months, “it doesn’t mean I’m not working. It’s just that, you know, I sleep in, maybe I have out-of-office on my email,” but he’s still monitoring. He said the business is cyclical, with “peak” and “low” seasons. “So what I always ask from my team: Don’t pretend that you’re working. If you don’t have, let’s say, nothing meaningful to do. Go spend time with your family, but when we have a big fish, then we need all hands on deck, we need to be sprinting.” He said that it’s just like his Ironman training: “If I work, I work. If I do sports, I do sports … I would rather push myself to the maximum and then take some time off, and then push again.”

“No work-life balance” is the reality Preikšaitis sees at InRento—not out of negative pressure, but from a shared sense of mission. Preikšaitis credits Germanavicius as the model: “You either live with your work or there is just no balance.” He said the results are in the KPIs: zero defaults and millions of dollars in deals. Preikšaitis said he is inspired to work so hard from his parents’ stories of living under Communism. “My father, he was a director at one of the tax authorities in Lithuania. He was earning basically 20% of what I’m earning right now. And he was 45, 46 years old.”

At the same time, Preikšaitis said the distribution of wealth is getting “ridiculous” in Lithuania: “there’s a huge separation between the middle class, upper class, and the lower class” and it is very hard to live in Vilnius unless you’re a member of the professional class. yeah. “I think this is the tendency for the whole of Eastern Europe … if you want to make out a living, and you want to have at least a decent apartment, and I don’t know, let yourself travel at least two times a year, you need to work your ass off.”

Germanavicius claimed that he has gained some self-knowledge in his short but profitable, and intense-sounding career. “I am not this kind of person that takes the easy choice, and in general in life I notice that the more pressure I have, it’s easier for me to move forward.”



Source link

Continue Reading

Business

Construction workers are earning up to 30% more in the data center boom

Published

on



Big Tech’s AI arms race is fueling a massive investment surge in data centers with construction worker labor valued at a premium. 

Despite some concerns of an AI bubble, data center hyperscalers like Google, Amazon, and Meta continue to invest heavily into AI infrastructure. In effect, construction workers’ salaries are being inflated to satisfy a seemingly insatiable AI demand, experts tell Fortune.

In 2026 alone, upwards of $100 billion could be invested by tech companies into the data center buildout in the U.S., Raul Martynek, the CEO of DataBank, a company that contracts with tech giants to construct data centers, told Fortune.

In November, Bank of Americaestimated global hyperscale spending is rising 67% in 2025 and another 31% in 2026, totaling a massive $611 billion investment for the AI buildout in just two years.

Given the high demand, construction workers are experiencing a pay bump for data center projects.

Construction projects generally operate on tight margins, with clients being very cost-conscious, Fraser Patterson, CEO of Skillit, an AI-powered hiring platform for construction workers, told Fortune.

But some of the top 50 contractors by size in the country have seen their revenue double in a 12-month period based on data center construction, which is allowing them to pay their workers more, according to Patterson.

“Because of the huge demand and the nature of this construction work, which is fueling the arms race of AI… the budgets are not as tight,” he said. “I would say they’re a little more frothy.”

On Skillit, the average salary for construction projects that aren’t building data centers is $62,000, or $29.80 an hour, Patterson said. The workers that use the platform comprise 40 different trades and have a wide range of experience from heavy equipment operators to electricians, with eight years as the average years of experience.

But when it comes to data centers, the same workers make an average salary of $81,800 or $39.33 per hour, Patterson said, increasing salaries by just under 32% on average.

Some construction workers are even hitting the six-figure mark after their salaries rose for data center projects, according to The Wall Street Journal. And the data center boom doesn’t show any signs it’s slowing down anytime soon.

Tech companies like Google, Amazon, and Microsoft operate 522 data centers and are developing 411 more, according to The Wall Street Journal, citing data from Synergy Research Group. 

Patterson said construction workers are being paid more to work on building data centers in part due to condensed project timelines, which require complex coordination or machinery and skilled labor.

Projects that would usually take a couple of years to finish are being completed—in some instances—as quickly as six months, he said.

It is unclear how long the data center boom might last, but Patterson said it has in part convinced a growing number of Gen Z workers and recent college grads to choose construction trades as their career path.

“AI is creating a lot of job anxiety around knowledge workers,” Patterson said. “Construction work is, by definition, very hard to automate.”

“I think you’re starting to see a change in the labor market,” he added.



Source link

Continue Reading

Business

Netflix cofounder started his career selling vacuums door-to-door before college—now, his $440 billion streaming giant is buying Warner Bros. and HBO

Published

on



Reed Hastings may soon pull off one of the biggest deals in entertainment history. On Thursday, Netflix announced plans to acquire Warner Bros.—home to franchises like Dune, Harry Potter, and DC Universe, along with streamer HBO Max—in a total enterprise value deal of $83 billion. The move is set to cement Netflix as a media juggernaut that now rivals the legacy Hollywood giants it once disrupted.

It’s a remarkable trajectory for Netflix’s cofounder, Hastings—a self-made billionaire who found a love for business starting as a teenage door-to-door salesperson.

“I took a year off between high school and college and sold Rainbow vacuum cleaners door to door,” Hastings recalled to The New York Timesin 2006. “I started it as a summer job and found I liked it. As a sales pitch, I cleaned the carpet with the vacuum the customer had and then cleaned it with the Rainbow.”

That scrappy sales job was the first exposure to how to properly read customers—an instinct that would later shape Netflix’s user-obsessed culture. After graduating from Bowdoin College in 1983, Hastings considered joining the Marine Corps but ultimately joined the Peace Corps, teaching math in Eswatini for two years. When he returned to the U.S., he obtained a master’s in computer science from Stanford and began his career in tech.

The idea for Netflix reportedly came a few years later in the late 1990s. After misplacing a VHS copy of Apollo 13 and getting hit with a $40 late fee at Blockbuster, Hastings began exploring a mail-order rental service. While it’s an origin story that has since been debated, it marked the start of a company that would reshape global entertainment.

Hastings stepped back as CEO in 2023 and now serves as Netflix’s chairman of the board. He has amassed a net worth of about $5.6 billion. He’d be even richer if he didn’t keep offloading his shares in the company and making record-breaking charitable donations.

Netflix’s secret for success: finding the right people

Hastings has long said that one of the biggest drivers of Netflix’s success is its focus on hiring and keeping exceptional talent.

“If you’re going to win the championship, you got to have incredible talent in every position. And that’s how we think about it,” he told CNBC in 2020. “We encourage people to focus on who of your employees would you fight hard to keep if they were going to another company? And those are the ones we want to hold onto.”

To secure top performers, Hastings said he was more than willing to pay for above-market rates. 

“With a fixed amount of money for salaries and a project I needed to complete, I had a choice: Hire 10 to 25 average engineers, or hire one ‘rock-star’ and pay significantly more than what I’d pay the others, if necessary,” Hastings wrote. “Over the years, I’ve come to see that the best programmer doesn’t add 10 times the value. He or she adds more like a 100 times.”

That mindset also guided Netflix’s leadership transition. When Hastings stepped back from the C-suite, the company didn’t pick a single successor—it picked two. Greg Peters joined Ted Sarandos as co-CEO in 2023.

“It’s a high-performance technique,” Hastings said, speaking about the co-CEO model. “It’s not for most situations and most companies. But if you’ve got two people that work really well together and complement and extend and trust each other, then it’s worth doing.”

Netflix’s stock has soared more than 80,000% since its IPO in 2002, adjusting for stock splits.

Netflix brought unlimited PTO into the mainstream

Netflix’s flexible workplace culture has also played a key role in its success, with Hastings often known for prioritizing time off to recharge. 

“I take a lot of vacation, and I’m hoping that certainly sets an example,” the former CEO said in 2015. “It is helpful. You often do your best thinking when you’re off hiking in some mountain or something. You get a different perspective on things.”

The company was one of the first to introduce unlimited PTO, a policy that many firms have since adopted. About 57% of retail investors have said it could improve overall company performance, according to a survey by Bloomberg. Critics have argued that such policies can backfire when employees feel guilty taking time off, but Hastings has maintained that freedom is core to Netflix’s identity. 

“We are fundamentally dedicated to employee freedom because that makes us more flexible, and we’ve had to adapt so much back from DVD by mail to leading streaming today,” Hastings said. “If you give employees freedom you’ve got a better chance at that success.”

Netflix’s other cofounder, Marc Randolph, embraced a similar philosophy of valuing work-life balance.

“For over thirty years, I had a hard cut-off on Tuesdays. Rain or shine, I left at exactly 5 p.m. and spent the evening with my best friend. We would go to a movie, have dinner, or just go window-shopping downtown together,” Randolph wrote in a LinkedIn post.

“Those Tuesday nights kept me sane. And they put the rest of my work in perspective.”



Source link

Continue Reading

Business

‘This species is recovering’: Jaguar spotted in Arizona, far from Central and South American core

Published

on



The spots gave it away. Just like a human fingerprint, the rosette pattern on each jaguar is unique so researchers knew they had a new animal on their hands after reviewing images captured by a remote camera in southern Arizona.

The University of Arizona Wild Cat Research and Conservation Center says it’s the fifth big cat over the last 15 years to be spotted in the area after crossing the U.S.-Mexico border. The animal was captured by the camera as it visited a watering hole in November, its distinctive spots setting it apart from previous sightings.

“We’re very excited. It signifies this edge population of jaguars continues to come here because they’re finding what they need,” Susan Malusa, director of the center’s jaguar and ocelot project, said during an interview Thursday.

The team is now working to collect scat samples to conduct genetic analysis and determine the sex and other details about the new jaguar, including what it likes to eat. The menu can include everything from skunks and javelina to small deer.

As an indicator species, Malusa said the continued presence of big cats in the region suggests a healthy landscape but that climate change and border barriers can threaten migratory corridors. She explained that warming temperatures and significant drought increase the urgency to ensure connectivity for jaguars with their historic range in Arizona.

More than 99% of the jaguar’s range is found in Central and South America, and the few male jaguars that have been spotted in the U.S. are believed to have dispersed from core populations in Mexico, according to the U.S. Fish and Wildlife Service. Officials have said that jaguar breeding in the U.S. has not been documented in more than 100 years.

Federal biologists have listed primary threats to the endangered species as habitat loss and fragmentation along with the animals being targeted for trophies and illegal trade.

The Fish and Wildlife Service issued a final rule in 2024, revising the habitat set aside for jaguars in response to a legal challenge. The area was reduced to about 1,000 square miles (2,590 square kilometers) in Arizona’s Pima, Santa Cruz and Cochise counties.

Recent detection data supports findings that a jaguar appears every few years, Malusa said, with movement often tied to the availability of water. When food and water are plentiful, there’s less movement.

In the case of Jaguar #5, she said it was remarkable that the cat kept returning to the area over a 10-day period. Otherwise, she described the animals as quite elusive.

“That’s the message — that this species is recovering,” Malusa said. “We want people to know that and that we still do have a chance to get it right and keep these corridors open.”



Source link

Continue Reading

Trending

Copyright © Miami Select.