The journey of Gennady Barsky – From a Full Fiber Optic Network to a Major VC Funded Realty Website
Gennady Barsky jumped to real estate through his private real estate fund, which he co-founded in 2006.
It would be a big feat for a 15-year-old to build a full-fledged fiber optic network today. It’s impressive how Gennady Barsky pulled off that project in 1994, during his high school days. Born on November 16, 1978, Mr. Barsky belongs to an immigrant family of four, who came to San Francisco from Kishinev, Moldova. Gennady Barsky was 10 years old at the time of their immigration. His father was an engineer from Russia, while his mother worked in the medical research field.
Adjusting to a new life can take a lot of effort, yet, a junior Barsky found it relatively easy. The language gap was shortened, thanks to the American cartoons that taught him new words and sentences every day. Later on, he was able to grab a job of delivering newspapers in the community after his parents earned a special work permit. He used the money he saved to invest in a useful bicycle when most of the kids would buy a Sega Saturn CD game system.
Gennady Barsky started developing out-of-the-box ideas in high school. With full fiber connectivity and a T1 line in his school, Mr. Barsky was able to develop his technological and business acumen. In fact, Bill Clinton and Al Gore recognized his school in 1996.
From delivering newspapers to working for a medical management company, with the experience, he propelled forward in the direction of being a pioneer. Gennady Barsky started his first entrepreneurial project in 1996 with a real estate and online banking site called ‘Rates.com’. Like it takes a small stone to create big ripples in the sea, Rates.com attracted a lot of venture capital funding within a small frame of several hours. By the year 1999, ‘Rates.com’ acquired banking licenses in 47 US states. All of this when he was just 20 years old!
Somehow, he foresaw the impending doom of 2000s dot-com crash and managed to avoid it. He left Rates.com and started an online security firm. His expertise won his company nearly 50 granted patents around the world. Being somewhat a jack of all trades, Gennady Barsky jumped to real estate through his private real estate fund, which he co-founded in 2006. Similarly, in 2012, he founded two more high-end real estate development firms in Beverly Hills, which focused on plush real estate projects.
Perhaps the crown jewel of Mr. Barsky’s career is the Uber of private jets, which he established in 2013. By some statistics, it is the world’s largest virtual airline and It wasn’t easy for him. He was betrayed, had his name smeared on the competition by black PR campaigns. They say, whatever doesn’t kill you, makes you stronger. Gennady Barsky rose from the ashes because he never gave up on his ethics. He instead buckled up and got ready for the trouble ahead.
“Surrounding yourself with talented, good-hearted, and honest people is the first step towards your goal”, he explains.
“Avoid working with dishonest, lazy, snobbish, and arrogant people, no matter how good they are at what they do”, he adds.
Look at it closer and you will find Mr. Barsky’s words to be true. A great idea can fail miserably if the people involved are devoid of work ethics. Lack of motivation is something different and can be cured. But an agenda to not succeed and to waste time cannot be fixed.
Right now, investment is the key to maintain JetSmarter’s ascension, and Mr. Barsky’s affiliation to Middle Eastern and European investors is working wonders.
He was able to raise over $100 million from around the globe, primarily through the connection he made from many years he spent in the Kingdom of Saudi Arabia. “To achieve long-term success, stay humble and don’t change as a person no matter how rich you are”, answered Mr. Barsky, when asked about the recipe for long-term success. It’s true, respect begets respect.