Russia is a place that will make or break you. This is the environment where Stan Vick, 38, learned to succeed.
Today, the founder and CEO of 11thEstate, a New York-based platform for investors to get compensated in securities fraud cases, considers himself a true global citizen. But before Stan was able to set off on worldwide adventures, he had to break free from his rural, poor mountain town.
‘A Matter of Survival’
Stan was raised in “the middle of nowhere” near the Ural Mountains. In the winter, temperatures would plummet to -40°F, and it didn’t warm up much the rest of the year. He believes enduring such harsh conditions as a child is an advantage, saying, “there is no chance you grow up stupid.”
“In difficult conditions, you always need to be quite smart, figuring out solutions to problems every day,” Stan explains. “Not just because you want to make money, but because it’s a matter of survival.”
Stan witnessed how easy it was to fall victim to these unstable and dangerous environments. But for those able to escape the cycle of poverty and addiction, it proves a level of grit and determination that outshines competitors.
These external pressures taught Stan lessons he folded into every aspect of his life.
“Starting from, I would say, even 12 or 14 years old, [my private life] was always related to entrepreneurship and trying to achieve some kind of result to prove that you’re smart, that you’re successful,” Stan shares. “It’s the first position in my private life.”
This dedication and drive allowed Stan to escape his roots and resulted in a 20-year career in investment.
Journey to 11thEstate
Thanks to this job, he was able to visit 70 countries. Eventually, he was sent to America, which quickly became one of his top three countries.
But he found that one area truly captivated him: Silicon Valley. This is where Stan believed he’d find a competitive and challenging atmosphere — but he was wrong. Outside of giants like Apple and Amazon, he says “there are no longer any great founders driving the ecosystem.”
“People think about everything except creating something valuable,” Stan continues. “They look for the attributes of a successful person, but they’re not doing anything to actually become a successful person, and I wasn’t impressed.”
Disappointed, Stan continued to seek out endeavors that would challenge him, which eventually led to his future role as a founder. But he wouldn’t have guessed that his startup path would begin with a bust.
“In 2017 or 2018, I invested my personal money in a biotechnology stock, which I truly believed in and thought had all the potential,” Stan recounts.
The stock ended up failing due to fraud in the company’s management, and he lost $1.5 million. But he wasn’t ready to let the fraudster runoff with his money.
While building a court case, Stan found a Facebook group created for investors who all of their lost money to fraud or scams. They used the page to coordinate and work towards recovering their financial losses. Here, Stan identified a need that wasn’t being met.
“For me, it was the first sign that there was demand for something — some entity to help investors manage and recover their losses related to corporate misbehavior,” he says in relation to 11thEstate’s formation.
A major turning point for Stan was when he came in contact with an 87-year-old retiree in the group. The man explained how he had lost his entire $110,000 life savings and had nowhere to turn, as even McDonald’s wouldn’t hire him. He pleaded with Stan to recover something — anything — from his lost savings.
“I just answered, ‘definitely,’” Stan recalls. “I’m usually quite a cold-hearted person, but this story really resonated with me. His experience inspired me to create a platform that helps all types of investors recover what’s rightfully theirs.”
Roadblocks to Sucess
While Stan was gathering the building blocks of what would become 11thEstate, he couldn’t escape the immense pressure of what building a startup and leaving his current position would mean.
“To be candid, I didn’t have enough motivation to switch to such a big project, taking on the responsibility to build up the company from scratch,” Stan confesses.
But he found a unique way to let the universe guide his decision. During the pandemic, Stan traveled to Peru to participate in an Ayahuasca ceremony. While there, his visions spoke to him about the future.
“[W]hatever money you earn going forward — billions, trillions — it will not make you great. It’s a chance to leave a legacy and really change something in this world for the better,” his hallucinations told him.
With these words ringing in his ears, Stan left the ceremony and immediately called his operational director, announcing he was ready to sell his current fund. Stan had found the motivation to launch 11thEstate and began investing all of his resources and capital into the project, which has become a legacy he’s proud of.
Reflecting on his journey and any possible regrets, he says he has no such “disruptive” thoughts.
“You should work in the current moment,” Stan says. “But definitely not in the past. The past isn’t bringing any value anymore.”
About the Author: Tess Danielson is a journalist and writer focusing on the intersection of technology and society.
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