An investor who built 13 billion dollar companies explains why it's important to be paranoid if you want to succeed

Former Google China president Kai-Fu Lee has invested in 13 companies that have attained billion dollar valuations.Among his portfolio companies' most successful entrepreneurs, Lee identifies one key quality: They're paranoid.Kai-Fu Lee is the former president of Google China and a technology investor who has funded both American and Chinese startups. Among his portfolio companies, thirteen have achieved coveted unicorn status with valuations of a billion dollars or more.Many of these successful companies have Chinese entrepreneurs at their helm, who operate under a different mindset than the typical American entrepreneur. A key quality that these entrepreneurs possess is what Lee describes as being effectively "paranoid."Chinese entrepreneurs aren't afraid to duplicate good ideas, often resulting in a number of companies fiercely competing for industry dominance. In order to succeed, they build their companies early on with the intent to monopolize the market. ...Sponsored: If you enjoyed reading this story so far,why dont you join Business Insider PRIME'Business Insider provides visitors from MSN with a special offer. Simply click here to claim your deal and get access to all exclusive Business Insider PRIME benefits.SEE ALSO:Apple's $1,000 iPhones are turning it into a luxury brand ' and it could lose a whole generation of customerJoin the conversation about this storyNOW WATCH: Apple might introduce three new iPhones this year ' here's what we know
Click here to read full news..