One year ago, the Virani family made a historic gift to Rice Business, establishing the Virani Undergraduate School of Business. To mark the occasion, Owl Have You Know welcomes Farid Virani — entrepreneur, philanthropist and proud Rice University parent.

In 1999, Farid founded Prime Communications with a single storefront in Houston’s Baybrook Mall. Today, Prime Communications is the largest AT&T authorized retailer in North America, with more than 2,500 locations across the U.S., Canada, and Mexico. Along the way, Farid has relied on three guiding principles — "stay humble, hungry and scrappy" — which continue to shape his approach to business and life.

He joins host Maya Pomroy ’22 to share his entrepreneurial journey, the Virani family’s commitment to education and community, and the vision behind the Virani Undergraduate School of Business — a school designed to empower the next generation of ethical, curious, and compassionate business leaders.

Episode Guide:

00:15 Meet Farid Virani: Entrepreneur and Philanthropist

04:26 Building a Business Empire

05:58 Philanthropy and Community Investment

07:39 The Virani Undergraduate School of Business

11:24 Leadership and Business Education

17:32 The Faris Foundation: A Legacy of Giving

20:25 Advice for Aspiring Entrepreneurs

The Owl Have You Know Podcast is a production of Rice Business and is produced by University FM.

Episode Quotes:

How being agile can separate you from other business leaders

14:13: So, everything is moving very fast. For the next generation of entrepreneurs, the business leaders not only have to build businesses and solve problems in society, but they have to be agile. They have to be fast. They have to embrace technology. That’s a lot of stuff that is coming their way. They have to find their own North Star as to what they’re going to do, and how you do it, I think, will depend on individuals—on their passion, on what they find exciting, what excites them. But more than that, to me, it will require a mixture of basic business fundamentals—doing the right things, building things, having great teams around—but embracing technology, not running away from it. Embracing change, not running away from it. I think that will separate successful entrepreneurs and businesses.

What Farid hopes for the Virani School

15:48: So, my hope is that the Virani School at Rice becomes a top 10 school in the country. Top 5. You said it. That is what we strive—I think Peter and the leadership will strive to do that. But more than that, for me, is that it becomes an institution—the Virani School—that develops the future leaders for the country. Now, whether they are in business, in entrepreneurship, whether it is in the political arena, or whether it is in any industry, so long as it develops leaders that give back to the community and give back to society, and give back to the country, then we will all benefit.

Stay humble, hungry and scrappy

21:02: Be curious, because you just do not know what life has in store for you. I mean, I think for me, being curious and asking questions about things has served me well, and obviously, be grateful that you are part of an amazing institution like Rice—even more special, the Virani School. But then, you know, stay humble, stay scrappy, and stay hungry, and that pretty much has served me well. And it is simple, you can remember it, and it is nothing fancy.

Show Links: 

• Transcript
• The Virani Undergraduate School of Business announcement
  
  

Guest Profile:

• Farid Virani | Rice Business