Bill Gates' Daughter Phoebe and Sophia Kianni Are Getting Real on New Podcast “The Burnouts” (Exclusive)

• Stanford roommates-turned-business partners Phoebe Gates and Sophia Kianni are officially launching their new podcast, The Burnouts

• The show, which debuted on Tuesday, April 1, is about what it's like to be in your 20s and just starting out in your career

• “The point of this show is not really to be polished," Phoebe tells PEOPLE as Sophia adds that "what people need is just someone being honest with them"

Business partners and friends Phoebe Gates and Sophia Kianni are still getting their startup, Phia, off the ground and will be the first to admit they don’t have all the answers — but that’s okay, because it’s just the beginning.

That ethos is at the heart of their new podcast, The Burnouts, which launched Tuesday, April 1.

Part of Alex Cooper’s Unwell Network, The Burnouts promises to bring listeners along for the ride as Phoebe, 22, and Sophia, 23, share the lessons they’re learning in getting their company up and running. (The sustainable fashion platform is still in the pre-launch stage.)

They'll also feature advice from mentors, experts and surprise guests.

“The point of this show is not really to be polished. It's not a buttoned-up business plan,” says Phoebe, an advocate for reproductive rights and gender equality as well as the youngest daughter of Bill Gates and Melinda French Gates.

“I get so nervous before we film. I'm like, ‘Should we even be saying this stuff?’ ” adds Phoebe, who admits that documenting what they’re learning in more or less real time is scary. But Sophia, the youngest U.N. climate advisor in U.S. history, stresses “that’s what people are looking for.”

As she puts it, "what people need is just someone being honest with them” while they’re still “in the thick of it” themselves.

Related: Phoebe Gates, 22, and Her Friend Sophia Kianni Reimagine Shopping with Digital Fashion Startup

Phoebe and Sophia’s story begins at Stanford University, where they were roommates, a subject that the pair are opening up about more in their first episode.

“We were both supposed to room with the same girl … and then we ended up being the only two paired together,” says Sophia, as Phoebe notes, "I was freaking out."

Once they started learning how much they had in common — from “struggles around family and friendship" to a shared commitment to activism, according to Sophia — they soon became close.

A working relationship blossomed a bit later, in the wake of a rejection. “We applied to one of the famous Lean Launchpad classes at Stanford, which is a big deal,” says Phoebe.

After three weeks of prep, they got turned down. But they ended up taking another entrepreneurship class together that “went really well," Phoebe says.

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In that class, they learned that finding what you want to work on “is really about understanding what’s at the intersection of something you love, something you're good at, something that the world needs and something that can actually have a business model,” Sophia explains.

Both she and Phoebe spoke about their love of fashion and began asking themselves how they could use technology to make people smarter — and more sustainable — shoppers.

As for how that idea became Phia, well, it was simple.

“Honestly, the domain was available and it was a combination of both of our names,” Phoebe says. “We were like — great, we’ll go for the name and figure out what the product is as we’re building.”

In their debut episode, the pals also talk about their original company idea (a Bluetooth smart tampon).

Related: Phoebe Gates Talks Abortion, Says She 'Won’t Accept' Her Generation Being 'Less Free Than Those Before Us' (Exclusive)

As for what a typical day in their lives looks like, Phoebe says “it really depends,” but it’s not unusual for them to get to the office at 9 a.m. and leave around midnight.

“Some days you leave exhausted, some days you leave so energized,” she adds — and no matter what, they know "we're still in it together."

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Although now founders themselves, Sophia and Phoebe hope their podcast will be able to speak to people in their 20s, regardless of whether they want to build a company too.

“Our dream listener is the girl who’s grinding, she’s moving up the ladder, she’s working hard, she’s falling down and getting back up,” Phoebe says. “And she’s listening in her AirPods on the way to work.”

The first episode of The Burnouts is available now.

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