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Ask HN: Founders who sold their company, what do you do?

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Re: Ask HN: Founders who sold their company, what do you do?

#61
post #4

Exited with two co-founders when our runway ran out. Sold our IP and assets for a modest amount to our main competitor. I realised that (as CTO) the main area I couldn't contribute to was 'the business' of running a successful company. So I decided to remedy that, I joined McKinsey and left last year as an Associate Partner. I'm now the VP Engineering at a fast growing tech company (250+ people) and the impact I can…

Ha, you worked for one of my work's competitors in the consulting space and now for one of their digital/analytics competitors. Small world.

Re: Ask HN: Founders who sold their company, what do you do?

#62
I'll do a throwaway for this. Company had an exit that was about $120m personally for me about 3 years ago. It was a hard slog of about 14 years during which time me and my cofounders got sick of each other, most relationships that I came in with blew up and so on.

It is so very strange to not work. First off, everyone all the time is lightly nagging you to work. I don't want to work! I already did that. Surprisingly it is my retired parents who nag the least since they understand retirement the best. It's everyone else my own age (35) that is weird. People who lightly know you ask 100 questions and you sort of have to lie or carefully select truths when you first meet someone because it goes badly saying what you really think most days. Some variation on "Don't you get bored?" constantly coming up. Answer is - no!

After a few years of this lifestyle I am settled in quite nicely and almost don't remember working except as a distant other life. I work out, I see friends, I go drinking, I get up at 7am, I read Hacker News, I do a hobby here and there. Any time I throw myself into a hobby I typically find it fills 2-3 hours a day that is just about enough time in a day to be busy for me nowadays.

One thing that definitely differentiates is I can travel and do the hobbies of a rich person. I rarely get to throw around numbers with strangers so almost weird to even type but I am spending $2.4m this year just on my little pet projects. Not businesses - just stuff I wanna do for fun with no real purpose.

I am very serious about managing my money and I'm a wealth manager's worst nightmare. I meet with everyone, talk endlessly about what is possible, read a lot on investment, and very very rarely give people my business. They are welcome to pitch but after meeting with a ton of folks I ended up making it my part time job and I always know more than the back slapping sales guys they send to try and get 1% fees out of me.

You end up finding other people in similar situations. I have a good friend from my startup days in a similar boat with a slightly lower number who made $8m on crypto this year purely out of boredom. He made $10m the year before on a startup he cofounded for 18 months again out of boredom. We get together every week or two, talk about the struggle to keep busy but not too busy. Ha it sounds like we are complaining! It's just a balance as we navigate having fun with projects but not getting stuck in a decade long slog again.

I guess I like the idea of being 'rich uncle' or 'grandpa' to a startup, having a flexible amount of involvement. Perhaps daily for 6 months, 4 days a week for a year more, and then 1 day a week from there. In the real world I just worry I'd be so involved it would accidentally be me killing myself and stressing out for 7 years to build a $20m company when my investments make me $7 a year living my life with freedom.

Dating is a bit funny when you don't work; you sort of self-select the people for whom it is an issue. People see my house at some point in the dating cycle and there's no hiding the situation. I have on a whim with 24 hours notice taken a girl I was attracted to across the world, had a great week, and then basically that was it. But by and large dating is just normal go around have dinner get a drink stuff, no helicopter sunset champagne yacht adventures. I feel a little bad I'm doing it wrong. Very few gold diggers in my life, surprisingly. I kind of was hoping at one point my friends would have to tear me off of some model. Ah well. I watch TV shows like Ballers and their idea of what rich people are like is really funny to me; I do normal things and date normal people. I suspect based on dating history I'm going to become a stay at home dad to a career minded woman. I suspect it is rewarding to raise the kids?

Re: Ask HN: Founders who sold their company, what do you do?

#63
post #48

Earlier quoted context omitted.

That is very interesting! How'd you manage to come to the conclusion to go somewhere like McKinsey? How'd you get in? How long were you there and what sort of stuff were you learning?

I knew that the only way I'd learn is by doing it a lot in different contexts. Which led me to strategy consulting. Which led me to McKinsey, due to it being the preeminent player in that space. I applied to a then nascent part of McKinsey (that is now very mature) called Digital McKinsey, as someone who could help clients build and transform engineering and product organisations. To be a CTO/VP Eng for hire, almost.…

Can you give some recommendations or some readings on how to communicate and structure your thinking that you found useful? Even a couple blog posts.

Re: Ask HN: Founders who sold their company, what do you do?

#64

Earlier quoted context omitted.

I’m still very creative but I consciously prioritize my happiness which I’ve found largely correlates with low stress, physical health, and sleep. I’ll do a few productive benders a year where I shut myself in for a week or two at a time, but invariably I start feeling crappy and need to get back on a healthy schedule.

I think in the long run my life would be better if I struck a better balance between your approach and my own and it's something I've been thinking of doing, in particular with getting healthier.

If you’re looking to strike a balance, this image might be helpful to you.

https://i.pinimg.com/originals/b9/4e/0a/b94e0afba9b340e414fd...

I think OP’s Hedonism is a perfectly reasonable way to stay happy.

Contrary to religious beliefs, having regular, consistent, and healthy sex is good for the mind and body.

Even your Kama Sutra is a guide to a virtuous and gracious living that discusses the nature of love, family life, and other aspects pertaining to pleasure-oriented faculties of human life.

Stoicism and Hedonism would have been my personal approach to life.

Regular and consistent sex is very healthy, important, and normal. Don’t forget about it while you go along your creative journey.

Re: Ask HN: Founders who sold their company, what do you do?

#65

I'll do a throwaway for this. Company had an exit that was about $120m personally for me about 3 years ago. It was a hard slog of about 14 years during which time me and my cofounders got sick of each other, most relationships that I came in with blew up and so on. It is so very strange to not work. First off, everyone all the time is lightly nagging you to work. I don't want to work! I already did that. Surprisingly…

Yes it is rewarding, especially if you can devote the time to give them 1:1 attention. It pays off in spades for everyone.

Re: Ask HN: Founders who sold their company, what do you do?

#66

I'll do a throwaway for this. Company had an exit that was about $120m personally for me about 3 years ago. It was a hard slog of about 14 years during which time me and my cofounders got sick of each other, most relationships that I came in with blew up and so on. It is so very strange to not work. First off, everyone all the time is lightly nagging you to work. I don't want to work! I already did that. Surprisingly…

Curious, can you share what your hobbies/projects for this year are?

Re: Ask HN: Founders who sold their company, what do you do?

#67
post #58

Earlier quoted context omitted.

Can you explain a little about how your experience at McKinsey has allowed you to have a greater impact? Why did you go back to VP Engineering after having consulting experience? At first though, I would think your technology experience would give you leverage on the business side rather than the other way around.

Among many other things the experience gave me: * Empathy with the folks who's thinking was alien to me previously. I learned through doing their job. I could communicate with them and work in their context in a way that allows me much more leverage and ability to have impact with engineering. * I learned the semantics and pragmatics of running a large organisation which gave me the lexicon and confidence to be taken…

Thanks for your insights.

I had never thought of the big 3 as possible route post-sale. Sale is not on the radar atm so back to my daily operational duties in my small yet thriving company :-)

Re: Ask HN: Founders who sold their company, what do you do?

#68

I'll do a throwaway for this. Company had an exit that was about $120m personally for me about 3 years ago. It was a hard slog of about 14 years during which time me and my cofounders got sick of each other, most relationships that I came in with blew up and so on. It is so very strange to not work. First off, everyone all the time is lightly nagging you to work. I don't want to work! I already did that. Surprisingly…

That lifestyle sounds amazing coming from a late 20 year old. Hoping I can achieve that in the next 5 years too :)

What was the company specializing in that you co-founded?

Re: Ask HN: Founders who sold their company, what do you do?

#69
post #24
post #23

Earlier quoted context omitted.

If (like me) you don't know anything about the (online) poker scene, "Black Friday" here is likely a reference to United States v. Scheinberg [1], a federal criminal case against the founders of some major online poker sites. [1] https://en.wikipedia.org/wiki/United_States_v._Scheinberg

out of interest, do the people of the usa generally agree that gambling like this should still be illegal (especially when most other countries allow it?). i'm in the uk and gambling is allowed.

I'm in the USA, and I definitely think it should be discouraged. I think I'd prefer to see social constructs over laws, but the laws do seem to be more effective.

I live in Ohio, and I'm still unhappy with the fact that we voted to change our state constitution a few years back to allow casinos to be built.

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