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RxBar co-founder Peter Rahal on life after becoming a millionaire

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Re: RxBar co-founder Peter Rahal on life after becoming a millionaire

#151
post #133

If this article was trying to depict this man as thuroughl vain and void of humanity it could not have done a better job. He moved to Miami Beach to avoid paying taxes? This hundreds of millionaire couldn't just move to a place he liked because he was worried about his marginal tax rate? He bought a house that's empty and has accoutrements for a lifestyle he doesn't have or plan to have. This is a person buying somet…

I think you do have a point about him trying to buy what you are "supposed" to buy once you are wealthy. However, I think that your robot criticism of entrepreneurs is unfair. Street sweepers, cashiers at a grocery store, McDonald's employees are doing work that is way more repetitive than what an average entrepreneur does, yet you wouldn't call them robot-like, would you?

When I say robotic I'm not referring to the reptitiveness of the work.

I'm talking about the singularity of focus and mind founders often posses for things that are utterly mundane. Making an energy bar is surely exciting at first. Creating recipes, working out deals to sell them, building a brand.

But at a certain point your energy bar is about as good as any other. And it tastes as good as any other. And your branding is as good as any other.

And the only thing that really differentiates you is how well you can wedge your prybar into the market. That work is really mundane but there is a type of person that thrives doing that.

I've known a few people in this situation and many of them are like this guy. When the struggle is over, the mission is achieved and they just kind of shut down.

They've spent so much time obsessing over how to sell a freaking energy bar that they've never developed themselves or their passion.

Re: RxBar co-founder Peter Rahal on life after becoming a millionaire

#152
post #46

Earlier quoted context omitted.

I think the whole thing boils down to the idea that, someone who manages to make this much money on pure ambition, hard work, and yes, a decent amount of luck and being in the right place in the right time - well, they’re not likely to be able to enjoy this amount of wealth. They ground it out in a way that I can’t even imagine having the energy to do. I’m a relatively lazy 9-5er who basically refuses to work past 5:…

I'm with you all the way on this one. There are so many more interesting things to do than work. Yes, the old adage is do what you love and you'll never work a day in your life. Problem is what I love to do: relax, enjoy time with my family, read, watch Star Trek reruns... pays squat.

I mean, I haven’t even gotten through all of deep space nine because I haven’t had the time! Because of work!

Re: RxBar co-founder Peter Rahal on life after becoming a millionaire

#153
post #84

Earlier quoted context omitted.

Spot on. People also don't realize that spending money effectively is a skill. $1000 bottles of champagne are for those that lack creativity with how to deploy their capital. Those of us who practice conscious spending can derive significant joy from money.

Out of curiosity, can you give some examples of spending money effectively?

Nice property, investing in an interesting and potentially business venture, buying $1000 fundraising tables with local politicians, buying an artist you like who has potential to become collectable, buying a car and learning how to maintain it, home or garden upgrades, a degree in something you are interested in, .

Happy to help you spend your hard earned dollars ;)

Re: RxBar co-founder Peter Rahal on life after becoming a millionaire

#154
post #51

I don't like articles like this for two reasons: (1) they trivialize actually building a company, growing it, and selling it, and (2), they provide comfort for those that don't have the drive/luck/privilege of getting there by arguing that "hey, money doesn't make you happy!" First of all, as others mention in the thread, this is hardly an example of an "overnight success" -- there are no such examples, barring a few…

Agreed. I also grew up poor and now live comfortably. Having my own place with no roommates (or mentally ill family members screaming at me) brings me a lot of peace. Being able to just uber somewhere when I have an appointment but feel too tired to take public transit for 45 minutes makes my life easier. There are a lot of problems in life that you can make disappear (or simplify a lot) by throwing a little money at…

This 100%. I also grew up poor and having a certain amount of money alleviates a ton of problems and people don’t realize how taxing day to day survival can be in the modern economy with not enough. It is pure survival mode until you reach a threshold.

Re: RxBar co-founder Peter Rahal on life after becoming a millionaire

#155

Just means you are responsible for deploying more liquid capital into productive assets. Have fun finding those. If you are creative and a builder, the people who made you what you are were the ones who told you "no," and now there are a lot fewer of those once they think you have money. Barring a few quality of life things and some freedom, the rest is just symbols and artifacts. That bit about finding a woman who w…

> That bit about finding a woman who will love him for who he is inside and not for his money is silly. In case he hasn't noticed, who he is inside is also now richer than croesus as well. That's not who he is inside. As Gabriel Garcia Marquez said, "I am not rich. I am a poor man with money, which is not the same thing." And if money isn't really part of his internal identity, if he sees it as something kind of sepa…

Re: Marquez, if he is merely a poor man with money, why, given the options, should someone want a man who identifies as poor, and still again in spite of having money?

Further, why make the long bet on a guy who got what he wanted and is still unhappy. The "gold digging," accusation seems like sour grapes to me.

If you are newly wealthy but are preoccupied with ideas like this, get thee to a wealth manager who will tie up your money, either in a trust and a directed giving fund, or a some hedge funds with a lock in period, or get you participation in VC funds with people whose judgment you respect.

Seriously, what really smart thing were you planning on doing with it?

If you didn't have a plan, let me introduce you to some yacht brokers, because so long as the boat costs you less than half your net worth, I assure you it's a better financial plan than finding true love.

Re: RxBar co-founder Peter Rahal on life after becoming a millionaire

#156

Earlier quoted context omitted.

> That bit about finding a woman who will love him for who he is inside and not for his money is silly. In case he hasn't noticed, who he is inside is also now richer than croesus as well. That's not who he is inside. As Gabriel Garcia Marquez said, "I am not rich. I am a poor man with money, which is not the same thing." And if money isn't really part of his internal identity, if he sees it as something kind of sepa…

Re: Marquez, if he is merely a poor man with money, why, given the options, should someone want a man who identifies as poor, and still again in spite of having money? Further, why make the long bet on a guy who got what he wanted and is still unhappy. The "gold digging," accusation seems like sour grapes to me. If you are newly wealthy but are preoccupied with ideas like this, get thee to a wealth manager who will t…

> so long as the boat costs you less than half your net worth, I assure you it's a better financial plan than finding true love.

Now who's doing sour grapes?

Re: RxBar co-founder Peter Rahal on life after becoming a millionaire

#157

Earlier quoted context omitted.

Re: Marquez, if he is merely a poor man with money, why, given the options, should someone want a man who identifies as poor, and still again in spite of having money? Further, why make the long bet on a guy who got what he wanted and is still unhappy. The "gold digging," accusation seems like sour grapes to me. If you are newly wealthy but are preoccupied with ideas like this, get thee to a wealth manager who will t…

> so long as the boat costs you less than half your net worth, I assure you it's a better financial plan than finding true love. Now who's doing sour grapes?

So, it was a joke, however I think it was Jane Austen who said something along the lines of, "It is a truth universally acknowledged, that a single man in possession of a super yacht, must be in want of a wife..” which I'm totally sure is true.

Re: RxBar co-founder Peter Rahal on life after becoming a millionaire

#158
post #73
post #51

I don't like articles like this for two reasons: (1) they trivialize actually building a company, growing it, and selling it, and (2), they provide comfort for those that don't have the drive/luck/privilege of getting there by arguing that "hey, money doesn't make you happy!" First of all, as others mention in the thread, this is hardly an example of an "overnight success" -- there are no such examples, barring a few…

I really dislike that the saying is "money doesn't buy happiness." In German it is much more sensible: "Money alone doesn't make you happy." Which emphasizes the role of money as part of the formula.

"Geld allein macht nicht glücklich", (for the curious). Aber, es hilft sehr ;)

Re: RxBar co-founder Peter Rahal on life after becoming a millionaire

#159
post #149

Earlier quoted context omitted.

Writing novels while you're dirt poor and riding a train to your low paying job does not count as "drive"? I would love to hear your definition of "drive" then.

By her own words she took five years to write the first book, but mostly wrote it while unemployed at coffee shops. Ignoring her later success, most unemployed people sitting around coffee shops writing are considered to have low drive. I mean if you think she qualifies that’s fine, but kind of lowers the bar to irrelevance.

[deleted]

Re: RxBar co-founder Peter Rahal on life after becoming a millionaire

#160
post #51

I don't like articles like this for two reasons: (1) they trivialize actually building a company, growing it, and selling it, and (2), they provide comfort for those that don't have the drive/luck/privilege of getting there by arguing that "hey, money doesn't make you happy!" First of all, as others mention in the thread, this is hardly an example of an "overnight success" -- there are no such examples, barring a few…

I think if happiness was a function of money, then it would very much look like the sigmoid / logistic function. You have a linear region where there's a very dramatic relationship between money and happiness (a $100k salary makes life so much easier than a $30k salary), but there's very small difference at the different ends...a $5k salary will not improve your life much over a $500 salary, even though there's an or…

I agree with your premise on the higher end but a $500 and $5000 salary are dramatically different. You won’t go hungry on 5k if you are frugal while $500 could kill you.
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