Power is a very fundamental motivation, maybe the most fundamental one[1], and I think a lot of people regret selling their companies because they think they want things you're supposed to want, like comfort and leisure, when they really want power.
I regret selling my startup
111–120 of 158 posts
Re: I regret selling my startup
#112I don't know why people are so negative in the comments or overthinking what the author wanted to say, when it's pretty clear. Running the company is what made him tick, made him feel alive, and ultimately made him happy. He's cashed out, but sitting around thumb twiddling and maintaining the pile of cash might be an ok life, might make some people happy, but it's not making him happy. There's nothing wrong with any…
Yet Person A, who just sold his startup and is sitting on $10M is objectively better off than Person B, who is making $200K a year at a normal job in tech. All other intangible things being equal, Person A's wealth will earn him $2-400K a year just sitting there doing nothing, giving him the choice to go get a normal job if desired, or not, or do anything he wants to do for fun, or not. That startup sale bought him the option to do whatever "makes him tick, makes him feel alive, and ultimately makes him happy" Whereas Person B has no option--if he wants to keep his $200K lifestyle he needs to keep grinding.
I'd trade places with Person A any time!
Re: I regret selling my startup
#113Power is a very fundamental motivation, maybe the most fundamental one[1], and I think a lot of people regret selling their companies because they think they want things you're supposed to want, like comfort and leisure, when they really want power. [1]: https://en.wikipedia.org/wiki/Will_to_power
I think it's actually a sense of purpose
Re: I regret selling my startup
#114I don't know why people are so negative in the comments or overthinking what the author wanted to say, when it's pretty clear. Running the company is what made him tick, made him feel alive, and ultimately made him happy. He's cashed out, but sitting around thumb twiddling and maintaining the pile of cash might be an ok life, might make some people happy, but it's not making him happy. There's nothing wrong with any…
Yet Person A, who just sold his startup and is sitting on $10M is objectively better off than Person B, who is making $200K a year at a normal job in tech. All other intangible things being equal, Person A's wealth will earn him $2-400K a year just sitting there doing nothing, giving him the choice to go get a normal job if desired, or not, or do anything he wants to do for fun, or not. That startup sale bought him t…
You assume you can buy happiness. Person A is not objectively better off, they're financially better off. Happiness isn't determined solely by bank balance.
If what made him tick was a sense of purpose, of seeing the company he founded continue to grow there aren't many options apart from go back to the company, found a new one, or ??? Maybe option 2 is too much work, and without the carrot of a big payoff he'd lack the drive.
You'd happily trade places because you believe money buys happiness. This person has learnt it does not.
Re: I regret selling my startup
#115Earlier quoted context omitted.
Re: building again... For some people, they don't have the same drive once they've done it once and were successful. I've got friends who were incredible operators for their first N companies, because they were hungry, but then after a big cashout they started to suck at their N+1st attempts. They make mistakes like being unwilling to start small, feeling like they should be Respected(TM) and that getting in the way…
It is also hard, and can take a mental and physical toll on you.
And plus, what's the point? Most people work for money. But that's satisfying our needs. If you already have a cash pile though, you actually need to find a way of making a difference again to keep getting out of bed. I think that's much harder. Some people never find their passion.
Re: I regret selling my startup
#116Power is a very fundamental motivation, maybe the most fundamental one[1], and I think a lot of people regret selling their companies because they think they want things you're supposed to want, like comfort and leisure, when they really want power. [1]: https://en.wikipedia.org/wiki/Will_to_power
Phrasing it as power makes it sound negative. As the other comment says, it could be a sense of purpose, or having respect (which is power but in its human form), or just keeping busy.
If I were a millionaire, I know I’d keep my work just to be busy. I know it because I’m a millionaire. And I certainly don’t want all those negative thoughts.
Re: I regret selling my startup
#117Earlier quoted context omitted.
Yet Person A, who just sold his startup and is sitting on $10M is objectively better off than Person B, who is making $200K a year at a normal job in tech. All other intangible things being equal, Person A's wealth will earn him $2-400K a year just sitting there doing nothing, giving him the choice to go get a normal job if desired, or not, or do anything he wants to do for fun, or not. That startup sale bought him t…
You assume you can buy happiness. Person A is not objectively better off, they're financially better off. Happiness isn't determined solely by bank balance. If what made him tick was a sense of purpose, of seeing the company he founded continue to grow there aren't many options apart from go back to the company, found a new one, or ??? Maybe option 2 is too much work, and without the carrot of a big payoff he'd lack…
Money buys you the option to opt out of the things that don't bring you happiness and to go do whatever it is that does bring you happiness. For this guy, maybe it's "do another startup." Great! With $10M in the bank, he can just go do that! For me, I could quit my job (which does not bring me happiness) and maybe build a sailboat... or travel... or raise a family... Or whatever makes me happy. That's the option that money buys.
Re: I regret selling my startup
#118Earlier quoted context omitted.
How many million are we talking about? Because if you cash out for 4 million, 2 million of that is a decent new house in a major city, and not some water front property, but a cookie cutter above average new build. Now you have 2 million left, which, to be honest, if you are just living off of index fund earnings, isn't all that much. Figure 7% growth per year, and you need to set aside 3% of that to grow the fund, y…
If it takes 2 million to get you a “decent” house, you’re already playing the status games that will have you chasing money forever.
Not if you want to live in a good neighborhood in a major city.
Re: I regret selling my startup
#119Earlier quoted context omitted.
You assume you can buy happiness. Person A is not objectively better off, they're financially better off. Happiness isn't determined solely by bank balance. If what made him tick was a sense of purpose, of seeing the company he founded continue to grow there aren't many options apart from go back to the company, found a new one, or ??? Maybe option 2 is too much work, and without the carrot of a big payoff he'd lack…
Money buys you the option to opt out of the things that don't bring you happiness and to go do whatever it is that does bring you happiness. For this guy, maybe it's "do another startup." Great! With $10M in the bank, he can just go do that! For me, I could quit my job (which does not bring me happiness) and maybe build a sailboat... or travel... or raise a family... Or whatever makes me happy. That's the option that…
The phrase "Mo money, mo problems" didn't come out nowhere. Sure, you can leverage the money to do things that could bring you happiness but you have no idea the long term effects (potentially subliminal) of having more.
Re: I regret selling my startup
#120> What you don't know is that when you have a pile of money, you turn into a dragon. The goal becomes to sit on the pile of money and make sure it doesn't get smaller, and ideally grows on its own. Is this universal? If I had at least a several-million post-tax windfall, I think I'd buy a nice home and maybe a little beach house, put the rest in index funds, and spend my time being healthy, and building particular op…
Like any engineer, I know more than a few instant-millionaires. The ones who were capable of being happy before money continue to be capable of being happy. They had sources of self-worth outside of money, social connections outside the office or hanging with their startup bros, and interests that are intrinsically satisfying even if they are not profitable. You don't need all of the above, but you do need at least o…
Almost all of my problems can be immediately solved with large amounts of money. Those that cannot will certainly be made more bearable by the simple fact that I have a lot less to worry about, and that I will have more mental and emotional resources available to deal with them.
Money will _absolutely_ buy happiness. Whoever tells you otherwise is fooling you.