261–270 of 329 posts
Anyway, to mylynch: Congrats on the sale and on starting a family. Also: Thanks for documenting everything so thoroughly. It's a rare behind the scenes view into how a bootstrapped startup works in the real world. Very valuable for others to learn from your experience!
And my interest is piqued by the Pizookie Trio, whatever that may be...!
Broker commission: $88,900 Legal fees: $18,297 This equates to ~18% of total sale price. Most people don't realize how much get eaten up in deal/closing costs. Congrats to him for the successful exit. Reading his blog post over the years should be eye opening to anyone just how hard starting/running a business is.
A broker is just a middleman between the seller and buyer. What’s the value add for sales like this?
Compare the serverCo offer with the final sale. The difference is the value added by the middle man.
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Are you unemployed? Otherwise, this is just not true. Assuming OP and his wife earn average incomes for academics in the US, they'd pay 2x ~920 USD per month in Germany, totaling 80% more than the premium and only 9% less than the worst case scenario of OP having to pay the full deductible.
Average salary for a full professor in the US is $129K, which would put it closer to $800. That being said, the average professor salary in Germany is around 84,000 Euro, so it's closer to $560 a month. You also ignore that after the high deductible is paid in the US you're still paying co-insurance and co-pays. (I love how US health insurers describe these as "your contribution" to your healthcare costs, as if you w…
"When you sell a business at TinyPilot’s scale, there’s no deposit. You can invest hundreds of hours into preparing reports for due diligence, reveal all your confidential business secrets, and spend thousands of dollars negotiating legal documents and still walk away with nothing if the buyer backs out." Great write up overall but as someone who has bought a couple of businesses, it is not just the seller who loses…
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Holy hell the pessimism in this thread over a life-changing amount of money for 99% of people. > should have stayed at Google You should feel privileged that you've never been "stuck" at a job that you don't find personally interesting and stimulating. Wasting your life to see the number in your bank account increase.
Half a million isn't really that much.
You know it must have been stressful when you were compelled to list your desserts in order. Now that we're almost in June, does it feel like the deal happened a million years ago? I know when stressful things happen and time passes, it always feels like it was so long ago even when it was only a month or 2 back. It was a pleasure having you on a few years ago in the Running in Production podcast: https://runninginpr…
Any plans to get back into it?
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> I now pay $120 for me and my wife for a plan that is better than the $1000 plan through the ACA in Oregon because I'm no longer self employed. Look at box 12 code DD on your W-2. That is the total amount you are paying for your health insurance (it’s just that your employer is paying it directly). It’s still counted in the cost of employing you though, obviously. Assuming you have a silver or gold level plan, total…
It is much lower than what I would pay on ACA.
Health insurance has a 2% profit margin, and premiums are tightly regulated by state insurance commissioners. So a wildly different premium indicates a change in coverage, or a change in the underlying risk pool.
For an annual out of pocket maximum of $10k to $18k and age rating factors capping age 64 premiums to 3x age 21, the minimum bronze/silver monthly premium should be somewhere in the ~$400 to $1,200 depending on age. For example, see NJ’s premiums here:
https://www.nj.gov/dobi/division_insurance/ihcseh/ihcrates20...