31–40 of 65 posts
We all find meaning in our work - entrepreneurs almost doubly so - and that 'meaning' is one of the biggest components of our individual happiness. When you 'exit' your startup you also exit that 'meaning' - and then there is no choice rather than to go back find it all over again.
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"Once you reach this point everything else is about being able to make your own choices, not being backed into a corner because you have bills to pay." You're an individual. You can already make your own choices. My big problem with this whole "FU" money concept, and your thought I quoted above, is that people seem to think they need to get this opportunity from someone else. That someone else gives them the opportun…
My big problem with this whole "FU" money concept, and your thought I quoted above, is that people seem to think they need to get this opportunity from someone else. That makes no sense. Of course you need to get that opportunity from someone else: your customers, your family, your investors, or your buyer, whoever is handing you the money you need to meet your needs. At the end of the day, if someone else hasn't giv…
Just because something takes a million dollars to do, doesn't mean that it has to be your million dollars.
I think Jason Fried's just saying "Be relentlessly resourceful" in a different way. You don't need anything like lack of personal money to stop you from doing what you want to do.
It's odd to me how many on HN readily accepted pg's "Be relentlessly resourceful" idea, but when it comes to the idea in a different form, how many rally against it.
"Be relentlessly resourceful" applies to things beyond startups, from paying your kids' tuitions, getting to drink mojitos on an island, and pursuing your economically unviable project.
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Will college tuitions be more than a million or two? Perhaps if the education bubble never bursts. Or if you have more than five kids. Regardless, his article compares owning your own business with a million or two trickling in instead of $40 million (or more) all at once. The comparison isn't at all about the starving artist or inventor doing what he loves vs a big pay out. If you're doing what you like and you're e…
> If you're doing what you like and you're earning a mil or two a year (or well on your way), why sell out all at once for $40 mil? Let's say $2m/year - a sellout now at $40m is 20 years (if we (unrealistically) discount inflation and interest etc.). You love what you're doing, but who knows what everything's gonna look like in 2-3-4 years, much less 20 ? Google might decide that DHH is a punk and make improved clone…
That freedom often times is the same place you just came from, which shouldn't be that surprising. The term "serial entrepreneur" exists because there are enough of them. The thing that drove them the first time isn't likely to go away. Although I'd imagine most of the end up with a better work/life balance than they did during their first successful endeavor.
Earlier quoted context omitted.
Will college tuitions be more than a million or two? Perhaps if the education bubble never bursts. Or if you have more than five kids. Regardless, his article compares owning your own business with a million or two trickling in instead of $40 million (or more) all at once. The comparison isn't at all about the starving artist or inventor doing what he loves vs a big pay out. If you're doing what you like and you're e…
"If you're doing what you like and you're earning a mil or two a year (or well on your way), why sell out all at once for $40 mil?" Liquidity. Future success is not guaranteed. I don't think anyone sells their business so they never have to use their brain again, which is the premise of "mojito island."
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> If you're doing what you like and you're earning a mil or two a year (or well on your way), why sell out all at once for $40 mil? Let's say $2m/year - a sellout now at $40m is 20 years (if we (unrealistically) discount inflation and interest etc.). You love what you're doing, but who knows what everything's gonna look like in 2-3-4 years, much less 20 ? Google might decide that DHH is a punk and make improved clone…
I know MBA's aren't the most popular people around these parts, but they do get Net Present Value. Basically, you need to discount the value of future earnings relative to current cash flow. http://en.wikipedia.org/wiki/Net_present_value
MBA or not, NPV (and the derived methods) are incredible useful tools in financial planning and decision-making for any business.
In short, the bliss of selling and giving up your business is overrated. It’s a long life and it’s often best spent enduring the ups and downs of pursuing something of significance. Don’t be so eager to give it up. Hmm. Recent posts seem to be 37Signals attempting to rationalize their business model vs. recent sell outs for large amounts of money. I'll stand up and say I'd happily take a $40m pay out so that I could…
"I'll stand up and say I'd happily take a $40m pay out so that I could be completely financially secure and get to do what I want." I agree. Just because you cash out doesn't mean you have to retire.
In this thread http://news.ycombinator.com/item?id=829583 Jason from 37signals said they'd have a post that FU money is a myth. I hope this isn't it. The point of FU money isn't that you'd actually quit everything and walk away. Its about the ABILITY to do so. Once you reach this point everything else is about being able to make your own choices, not being backed into a corner because you have bills to pay.
FU money simply means you have a guaranteed salary, no matter what. It has nothing to do with retiring. And I think it's a completely valid dream to have.
Earlier quoted context omitted.
My big problem with this whole "FU" money concept, and your thought I quoted above, is that people seem to think they need to get this opportunity from someone else. That makes no sense. Of course you need to get that opportunity from someone else: your customers, your family, your investors, or your buyer, whoever is handing you the money you need to meet your needs. At the end of the day, if someone else hasn't giv…
While in the literal sense, you get opportunity from others, I think people get stuck in a mode of thinking that they need to get lots of money to pursue some vision or objective that they want. It becomes a mental barrier where they say, "I can't do this because I don't have a million dollars" Where in truth, there's more than one way to skin a cat. Just because something takes a million dollars to do, doesn't mean…
Earlier quoted context omitted.
"I'll stand up and say I'd happily take a $40m pay out so that I could be completely financially secure and get to do what I want." I agree. Just because you cash out doesn't mean you have to retire.
Are people sure that the principals at 37s haven't just taken $40M out of earnings? Selling your company isn't the only way to get paid.