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Hey, Guys, It's Totally Okay If You Don't Get Rich

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Re: Hey, Guys, It's Totally Okay If You Don't Get Rich

#51
post #13

In my experience, startup founders who want to get rich want it more in order to have the freedom to work on what they want than to impress people. That could be because we prefer startups whose founders include hackers. On the other hand, we don't just prefer that type because they're more fun to hang around with, but because in our opinion they're more likely to succeed.

It's the Mexican fisherman story. Sacrifice your freedom and happiness so that you can get rich so that you can have freedom and happiness. Why not just take the direct route?

"It's the Mexican fisherman story. Sacrifice your freedom and happiness so that you can get rich so that you can have freedom and happiness."

and how do you suppose we do that?

Freedom to me means:

1) not having to work for anyone 2) having enough time to do what I want 3) traveling around the world

You need money to do all of these. To get money, you need to create something that people are willing to pay for, which takes some sacrifices.

You are sacrificing some time and freedom now for complete freedom later.

Re: Hey, Guys, It's Totally Okay If You Don't Get Rich

#52
post #6

Of course it's not ok. At some level getting rich is a life-or-death issue. How do I get enough money to retire? How can I possibly afford health-care? What if I or my lovely wife get cancer? The reality is, the later years of your life are going to be significantly more secure and happier if you make a lot of money.

Don't be silly. She wrote that her friend, "could easily bring in a low six-figure income" If you save wisely, you can retire just fine after a career at a tech company making 2-3x the US median salary. And most companies have good health coverage for the cancer. She is talking about the pressure to make $10M or more through a startup, not getting the money to retire comfortably.

"If you save wisely, you can retire just fine after a career at a tech company making 2-3x the US median salary."

This is a theory at this point...and it's not a well-tested theory. I don't know many people who have actually retired from a lifetime (i.e. 30+ year) career in tech. Considering that the software industry (as we know it) is only about 30 years old, it's hard to draw long-term conclusions.

Re: Hey, Guys, It's Totally Okay If You Don't Get Rich

#53
post #13

In my experience, startup founders who want to get rich want it more in order to have the freedom to work on what they want than to impress people. That could be because we prefer startups whose founders include hackers. On the other hand, we don't just prefer that type because they're more fun to hang around with, but because in our opinion they're more likely to succeed.

I keep hearing this thing about freedom to work on something you want to after getting rich as opposed to something you have to. I'm not sure that Utopian scenario exists.

It sounds charming to be a vintner, writer, film producer, or my personal favorite, travel the world care-free once you have enough money but I'm honestly not sure there's more to it than the charm of it. Time and resources aren't that short that we cannot do what we want to (even if it means in a limited manner) in the present. I have a friend who wants to become a writer (he writes very well, too) but in the mean time wants to make a lot of money by being a Fx Quant so he can "retire" to write full-time. I can't help but think that he is mistaking what it means to be a writer to the idyllic charm of the idea.

My field of view might be limited but I don't know of even half a dozen people who went on to do drastically different things after getting rich, so to speak. They continued doing what they did before, the only difference being that they now had the means that afforded them more diverse experiences. In fact, just recently one of the ten richest men in my city came back to my division to run it after a hiatus of ten years. He is past 60, owns a vineyard, and enough money to outlast five generations. At this age, he comes back to the challenge but grind of trying to turn around a division's fortunes.

The purpose I think comes from industriousness, not in bumming around from one fleeting interest to another because you have money.

Re: Hey, Guys, It's Totally Okay If You Don't Get Rich

#54
post #50
post #12

Without trying to sound like an absolute ass, this article shows EXACTLY why most of the founders of the biggest empires and hottest startups are in fact men. I say MOST as I'm sure there are many women as well, but clearly they are overshadowed by men in this case.

> Without trying to sound like an absolute ass... Some things just come naturally to you I suppose.

"Some things just come naturally to you I suppose."

You just called him an ass. That's rude.

He(?) stated that "most of the founders of the biggest empires and hottest startups are in fact men" which is a fact. He's also speculating that the pressures put on men to get rich is the main cause of this. I see nothing offensive about what he said.

Re: Hey, Guys, It's Totally Okay If You Don't Get Rich

#55
post #6

Of course it's not ok. At some level getting rich is a life-or-death issue. How do I get enough money to retire? How can I possibly afford health-care? What if I or my lovely wife get cancer? The reality is, the later years of your life are going to be significantly more secure and happier if you make a lot of money.

Yes, but the obsession with accumulating money can lead to problems.

Setting a high target for success and working hard to get there are worthy goals for men and women alike but going through life with a perpetually-agitated constitution because you don't attain a result that puts you in the top-1% wealth bracket (for example) is an almost certain way to find yourself unhappy and discontented as you strive to meet your main life goals.

In the midst of the tech bubble, a prominent Valley newspaper ran a feature story in which it interviewed five couples who were each at varying degrees of financial success, from modest to rich. Ironically, it was the rich couple (net worth of approximately $200 million) that was quoted as saying, in response to a question about what they most wanted, "we want to know what it would be like to be worth a billion dollars."

To me, this sort of mindset can be problematic, and the problem becomes one of loss of perspective. When the accumulation of money becomes in itself an obsessive goal, it comes back to bite because, no matter how much one has, it will never be enough. I don't think this is really an issue about the money itself, either - it involves instead the idea that your very perception of your value as a human being somehow becomes defined by how the ciphers add up, and that ultimately represents a sad loss of perspective because you wind up forever measuring your wealth (and what it brings) with what everybody else has.

Money is great when rightly gained and used. So too is ambition and a desire to achieve the ultimate success. It is good to set your goals high. But it is never good to become obsessed about the accumulation of money as an end in itself. Such a goal, even if attained, will sap the life out of anyone who allows money to become his master.

This piece was thought-provoking along these lines, though I think flawed in tying to tie all this to feminist themes. The issue of avarice as a problem is a transcending one that is hardly shaped by gender.

Re: Hey, Guys, It's Totally Okay If You Don't Get Rich

#56
I could careless about money. I'm actually horrible with it. I build things and break a lot of stuff. One thing I have become obsessed about is reaching my goals. Not sure if i'm the only one, but I am terrified of myself. For example, has anyone set a goal in the beginning of the year and then on December 31 reviewed how far they got? A new years resolution? I have gotten very serious about my routines and where they take me. I have been surprised by how hard it is to keep a goal in sight and develop routines that help me reach it. But, so far, my new routine has become my happiness. I wish for all of you the same.

Re: Hey, Guys, It's Totally Okay If You Don't Get Rich

#57
post #50
post #12

Without trying to sound like an absolute ass, this article shows EXACTLY why most of the founders of the biggest empires and hottest startups are in fact men. I say MOST as I'm sure there are many women as well, but clearly they are overshadowed by men in this case.

> Without trying to sound like an absolute ass... Some things just come naturally to you I suppose.

[deleted]

Re: Hey, Guys, It's Totally Okay If You Don't Get Rich

#58
post #3

Well, there's also the issue that the economy refuses to provide honest reliable jobs for honest reliable people... If your dad or mom is a professor, maybe you can get a tenure track job, but if you're anybody else you've got take what's in the marketplace... And "playing it safe" means the odds are 100% that you'll get screwed... The only career path that seems possible of providing any security of all is an "all i…

Not directly related, but as the child of a family that amounts to a dynastic succession of academics, I feel the need to disabuse anyone reading of the impression that there is any connection whatsoever, at all, between having professors for parents and getting a tenure-track position.

As it stands, it's nearly impossible for spouses to exert enough leverage to find academic employment at the same institution. If they're lucky, they'll spend a good deal of their career building up the karma to pull that one off; there isn't anything left over for little Billy.

Re: Hey, Guys, It's Totally Okay If You Don't Get Rich

#60
post #12

Without trying to sound like an absolute ass, this article shows EXACTLY why most of the founders of the biggest empires and hottest startups are in fact men. I say MOST as I'm sure there are many women as well, but clearly they are overshadowed by men in this case.

on the titanic, 46% of women in the 3rd class was saved whereas only 33% of men in the 1st class survived.
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