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It's not clear what this person actually did. It sounds like it's his employees/partners did all the work.
Got 150k seed, landed a 40k contract without a product. As for team, he convinced a potential cofounder to sell his house and move across the country and hired his ex-boss, just to start
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Caveat: all-stock transaction.
$15B in all stock = $15B in collateral = as much cash as you can conceivably wish for in your wildest dreams. "Hey, bank manager, I have $15B in stocks, will you loan me $150 million to buy this really, really nice home in Malibu?" Bank manager: "Yesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyes"
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$15B in all stock = $15B in collateral = as much cash as you can conceivably wish for in your wildest dreams. "Hey, bank manager, I have $15B in stocks, will you loan me $150 million to buy this really, really nice home in Malibu?" Bank manager: "Yesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyes"
The stock may very well crater in value all the way to 0, but the loan must still be paid, with interest and all.
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You make it sound like getting a well paying, interesting, low-stress job is a total cake walk. For most of us it's not. I also love how someone inevitably trots out the "just invest $ at % for ". Nothing is giving you guarenteed 8% post tax returns, and you might want to, I don't know, buy a house in the next 30 years.
Genuinely curious...Why is it that "most of us" it's not? Because you don't like in the US? Or you live in an area w/ limited tech jobs? Or is it that you believe that all 3 criteria is unattainable? 8%...how is that over 30 years unrealistic? That is the historical going rate for the S&P since its inception... Also I don't know why you threw in the words "post tax" as if it means something for dollar cost averaging.…
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Genuinely curious...Why is it that "most of us" it's not? Because you don't like in the US? Or you live in an area w/ limited tech jobs? Or is it that you believe that all 3 criteria is unattainable? 8%...how is that over 30 years unrealistic? That is the historical going rate for the S&P since its inception... Also I don't know why you threw in the words "post tax" as if it means something for dollar cost averaging.…
past returns are not indicators of future ones
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$15B in all stock = $15B in collateral = as much cash as you can conceivably wish for in your wildest dreams. "Hey, bank manager, I have $15B in stocks, will you loan me $150 million to buy this really, really nice home in Malibu?" Bank manager: "Yesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyes"
The stock may very well crater in value all the way to 0, but the loan must still be paid, with interest and all.
[0] https://www.investopedia.com/ask/answers/08/nonrecourse-loan...
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$15B in all stock = $15B in collateral = as much cash as you can conceivably wish for in your wildest dreams. "Hey, bank manager, I have $15B in stocks, will you loan me $150 million to buy this really, really nice home in Malibu?" Bank manager: "Yesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyes"
The stock may very well crater in value all the way to 0, but the loan must still be paid, with interest and all.
My point remains the same. The whole "has it in paper" as if that has no relation to cash, is not correct. Having stock is the exact same as having cash. Actually, it is way better. Because if you get cash, you have to pay taxes on it, so on $15 billion, that would be $5 billion in taxes, let's say. But if you get stock, then there's no taxes, but you get to borrow against it and get the cash anyways, as much as you need.
Sure, it might go to zero, but that's a pretty lame argument.
This is a kind of writing I think of as Silicon Valley mythos - in it, a plucky entrepreneur, a lucky angel investor and a hacker get together, and fail their way into an IPO. At the end they tell the reader he just needs to believe in himself more, and the SV myth will come true for him. There’s a lot of hate in the comments here, but I am personally more equivocal - it is definitely true that absolutely no centimil…
> centimillion hectomillion, surely :) ? https://www.nist.gov/pml/weights-and-measures/metric-si-pref...
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Yeah, this is the bulls^H^H^H^H^Hstory that perpetuates that mythos, too. > persist and get lucky with a good team and a good market angle at the right time - is a very potent moral. What we should take away is that there is money to be wasted. A lot of money (which is not going into employees pockets). If someone was willing to give a billion dollars for a press of a bag of juice that could be squeezed by hand, a us…
A tangent but I think it is a useful behavior to never assume people are stupid or crazy (even if they obviously must be sometimes). The reason is that it’s at best uninformative and at worst just plain wrong. Instead I would suggest imagining that people are perfectly rational within the limits of their information and ability to reason, and consider what beliefs they could have had that motivated their behavior.
I am just commenting on the greed of capitalists that manifests in throwing around millions and billions of dollars.