"Maed It," Tried to "Retire" and Failed: Taking ?s on my Start Up Experience
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Date: November 13th, 2017 5:21 PM Author: submissive pistol
I think I told my story here once upon a time...if not quick summary is below:
3rd hire at company that was eventually acquired (shade over $100M).
Acquiring company had recap/liquidation event at north of $1B. NewCo just didn't seem like the right fit and that second liquidity event gave me enough to take some time off. Time off sucked and jumped back into the same field.
Happy to talk through lessons learned, reality of this stuff "in the trenches," etc. if anyone's interested.
(http://www.autoadmit.com/thread.php?thread_id=3796110&forum_id=2#34678507) |
Date: November 13th, 2017 5:45 PM Author: sapphire dilemma prole
I'm only worth a couple million from my little company with 0 chance of being acquired so I'm nowhere near you're level, but have you invested your shit in passive income sources at all? You have enough to make a fat pile of tax-exempt money annually just in high yield muni bonds. That way you don't have to dive back into the bullshit and get burned out and bald in the next 3 years
Once that's set up you could dedicate your time to nonprofit work if you need to get your hands dirty. That's more or less a "job" but it can be tailored to be more fulfilling and less rat race bullshit.
(http://www.autoadmit.com/thread.php?thread_id=3796110&forum_id=2#34678696) |
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Date: November 13th, 2017 5:58 PM Author: sapphire dilemma prole
if you take a more active role in your money it will work for you and free up a lot of your time, and I think the active management of it to get it all in place will fill more of your time than you think
example: if you put $3,000,000 into something like PRFHX (https://www3.troweprice.com/fb2/fbkweb/performance.do?ticker=PRFHX), you'd get around 248,550 shares. They pay a tax-exempt dividend of around 3.5 cents per share per month. that's around $8700 a month passive income and leaves you with a huge chunk of money to play with doing other things. and that $8700 is almost completely exempt from income taxes, so you can guess what kind of job you'd need to cop to make that kind of money.
that's like 30 seconds of internet research so there's many more ways to do better than that if you dig for them...
(http://www.autoadmit.com/thread.php?thread_id=3796110&forum_id=2#34678855) |
Date: November 13th, 2017 10:33 PM Author: Yellow duck-like psychic mother
Can I have some ethereum
0x4db54A324f15ECAb69cA878969C13493F2c8d197
Thanks
(http://www.autoadmit.com/thread.php?thread_id=3796110&forum_id=2#34681125) |
Date: November 13th, 2017 10:39 PM Author: excitant flesh corner mediation
Were you in the tech industry? Sounds like you were/are a biz guy.
Do you at all think of yourself as lucky?
I'm in tech, but I'm an engineer. I'm good, but I am frankly not anything special. Making the move to a start up sounds appealing in terms of control over direction, intellectual challenge, and the chance of a windfall. But it's gotta be insanely stressful, and the odds of success are so low.
(http://www.autoadmit.com/thread.php?thread_id=3796110&forum_id=2#34681157) |
Date: November 13th, 2017 10:44 PM Author: Titillating Karate
Congrats.
Was your role in tech, biz or law? Presumably not law as employee #3. Would you be able to give me insight on evaluating an offer from a high-growth startup?
(http://www.autoadmit.com/thread.php?thread_id=3796110&forum_id=2#34681179) |
Date: November 13th, 2017 11:05 PM Author: Garnet big half-breed institution
You're basically where I want to be in a few years and seem kinda sad. I've worked in finance for a while, got an opportunity to build a new business from the ground floor. I also come from humble roots and don't like most rich or even UMC people. My net worth is something around half of yours. Not enough to stop working but I'm trying to get there.
Some unsolicited advice:
I was happiest in life during what I call the pirate ship phase of the whole endeavor. It was just me and another guy trying to make something work. Nobody expected anything of us, beyond not doing anything retarded or straight up illegal. It was fun and carefree. We had nothing to lose. We would fail every single day for months and then suddenly, like shucking an oyster, it clicked & gave way and we started making serious profits.
Holding on to those profits isn't fun at all and is just a constant grind, but I can't walk away. It's way more fun to be on the attack than parrying foes.
I advise you (and me, someday) to find another pirate ship. Surely you know friends doing something interesting. No need to sink all your capital into it. Maybe take an advisory role. Beats cataloging jeans purchases, at least.
(http://www.autoadmit.com/thread.php?thread_id=3796110&forum_id=2#34681318) |
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