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by jjeaff 1254 days ago
The thing is, founders can get fabulously wealthy with a lifestyle business or at least very wealthy, but it might take longer. But all the established money seeking rent parked at VC firms can't get a cut if you don't play ball with them.
2 comments
jrochkind1 1254 days ago
Yeah, wealthy enough if not billionaire, true.

> But all the established money seeking rent parked at VC firms can't get a cut if you don't play ball with them.

OK, but why does a founder care about that? Either they think their business model can't get them to a sustainable lifestyle business without external capital investment... or they want to get more-than-lifestyle-business wealthy, right?

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jjeaff 1251 days ago
I'm sure that's what they think. I don't know if the data really indicates that going to VC route will make you richer. It could certainly make you more publicly successful.
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sirsinsalot 1254 days ago
Millions, even tens of millions, for founders isn't unheard of at all for small "lifestyle" businesses.

Not VC billions, but fuck you money is certainly doable.

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jrochkind1 1254 days ago
I don't know if a couple million is "fuck you" money in 2023 (enough to never work again and eventually retire while living a fairly luxurious lifestyle?), but point taken.
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sirsinsalot 1253 days ago
If you can't say "fuck you" with a couple million in the bank, tax paid, in 2023 then you're living WAY outside your means.
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jrochkind1 1253 days ago
I can say "fuck you" with no money at all, since I can still talk for free!

How much do you need to take a, say, $130K income for the rest of your life? (Which is still not really enough to live at a wealthy luxury standard). Depends on how old you are and how long you'll live, as well as anticipated rates of investment return. But it's almost definitely more than 2 million.

https://www.thekickassentrepreneur.com/never-have-to-work-ag...

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jjeaff 1251 days ago
FU money has nothing to do with living a wealthy lifestyle. It's having all your basic needs taken care of so you don't have to do things you don't want to do to earn money.

See John Goodman in the Big Lebowski for a full definition.

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