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Several thoughts: You could read the article as sour grapes. Like his business didn't reach unicorn valuation, so well, that wasn't his goal in the first place

by cko 9y ago

Several thoughts: You could read the article as sour grapes. Like his business didn't reach unicorn valuation, so well, that wasn't his goal in the first place. I remember seeing a YouTube interview (I believe it was on TWIST) when he claimed there was no hypothetical amount of money he would take (billions, etc) to sell his business. The cynical and greedy part of me found it incredulous. Is this guy in denial? Surely you can take the billions, and find some other project to have fun with? Or is Basecamp his only life calling? The less skeptical side of me envies that mindset. I'm at a point in my life where I clearly have enough. My passive cashflow covers my expenses 3 times over. I'm 31 and If I continue working full-time I'm on par to make $200k next year. But almost every moment of the day I'm obsessed with trying to find my Basecamp. When is it enough? Maybe I should adopt some kids. I hope that didn't sound like my own version of humblebrag - the fact is, I'm dissatisfied and there's no reason I should be.

triangleman 9y ago
Actually there are many reasons not to sell. If someone is offering billions and you think it's worth millions, then either you're right and the buyer is wrong, or the buyer is right and you're wrong. Or the buyer wants to make a risky play on the business you don't think is right. Maybe the buyer is offering illiquid stock or something. In any case, if you enjoy the business you have, and feel it is making enough money, then why would you sell it? It's risky to sell, it could be a mistake for various reasons, seen and unforseen. You're putting your baby in someone else's hands and you will have to find a new job. So that's a big change already. There are many reasons you would want to sell too, of course. Just saying it's not clear cut just because of valuations.

by cko 9y ago

triangleman 9y ago

Actually there are many reasons not to sell. If someone is offering billions and you think it's worth millions, then either you're right and the buyer is wrong, or the buyer is right and you're wrong. Or the buyer wants to make a risky play on the business you don't think is right. Maybe the buyer is offering illiquid stock or something. In any case, if you enjoy the business you have, and feel it is making enough money, then why would you sell it? It's risky to sell, it could be a mistake for various reasons, seen and unforseen. You're putting your baby in someone else's hands and you will have to find a new job. So that's a big change already. There are many reasons you would want to sell too, of course. Just saying it's not clear cut just because of valuations.