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It's a lot easier to stand for your principles and say no to $850M if you already own billions...
by louwrentius 8y ago
It's a lot easier to stand for your principles and say no to $850M if you already own billions...
- bogomipz 8y agoIndeed, how much of a moral stance is it when you only make it on the last billion?
- philipov 8y agoIt isn't a moral stance. This is PR.
- gojomo 8y agoThis story focuses on the Instagram founders. By staying 6 years, they've probably already received all compensation related to the original acquisition, so they're only "saying no" to continued salaries/management-incentives – not "$850M".
- quickthrower2 8y agoAnyone with say ~$2M (give or take a magnitude) could easily say no to more money and be pretty happy, but humans being what they are...
- ImprovedSilence 8y agoHell no, are you crazy! The average Joe needs at least 2.5-3M to retire by 65, let alone 20s or 30s. That number needs upped an order of magnitude. And I'm sure there's plenty of people that would say my number needs upped an order of magnitude too.
- ddingus 8y agoThat all depends on expectations. With just one, I would be set. No worries.
- quickthrower2 8y agoNotice I said 'pretty happy', not retire :-) But if frugal enough why not, should be doable. Assuming no foreign travel etc. yada yada Live somewhere cheap.
- appleiigs 8y agoA bit of math: $3MM x 5% annual return = 150K. On top of that, you could start spending the principal when you get older. Compare that to median household income of US of $60K.
- maceurt 8y agoThat is assuming no interest rate, and that the economy keeps going the way it is going. Also, that is before capital gains tax and/or income tax. Plus it assumes that the economy stays the way it is right now.
- hinkley 8y agoAnd it's easy to look at the poor founders and forget that if you're going to talk about their humanity, then it's pretty crazy to then ignore the fact that they signed a deal to sell all of their employees to Mark Zuckerberg, and not only that but they did it on Valentine's Day weekend. He walked away from $850M. How many of his employees walked away from money and a job they previously liked to get out of that situation?