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I don’t believe that looking out for one’s own interests (“selfish”) is wrong. My dad taught me a valuable lesson as a child- the world owes you nothing and as

I don’t believe that looking out for one’s own interests (“selfish”) is wrong. My dad taught me a valuable lesson as a child- the world owes you nothing and as long as you understand that you'll be fine. I take that to mean that nobody else will look out for you so you have to do what's best for you. In my situation, my employees profited nicely from a PE acquisition. They all got a sizeable transaction bonus. Not only that, they received additional job security with the backing of a large company.

everdrive 8y ago
I'm sure most of HN is aware of where selfish behavior can go wrong. My favorite personal example would be a "tragedy of the commons." For certain, groups where individuals all act in their own self interest sometimes come up with the best solutions for everyone. It bothers me that people believe either maxim must always be true for all circumstances. (this is effectively socialism vs. libertarianism) It seems very clear to me that each camp has supporting examples, and that there are very few universal maxims. Getting back to the main point, I think there have been many instances were selfish private equity has made things worse for people, which does not discount instances where it has made things better.
- leesalminen 8y ago
  Sure, the only things in life that are certain is death and taxes. Nothing else is really that black and white. I still don't believe that a founder doing what's best for them and their family is "wrong". Absolutely, employees should be a concern and a founder looking to be acquired should do whatever possible to ensure a successful future for them as well. But to say that a founder must own a company forever and ever with no chance at ever exiting is not something I can agree with. No hard feelings, but I hope we can both take away here that there are nuances to this topic (and every other topic) and to say that "selfish behavior is wrong" is too extreme a statement.
  - everdrive 8y ago
    No offense taken at all.
  - sparkpy724 8y ago
    >Absolutely, employees should be a concern and a founder looking to be acquired should do whatever possible to ensure a successful future for them as well. Well then selling your company to a PE firm in a Leveraged Buyout is among the worst possible scenarios for your employees so by your own logic this is a bad choice.
mikeash 8y ago
Your dad was half right: the world owes you nothing. Unfortunately, there’s no guarantee that you’ll be fine if you understand that. The universe is a cold, uncaring place. Part of the reason we create societies is to improve on that.
dingaling 8y ago
> the world owes you nothing and as long as you understand that you'll be fine Conversely, without the World you are nothing. You can't survive without the help of others.

everdrive 8y ago

I'm sure most of HN is aware of where selfish behavior can go wrong. My favorite personal example would be a "tragedy of the commons." For certain, groups where individuals all act in their own self interest sometimes come up with the best solutions for everyone. It bothers me that people believe either maxim must always be true for all circumstances. (this is effectively socialism vs. libertarianism) It seems very clear to me that each camp has supporting examples, and that there are very few universal maxims. Getting back to the main point, I think there have been many instances were selfish private equity has made things worse for people, which does not discount instances where it has made things better.

leesalminen 8y ago
Sure, the only things in life that are certain is death and taxes. Nothing else is really that black and white. I still don't believe that a founder doing what's best for them and their family is "wrong". Absolutely, employees should be a concern and a founder looking to be acquired should do whatever possible to ensure a successful future for them as well. But to say that a founder must own a company forever and ever with no chance at ever exiting is not something I can agree with. No hard feelings, but I hope we can both take away here that there are nuances to this topic (and every other topic) and to say that "selfish behavior is wrong" is too extreme a statement.
- everdrive 8y ago
  No offense taken at all.
- sparkpy724 8y ago
  >Absolutely, employees should be a concern and a founder looking to be acquired should do whatever possible to ensure a successful future for them as well. Well then selling your company to a PE firm in a Leveraged Buyout is among the worst possible scenarios for your employees so by your own logic this is a bad choice.

mikeash 8y ago

Your dad was half right: the world owes you nothing. Unfortunately, there’s no guarantee that you’ll be fine if you understand that. The universe is a cold, uncaring place. Part of the reason we create societies is to improve on that.

dingaling 8y ago

> the world owes you nothing and as long as you understand that you'll be fine Conversely, without the World you are nothing. You can't survive without the help of others.