3 ms·
This article pisses me off. This is certainly a giant windfall, but Reid is already wealthy and has shown that he doesn't fall into the ridiculous sensationalis
by briggsbio 15y ago
This article pisses me off. This is certainly a giant windfall, but Reid is already wealthy and has shown that he doesn't fall into the ridiculous sensationalist stereotypes proffered by this moronic journalist. And he's been building this company for 8 fricking years! Hoffman one of the most visionary and prolific angel investors and (never met but hear he is) a fantastic person.
He had a substantial exit when one of the largest internet acquisitions happened with PayPal (anyone know his total take?). And with his stake in Facebook he's had "paper X00 millionaire" status for quite a while. And Zynga? And about a hundred other angel investments? Not to mention that with the liquidity now afforded by the secondary markets, the term "paper millionaire" is ringing a bit hollow when talking about the elite consumer Internet companies who have active demand in SecondMarket and the like.
So to characterize him as this rags to riches story illustrative of the flash-in-the-pan excess of some new dot-com "bubble.0" is frankly disgusting.
Oh, and to answer the journalist's question of what to do with all that money? Do what Reid has done, and usher in the next generation of successful startups (with surely some casualties along the way, but hey, that's investing).