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Wow. Assuming he put in just $10,000 (and I imagine it was probably more than that), 6000x return would be 60 million dollars. Any early companies out there ri

Wow. Assuming he put in just $10,000 (and I imagine it was probably more than that), 6000x return would be 60 million dollars. Any early companies out there right now seem like it could potentially offer even a 10th of that in ~5-10 years?

pinkybanana 6y ago
Well I bought BTC at $1 and so did many others, now it trades at $60k...
- KitDuncan 6y ago
  but did you hold it this long?
- randomopining 6y ago
  Did you cash in and get filthy rich? Or sell too early and mad ragrets.
  - hndamien 6y ago
    Rich with ragrets rather than filthy rich.
    - randomopining 6y ago
      Damn, no ragrets. Yo but how does it feel to be moderately rich off of crypto? I wonder if anything would change besides not having to work.
      - hndamien 6y ago
        This is the biggest difference. Just not a constant stress of keeping up to ensure survival and fulfilment for the family. Now I wonder how best to allocate time and capital, and I have not come up with good answers yet, so I'm still working until I have a better answer. So really all that has changed is mental space has less stress, and I have a much more appropriate family car.
- deleted 6y ago
  [deleted]
maxlamb 6y ago
He actually put in $300k, so his shares are worth around 2.4 billion now
- janandonly 6y ago
  Did he? If he simply bought bitcoins with his $300.000 in 2012 (average bitcoin price of $8) then his net worth now would be .... 37500 bitcoins or $2.362.500.000 ... 2 point 3 billion frigging dollars...
  - pinkybanana 6y ago
    It is actually interesting thought pattern, which would be better investment? With owning private equity there is also lots of work involved I would guess, with BTC you just sit on it... Latter is of course very hard in volatile market, while PE you probably can't liquidate.
  - lpapez 6y ago
    In theory yes. In practice, cashing out billions of dollars worth of stocks is easier than cashing out billions of dollars worth of crypto.
    - rawtxapp 6y ago
      You wouldn't be selling those on the open market, institutions have been able to acquire billions of dollars worth of crypto OTC without moving markets. Another option is, now that it's becoming clear to people that Bitcoin is here to stay, you can just borrow against it to spend (avoid taxes, hold on to the upside). Case in point, this person/group borrowed 300M$ with about 1B$ net worth[1]. 1: https://defiexplore.com/cdp/8463 https://defiexplore.com/cdp/8463
      - pushrax 6y ago
        I'm new to this. Is the collateral locked into the contract and unspendable until the contract is closed? It's also kind of unclear what the interest is from that page. edit: apparently it's 8.5% https://mkr.tools/governance/stabilityfee https://mkr.tools/governance/stabilityfee
paulpauper 6y ago
i dunno how people say VCs have a return of only 9% year when Ycombinator is absolutely crushing that even with a high failure rate. AirBNB, box, dropbox, coinbase, etc. Paul stumbled on an absolute goldmine by just giving a bunch of promising companies with good founders 10k in exchange for a decent portion of equity and then some of these companies being worth billions. NOw you know what those homes and are so expensive in Palo Also and elsehwre, You got of these guys making fortunes, and that money tricked down everywhere.
- mgfist 6y ago
  There are a lot of VCs out there. Some do well, some don't. But remember that unlike the stock market, investing in a VC means locking up your money for 10 years. Slightly beating the market is not worth the liquidity loss, you have to do a good bit better.
  - cableshaft 6y ago
    Yeah I get it, assuming I did it (which is a big, big if, I don't really trust my judgement to pick winning companies or there being some legal jiggery pokery or bad luck that makes me get nothing or almost nothing back), it would be something I do in addition to buying crypto/gold/silver and putting money into a 401k.
- ZephyrBlu 6y ago
  > i dunno how people say VCs have a return of only 9% year when Ycombinator is absolutely crushing that even with a high failure rate YC is a massive outlier and they have insanely good deal flow because of their brand.
  - jm20 6y ago
    *and the people running it. The brand comes from the success of the companies which comes, in large part, because of the partners and network. You won't find a better group of truly qualified, highly accomplished people giving advice to startups, holding talks for cohorts, etc. in any other accelerator anywhere, period.

pinkybanana 6y ago

Well I bought BTC at $1 and so did many others, now it trades at $60k...

KitDuncan 6y ago
but did you hold it this long?
randomopining 6y ago
Did you cash in and get filthy rich? Or sell too early and mad ragrets.
- hndamien 6y ago
  Rich with ragrets rather than filthy rich.
  - randomopining 6y ago
    Damn, no ragrets. Yo but how does it feel to be moderately rich off of crypto? I wonder if anything would change besides not having to work.
    - hndamien 6y ago
      This is the biggest difference. Just not a constant stress of keeping up to ensure survival and fulfilment for the family. Now I wonder how best to allocate time and capital, and I have not come up with good answers yet, so I'm still working until I have a better answer. So really all that has changed is mental space has less stress, and I have a much more appropriate family car.
deleted 6y ago
[deleted]

maxlamb 6y ago

He actually put in $300k, so his shares are worth around 2.4 billion now

janandonly 6y ago
Did he? If he simply bought bitcoins with his $300.000 in 2012 (average bitcoin price of $8) then his net worth now would be .... 37500 bitcoins or $2.362.500.000 ... 2 point 3 billion frigging dollars...
- pinkybanana 6y ago
  It is actually interesting thought pattern, which would be better investment? With owning private equity there is also lots of work involved I would guess, with BTC you just sit on it... Latter is of course very hard in volatile market, while PE you probably can't liquidate.
- lpapez 6y ago
  In theory yes. In practice, cashing out billions of dollars worth of stocks is easier than cashing out billions of dollars worth of crypto.
  - rawtxapp 6y ago
    You wouldn't be selling those on the open market, institutions have been able to acquire billions of dollars worth of crypto OTC without moving markets. Another option is, now that it's becoming clear to people that Bitcoin is here to stay, you can just borrow against it to spend (avoid taxes, hold on to the upside). Case in point, this person/group borrowed 300M$ with about 1B$ net worth[1]. 1: https://defiexplore.com/cdp/8463 https://defiexplore.com/cdp/8463
    - pushrax 6y ago
      I'm new to this. Is the collateral locked into the contract and unspendable until the contract is closed? It's also kind of unclear what the interest is from that page. edit: apparently it's 8.5% https://mkr.tools/governance/stabilityfee https://mkr.tools/governance/stabilityfee

paulpauper 6y ago

i dunno how people say VCs have a return of only 9% year when Ycombinator is absolutely crushing that even with a high failure rate. AirBNB, box, dropbox, coinbase, etc. Paul stumbled on an absolute goldmine by just giving a bunch of promising companies with good founders 10k in exchange for a decent portion of equity and then some of these companies being worth billions. NOw you know what those homes and are so expensive in Palo Also and elsehwre, You got of these guys making fortunes, and that money tricked down everywhere.

mgfist 6y ago
There are a lot of VCs out there. Some do well, some don't. But remember that unlike the stock market, investing in a VC means locking up your money for 10 years. Slightly beating the market is not worth the liquidity loss, you have to do a good bit better.
- cableshaft 6y ago
  Yeah I get it, assuming I did it (which is a big, big if, I don't really trust my judgement to pick winning companies or there being some legal jiggery pokery or bad luck that makes me get nothing or almost nothing back), it would be something I do in addition to buying crypto/gold/silver and putting money into a 401k.
ZephyrBlu 6y ago
> i dunno how people say VCs have a return of only 9% year when Ycombinator is absolutely crushing that even with a high failure rate YC is a massive outlier and they have insanely good deal flow because of their brand.
- jm20 6y ago
  *and the people running it. The brand comes from the success of the companies which comes, in large part, because of the partners and network. You won't find a better group of truly qualified, highly accomplished people giving advice to startups, holding talks for cohorts, etc. in any other accelerator anywhere, period.