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Yeah, I think it’s the shape of the transition that makes the difference, and even then it can be weird. If you’re an executive at a large company, you’ve spen
by philwelch 5y ago
Yeah, I think it’s the shape of the transition that makes the difference, and even then it can be weird.
If you’re an executive at a large company, you’ve spent so much time working on that that your social circle has changed. Even if you’re a startup founder, you’re not surrounded by the kids you went to high school with, you’re surrounded by enough other rich people that they aren’t gonna mooch off of you.
Winning the lottery is more like a rookie in a professional sports league signing their first contract. Sometimes that works out fine—they buy their mom a house and a new car—and sometimes they go broke supporting an entire entourage.
- ghaff 5y agoGood comments. As an extremely wealthy person or the very visible CEO of a company/division that stirs a lot of passion, you may want security against the nut cases. (I have some knowledge of this from trade shows.) But for someone who has "just" become 8 figures wealthy over the course of their career, they may have some family branch that resents it but their relative success isn't an out of the blue thing. And CEOs are pretty good about saying no to people who want money for things.