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Totally agree but this is an unfortunately common behavior. During the dot-com boom many people picked up hugely expensive homes based upon the the perceived v
by moocow01 15y ago
Totally agree but this is an unfortunately common behavior. During the dot-com boom many people picked up hugely expensive homes based upon the the perceived value of their shares. We all know how that turned out for most.
Even now I hear of people buying homes way out of their means because they have some stock in the currently hot company of the week that has some assumed paper value.
- capkutay 15y agoHow do you avoid these pitfalls? Just assume and act like you're still poor (or not rich) until you sell your stock?
- beachgeek 15y ago* Don't get too greedy. * Do stuff because you like it and not for the money. * Stay grounded. I feel for Khalid, but he's got to pay for what he did. Crap happens in life and you gotta deal. A lot of the things written about him seem to point to a somewhat sociopathic personality. Maybe he could run a Wall street company when he gets out of jail.
- mattdeboard 15y agoUh, yes? Spending money you don't have -- I'm not talking about lines of credit here -- is stupid. There's no way to soften it up, it's just a stupid thing to do.
- wpietri 15y agoYes. Don't count your chickens before they hatch. Investors recognize there's a problem there, so there's a trend these days to find ways for startup employees to cash out a bit. That, however, applies mainly to later rounds. The YouSendIt guys made classic rookie mistakes. They mistook startups for a get-rich-quick scheme, but they aren't; median time to exit for a startup is 7 years from funding. And that's if you're lucky enough to exit at all.