2 ms·

How 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 ago
  Uh, 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 ago
  Yes. 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.