5 ms·
If you have 200 million "of your own money" to spare, you are no longer just a person for the purposes of this conversation, you're a walking VC fund, and you'r
by mapt 2y ago
If you have 200 million "of your own money" to spare, you are no longer just a person for the purposes of this conversation, you're a walking VC fund, and you're not really risking a substantial change to your quality of life going from 250M to 50M net worth. Your living expenses are already generously compensated for by the large salary that you, the VC fund pays you, the person, out of your personal bank account, and they will be paying you those expenses until the end of your natural life. This isn't "risk" in the same sense as somebody who jumps to supplement their $150k salary with $450k of founder liquidity because it dramatically changes the material security of their life.
- throwbigdata 2y agoLife is very different at $50M v $250M
- Tepix 2y agoIs it?
- BoorishBears 2y agoIt's not really compared to an average person's life, but in SV tradition never let the chance to subtly flaunt a wealth gap pass by freely (This is the part where you say "Yes, having lived both <insert revelation>")
- shermantanktop 2y agoHas 50M: wishes they had 250M Has 250M: wishes they had 1B
- gafferongames 2y agoTres Commas
- fooker 2y ago50m is the upper echelons of private chaffeur money, 250m is the lower echelons of private jet money.
- kelnos 2y agoIt depends on the kind of lifestyle you want to live, I guess. If you want to live in a $30M mansion estate with 24/7 domestic staff and have several vacation homes around the world, $50M might not cut it, while $250M should cover it just fine. If you have a philanthropic bent and want to be able to fund various charities to the tune of $5M or $10M per year (in addition to a reasonably luxurious lifestyle, though considerably less than the above hypothetical), $50M might not be enough to sustain that over time, but $250M probably will. I think it's fair to say that there's not much difference between net worths of $25M and $50M, or between $50M and $75M. But jumping an order of magnitude from $50M to $250M will let you live a very different kind of life, if you so choose.
- rmbyrro 2y agoYou may dislike Elon, but it's pretty absurd to say that what he did is trivial.
- llamaimperative 2y agoGP didn’t
- deleted 2y ago[deleted]
- forgot-im-old 2y ago[flagged]
- rmbyrro 2y agoYou only missed the part that SpaceX was founded several years prior and that Falcon 1 was developed with his own money and solely private risk. Nasa only contracted SpaceX because of that AND because SpaceX saves them billions of dollars from otherwise inefficient suppliers. But that's not relevant.
- forgot-im-old 2y agoYou must have read Elon's own tales. See who Michael D. Griffin is and his history with Elon.
- rmbyrro 2y agoSpaceX was founded in 2002. https://www.sec.gov/edgar/browse/?CIK=1181412 https://www.sec.gov/edgar/browse/?CIK=1181412 Musk & Griffin had a relationship around establishing a Mars colony even before SpaceX foundation. Musk even tried to recruit Griffin when assembling SpaceX founding team. Book: Liftoff, p. 11 - https://books.google.com.br/books?id=DQ7jDwAAQBAJ&printsec=frontcover https://books.google.com.br/books?id=DQ7jDwAAQBAJ&printsec=f... By 2005, SpaceX was already leasing a launch pad for Falcon 1 and Falcon 5. https://spaceflightnow.com/falcon/050120lc36/ https://spaceflightnow.com/falcon/050120lc36/ In 2006, Nasa contracted SpaceX, referred by Griffin in the link you shared. https://www.nasa.gov/wp-content/uploads/2015/04/189228main_setc_nnj06ta26a.pdf https://www.nasa.gov/wp-content/uploads/2015/04/189228main_s...
- robertlagrant 2y ago> If you have 200 million "of your own money" to spare, you are no longer just a person for the purposes of this conversation, you're a walking VC fund, and you're not really risking a substantial change to your quality of life going from 250M to 50M net worth. Is that what happened? I thought he had $200m, and put in $200m.
- oblio 2y agoDo we know this story from any credible source or are we just trusting Musk's (a famous liar) word about it?
- robertlagrant 2y agoIt's true that that's what I thought, which is my statement. And it's better caveated than the previous one, which implied uncaveated that he still had $50m, but hasn't attracted the eye of any budding skeptics.