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Congrats to the founders on their new generational wealth, but also what a shame.
by pepperoni_pizza 1mo ago
Congrats to the founders on their new generational wealth, but also what a shame.
- echelon 1mo agoIf there's no price tag mentioned, it's likely not generational wealth.
- fidotron 1mo agoAlso European so almost certainly underpriced themselves.
- fourseventy 1mo agoThere is no way the price tag is less than tens of millions right?
- willseth 1mo agoAt Google's size, they're not required to disclose acquisition prices well into the hundreds of millions
- compiler-guy 1mo agoThey were acquired by AWS, not Google. But the point still stands.
- tyre 1mo agoVery much doubt it’s generational wealth. I’m not sure how much people think open source companies are worth, but the path to VC-scale profitability is incredibly rare. My guess is that Amazon wants official hosted versions and doesn’t want to go through something like the Redis fiasco with licensing. In that case, they ended up having to support their own development anyway (with Valkey), so they might as well just buy the team. DuckDB team probably gets a nice package and pay bump, but it’s really unlikely they’re getting hundreds of millions from this.
- deleted 1mo ago[deleted]
- yurishimo 1mo agoHow much do you really need for generational wealth? In my opinion, if you're more than 10 years away from retirement and received a surprise $1 million, you're setup for the rest of your life and your children as well assuming they don't immediately blow it all when you die (that's what a good trust should be for). Assuming historical returns, your money doubles roughly every 7 years, so within the rest of your lifetime, that 1 million should turn into at least 8. That's an extremely comfortable upper-middle-class lifestyle on the interest payments alone. If your children don't spend it all, your grandchildren would easily have private jet money by the time their parents retire.
- asib 1mo ago1 mil is not generational wealth in the US. It is a big chunk of money, no doubt. It’ll buy a reasonable 2-3 bedroom house in the city I live in, with nothing left over. No one’s definition of generational wealth involves not touching the money for two generations…
- deleted 1mo ago[deleted]
- fwip 1mo agoThe median home price is around $400K. You don't have to live somewhere stupid expensive.
- jshen 1mo agoSure, but that's not generational wealth.
- fwip 1mo agoWe must be operating on different definitions. Generational wealth means you have enough money to meaningfully improve the lives of your kids and give them a leg-up on life. A million dollars is enough to buy a house for each of your 2.5 kids. If getting a million dollars wouldn't affect how much money you can leave your kids, you already have generational wealth.