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Money is just money. It can be squandered, mal-invested, taxed, or simply inflated away. However, the guts that all of those founders showed will forever be a

by johnrob 13y ago

Money is just money. It can be squandered, mal-invested, taxed, or simply inflated away. However, the guts that all of those founders showed will forever be a reference point for their careers. Many can claim they would turn down 100M, but few have actually done it.

taytus 13y ago
So the goal is to turn down 100MM offers, so you can show off you had the courage to do it? I disagree with that.
- jacoblyles 13y ago
  It's so much easier to start a new venture once you have had a successful exit. Investors throw money at you. My advice to founders would be to think of the impact that a successful exit can have on your entrepreneurial career. Think of paypal.
  - btrautsc 13y ago
    While I agree with you... I think Paypal is about as unique as it gets. See Paypal Mafia [1]. That company consolidated amazing talent (both technical & entrepreneurial) during the bubble, went IPO, which made many of many of those soon-to-be entrepreneurs wealthy. With cash in their back pockets, the started, fronted, and funded an incredible list of companies. Ultimately, they utilized wealth, past success, and an incredible network to keep leveraging to build more of each. 1. http://en.wikipedia.org/wiki/PayPal_Mafia http://en.wikipedia.org/wiki/PayPal_Mafia
- johnrob 13y ago
  That's the fall back. And it's not as bad is you'd think for those whose companies ultimately failed. The goal is to make the company into something significant.
nickpinkston 13y ago
I'm glad this is the first comment. We should be giving those who reject such offers MASSIVE KUDOS for having the gumption to turn down mere money for their dreams. Do you want to get rich or actually change this world? I hope we still remember why we tell each other tech is world changing - not just "life changing"
- minimaxir 13y ago
  I would imagine that the employees of the startups in question would strongly disagree with you.
  - nickpinkston 13y ago
    Sure, but then again we're too friendly to mercenaries in this industry. I don't hire those types because I'm very mission focused and work on real problems - not sheep throwing. You get one life to make a difference. You want to make shit tons of money and live conspicuously? Move to NY and work for a bank. You want to travel the world? Nomadic freelancing is a far surer path than trying to play the Startup Lottery.
- cobrausn 13y ago
  'Change the World'? They were holding out on the 100 million offers mostly because they thought they could become billion dollar companies, if the article is to be believed.
  - pyoung 13y ago
    I think it goes both ways. Some founders actually believe in their companies and their vision, whereas others are just holding out for a bigger payday. While it is nice to hear stories about founders cashing out, we should also celebrate those who are actually trying to make a long lasting impact, regardless of whether they succeed or fail.
- JoeKM 13y ago
  A business exists for its clients. If you reject an acquisition I hope you did it for your clients and not to feed your own ego.

by johnrob 13y ago

taytus 13y ago

So the goal is to turn down 100MM offers, so you can show off you had the courage to do it? I disagree with that.

jacoblyles 13y ago
It's so much easier to start a new venture once you have had a successful exit. Investors throw money at you. My advice to founders would be to think of the impact that a successful exit can have on your entrepreneurial career. Think of paypal.
- btrautsc 13y ago
  While I agree with you... I think Paypal is about as unique as it gets. See Paypal Mafia [1]. That company consolidated amazing talent (both technical & entrepreneurial) during the bubble, went IPO, which made many of many of those soon-to-be entrepreneurs wealthy. With cash in their back pockets, the started, fronted, and funded an incredible list of companies. Ultimately, they utilized wealth, past success, and an incredible network to keep leveraging to build more of each. 1. http://en.wikipedia.org/wiki/PayPal_Mafia http://en.wikipedia.org/wiki/PayPal_Mafia
johnrob 13y ago
That's the fall back. And it's not as bad is you'd think for those whose companies ultimately failed. The goal is to make the company into something significant.

nickpinkston 13y ago

I'm glad this is the first comment. We should be giving those who reject such offers MASSIVE KUDOS for having the gumption to turn down mere money for their dreams. Do you want to get rich or actually change this world? I hope we still remember why we tell each other tech is world changing - not just "life changing"

minimaxir 13y ago
I would imagine that the employees of the startups in question would strongly disagree with you.
- nickpinkston 13y ago
  Sure, but then again we're too friendly to mercenaries in this industry. I don't hire those types because I'm very mission focused and work on real problems - not sheep throwing. You get one life to make a difference. You want to make shit tons of money and live conspicuously? Move to NY and work for a bank. You want to travel the world? Nomadic freelancing is a far surer path than trying to play the Startup Lottery.
cobrausn 13y ago
'Change the World'? They were holding out on the 100 million offers mostly because they thought they could become billion dollar companies, if the article is to be believed.
- pyoung 13y ago
  I think it goes both ways. Some founders actually believe in their companies and their vision, whereas others are just holding out for a bigger payday. While it is nice to hear stories about founders cashing out, we should also celebrate those who are actually trying to make a long lasting impact, regardless of whether they succeed or fail.
JoeKM 13y ago
A business exists for its clients. If you reject an acquisition I hope you did it for your clients and not to feed your own ego.