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I know a fresh out of college Rails developer who makes more than Patrick. He is not making that much money for his skill set. Maybe hes a masochist, who knows.

I know a fresh out of college Rails developer who makes more than Patrick. He is not making that much money for his skill set. Maybe hes a masochist, who knows. He obviously lacks the ability to see he is working on ridiculous ideas. The fact he cant get them funding alone is a huge deal, because I imagine anyone would fund the guy just because of who he is. But when it comes down to it, he must truly have no knowledge of scale.

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JamesBarney 12y ago
I think it's pretty obvious that if Patrick wanted to optimize for more money he definitely could have by focusing on consulting instead of AR. Also he owns Appointment Reminder and he didn't count the appreciation of that asset. Lets assume the total profit for AR went from 100k to 135k. Now lets make the assumption that it is valued at a 5x multiple, this means that he increased his net worth by 175k. Thus his total "profits" for the year would be under estimated by 175k.
- guy_c 12y ago
  This is an important point. You cannot directly compare salary to business income. The day you quit your $150,000/year dev job is the day you income hits zero. Compare that to BCC that he effectively quit four years ago. 2007 $6,200 / 100 hours / $60/hour 2008 $10,700 / ?? hours / 2009 $18,525 / 130 hours / $125~$150/hour 2010 $25,904 / 115 hours / $200~250/hour 2011 $25,000 / 35 hours / $700/hour 2012 $38,598 / 38 hours / $1,000/hour 2013 $23,000 / 23 hours / $1,000/hour 2014 $20,000 / 5 hours / $4,000/hour Rough total is $170,000 from 550 hours of effort. Lets assume it ticks over for a few more years. You've basically earnt quarter of a million from equivalent of 3 or 4 months effort.
JabavuAdams 12y ago
What's the value of never having another farcical performance review? What's the value of being able to devote tomorrow to reading a Phyiscs (or whatever) book if you don't feel like going in to work? Or going out to a movie? What's the value of being able to pick your kid up from daycare no-hassle when they run a fever? What's the value of never ever having to dress some way you don't want to, to travel at times that annoy you, etc.? When you're an employee, or a tightly-scheduled professional, or in a high-velocity startup, you give up all of these things. Sometimes it's worth it, but often it's not.
- quickpost 12y ago
  Great list. Commenting here so I will reference this later.
AznHisoka 12y ago
Patrick is working on whatever he wants, whenever he wants and how often he wants. That isn't just worth much more than however much your average BigCorp Developer is making... that's priceless.
- chj 12y ago
  He still has to be very focus on projects. And any project, however fun it starts to be, will become less exciting over time. In the end, it feels just like work. That said, the freedom to choose whatever city you like to live in, is priceless.
cpach 12y ago
Did you create this account just to smear Patrick? What a shitty thing to do.

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JamesBarney 12y ago

I think it's pretty obvious that if Patrick wanted to optimize for more money he definitely could have by focusing on consulting instead of AR. Also he owns Appointment Reminder and he didn't count the appreciation of that asset. Lets assume the total profit for AR went from 100k to 135k. Now lets make the assumption that it is valued at a 5x multiple, this means that he increased his net worth by 175k. Thus his total "profits" for the year would be under estimated by 175k.

guy_c 12y ago
This is an important point. You cannot directly compare salary to business income. The day you quit your $150,000/year dev job is the day you income hits zero. Compare that to BCC that he effectively quit four years ago. 2007 $6,200 / 100 hours / $60/hour 2008 $10,700 / ?? hours / 2009 $18,525 / 130 hours / $125~$150/hour 2010 $25,904 / 115 hours / $200~250/hour 2011 $25,000 / 35 hours / $700/hour 2012 $38,598 / 38 hours / $1,000/hour 2013 $23,000 / 23 hours / $1,000/hour 2014 $20,000 / 5 hours / $4,000/hour Rough total is $170,000 from 550 hours of effort. Lets assume it ticks over for a few more years. You've basically earnt quarter of a million from equivalent of 3 or 4 months effort.

JabavuAdams 12y ago

What's the value of never having another farcical performance review? What's the value of being able to devote tomorrow to reading a Phyiscs (or whatever) book if you don't feel like going in to work? Or going out to a movie? What's the value of being able to pick your kid up from daycare no-hassle when they run a fever? What's the value of never ever having to dress some way you don't want to, to travel at times that annoy you, etc.? When you're an employee, or a tightly-scheduled professional, or in a high-velocity startup, you give up all of these things. Sometimes it's worth it, but often it's not.

quickpost 12y ago
Great list. Commenting here so I will reference this later.

AznHisoka 12y ago

Patrick is working on whatever he wants, whenever he wants and how often he wants. That isn't just worth much more than however much your average BigCorp Developer is making... that's priceless.

chj 12y ago
He still has to be very focus on projects. And any project, however fun it starts to be, will become less exciting over time. In the end, it feels just like work. That said, the freedom to choose whatever city you like to live in, is priceless.

cpach 12y ago

Did you create this account just to smear Patrick? What a shitty thing to do.