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> If they keep it.. if ever there were a case for blacklisting founders, this is it. Hell no to this horrific and toxic idea that we should blacklist anybody w

> If they keep it.. if ever there were a case for blacklisting founders, this is it. Hell no to this horrific and toxic idea that we should blacklist anybody who sells equity and then fails. Can you please identify yourself, so we can all be well-informed that if we go into business with you, we're going into business with somebody who believes in the public shaming and blacklisting of those who take chances and fail? You're not cool dude. Not cool at all. And I say that as somebody who always thought secret was disgusting and value-destroying.

lmm 12y ago
Taking a chance and failing is one thing. But $6m is an absurd amount of money. That's never-work-again money (I'm not sure why they'd even mind being blacklisted). People in my neighbourhood would literally kill for less (and in a few tragic cases did).
- sshumaker 12y ago
  Are you serious? After taxes that's maybe 1.8mm each. That's great, but certainly not never-work-again, especially in SF where the median one bedroom goes for 3300/month. When doing FU calculations, you have to figure out how much you can earn from investing it, then factor in cost of living increases over the next 40 years. Put it another way, if they invest and get 4% annually that's like earning a salary of 72k. Good luck living on that in SF with rent increases. (Starting salary for a new CS graduate at bigco in the Bay Area is like 105k).
  - lmm 12y ago
    Maybe not in SF, but if you don't have to work again there's no need to live in SF. 72k/year is well above the median national salary; it's absolutely retirement-level money.
- avn2109 12y ago
  This is not even close to never-work-again money unless you want to live Cambodia or something. There is no portfolio in the world that gives a >75% chance of a safe, comfortable lifetime of first world retirement with that amount of pretax capital. We're not even in the ballpark.

lmm 12y ago

Taking a chance and failing is one thing. But $6m is an absurd amount of money. That's never-work-again money (I'm not sure why they'd even mind being blacklisted). People in my neighbourhood would literally kill for less (and in a few tragic cases did).

sshumaker 12y ago
Are you serious? After taxes that's maybe 1.8mm each. That's great, but certainly not never-work-again, especially in SF where the median one bedroom goes for 3300/month. When doing FU calculations, you have to figure out how much you can earn from investing it, then factor in cost of living increases over the next 40 years. Put it another way, if they invest and get 4% annually that's like earning a salary of 72k. Good luck living on that in SF with rent increases. (Starting salary for a new CS graduate at bigco in the Bay Area is like 105k).
- lmm 12y ago
  Maybe not in SF, but if you don't have to work again there's no need to live in SF. 72k/year is well above the median national salary; it's absolutely retirement-level money.
avn2109 12y ago
This is not even close to never-work-again money unless you want to live Cambodia or something. There is no portfolio in the world that gives a >75% chance of a safe, comfortable lifetime of first world retirement with that amount of pretax capital. We're not even in the ballpark.