From Rags to Riches to Rags

from the up-and-down dept

Here’s a story in MSNBC about someone who got wealthy from internet stock options, couldn’t handle it, and ended up losing much of his money. I’m not exactly sure why this is a story. The guy really didn’t make that much money (about a million – which is good money, but not stunning), obviously had no self control in spending, and tended to brag about his wealth to his friends. Then the market went down and he lost most of his money. Of course, he’s still wealthier than he was before, and he’s drumming up a ton of consulting business. While the story claims this is typical of Silicon Valley, I personally haven’t seen very much of it. Most people are pretty good about not going overboard with their new found wealth. In fact, a lot of people I know almost expect their wealth to disappear just as quickly as it came.

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