What You Learn When You Get Fabulously Rich Overnight

from the it's-not-all-about-the-money dept

Not everyone likes reading these sorts of story, but they’re still pretty interesting. Toronto’s Globe and Mail is looking at some entrepreneurs who hit it big during the boom years and cashed out in time. A lot of them are suddenly realizing that, while they thought they were in the game for the money, now that they have it, they feel something is lacking. Of course, it’s much easier to say that with the money in the bank. Still, it is a good point. Many of them seem a bit dazed by the money, and don’t know what to do with it. The most interesting thing, though, is that many seem to feel an emptiness for not having a startup to work at any more. While they thought it was all about the money, they’re discovering it’s the challenge of building a company that really appealed to them. The money is validation for what they did – but it leaves them with a big emptiness where the challenge used to be.

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Comments on “What You Learn When You Get Fabulously Rich Overnight”

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Mike (profile) says:

Re: But the money is nice

Actually, the article does discuss the issue of “giving the money away”. One person in the article did donate all of it (though, it appears she already had a comfortable lifestyle). Others say they’re looking for worthwhile places to give the money, but are upset with the way most charities are run.

Anyway, I don’t think the issue is having or not having the money. It’s having or not having the startup. Many people seem to think that once they get the money they can stop working altogether – as if the money is a replacement for a job. What they’re finding, though, is that it’s not. They still need the work. That has little to do with whether or not they keep the money.

Personally, in my experience of knowing a number of folks who made lots of money: the ones who were generally content with their lives beforehand remained so afterwards. The ones who seemed to never be happy, remained unhappy post-money.

Tony Lawrence (user link) says:

Re: Re: But the money is nice

I know, you’re right.

I know that if I hit the lottery, I’d pretty much continue what I’m doing right now. Oh, I’d “fire” some of my less desirable clients, and wouldn’t take on any work that sounded boring, but I couldn’t just sit here doing nothing.

I’ve never understood people who say they “hate” their jobs and can’t wait to retire. If you hate your job, you are doing the wrong kind of work. I love my what I do. I look forward to retirement only in the sense that I won’t NEED to work, but I don’t plan on stopping until final curtain.

Anonymous Coward says:

Re: Re: Re:3 But the money is nice

I don’t know, I think the movie “Office Space” pretty well summed it up. I am more with Peter than with Lawrence, although Lawrence does have a good point:

Peter Gibbons: What would you do if you had a million dollars?
Lawrence: I’ll tell you what I’d do, man, two chicks at the same time, man.
Peter Gibbons: That’s it? If you had a million dollars, you’d do two chicks at the same time?
Lawrence: Damn straight. I always wanted to do that, man. And I think if I had a million dollars I could hook that up, cause chicks dig a dude with money.
Peter Gibbons: Well, not all chicks.
Lawrence: Well the kind of chicks that’d double up on me do.
Peter Gibbons: Good point.
Lawrence: What about you, what would you do?
Peter Gibbons: Besides two chicks at the same time?
Lawrence: Well yeah.
Peter Gibbons: Nothing.
Lawrence: Nothing, huh?
Peter Gibbons: I’d relax, sit on my ass all day, I would do nothing.
Lawrence: Well you don’t need a million dollars to do nothing, man. Just take a look at my cousin, he’s broke, don’t do shit.

AMetamorphosis says:

Re: Re: But the money is nice

I understand what your saying …
I have always said that given a large sum of money … other than taking care of my self comfortably ( not obnoxiously ) I would provide perpetual trusts that would generate income to provide worthy causes and charities long after I’m gone … I think if more people realize that yes, money is nice, it really doesn’t mean too much if it doesn’t make an impact of some sort …

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