1) IPO: I had already left and moved on to my next startup when the IPO happened. I put the money in the bank.
2) Acquisition: Stayed with the company for a year until they changed their minds and discarded what we had built, (this was the dotcom era, but we weren't a dotcom). I put the money in the bank.
3) Acquisition: Again, after I left for my next startup. Money went to the bank.
4) Acquisition: Stayed around for 3+ years until the PHBs took over cmopletely. Went to another startup. Put the money in the bank.
I've been amazingly lucky with my startups. Financially, each one made my life more comfortable, built a nest egg, helped pay for my kids' education. I keep saying "this is my last startup", but I keep going back. I am now in a position that I could "retire", but I'm at startup #5. This is my last one, this time for sure. If/when I do retire, I'll still be hacking interesting software, even if it's not for a company.
Out of genuine curiosity, what influenced your decision to put your money into the bank? Personally, I think that's a very smart decision, though I know a lot of people who've gone into the angel investor game to varying degrees of success.
I once fancied the idea of becoming an angel investor (and have made a few very small investments), but then I spoke to a colleague about that path, and he gave me the harsh reality of it. That doesn't mean I still don't fantasize about it, but I know it's a very different skill set than I already have.
Neurotic, obsessive contemplation of worst-case scenarios. Useful trait in a software developer, and it tends to make me conservative financially. But in many other aspects of life I don't recommend it. Also, angel investing doesn't appeal to me.
I bought some toys, but mostly a comfy life and peace of mind.
Oh man. You and I should compare notes (2 IPO, 2 acquisitions here) but I fully agree with you that luck is a big critical factor. People are generally impressed with my background but now on startup 5 or 6 (depending on whether I count my turnaround attempt for boo.com as part of the deal), I still feel that I'm just lucky and need to prove to myself that I can roll out another one.
Comments
1) IPO: I had already left and moved on to my next startup when the IPO happened. I put the money in the bank.
2) Acquisition: Stayed with the company for a year until they changed their minds and discarded what we had built, (this was the dotcom era, but we weren't a dotcom). I put the money in the bank.
3) Acquisition: Again, after I left for my next startup. Money went to the bank.
4) Acquisition: Stayed around for 3+ years until the PHBs took over cmopletely. Went to another startup. Put the money in the bank.
I've been amazingly lucky with my startups. Financially, each one made my life more comfortable, built a nest egg, helped pay for my kids' education. I keep saying "this is my last startup", but I keep going back. I am now in a position that I could "retire", but I'm at startup #5. This is my last one, this time for sure. If/when I do retire, I'll still be hacking interesting software, even if it's not for a company.
Out of genuine curiosity, what influenced your decision to put your money into the bank? Personally, I think that's a very smart decision, though I know a lot of people who've gone into the angel investor game to varying degrees of success.
I once fancied the idea of becoming an angel investor (and have made a few very small investments), but then I spoke to a colleague about that path, and he gave me the harsh reality of it. That doesn't mean I still don't fantasize about it, but I know it's a very different skill set than I already have.
Neurotic, obsessive contemplation of worst-case scenarios. Useful trait in a software developer, and it tends to make me conservative financially. But in many other aspects of life I don't recommend it. Also, angel investing doesn't appeal to me.
I bought some toys, but mostly a comfy life and peace of mind.
Oh man. You and I should compare notes (2 IPO, 2 acquisitions here) but I fully agree with you that luck is a big critical factor. People are generally impressed with my background but now on startup 5 or 6 (depending on whether I count my turnaround attempt for boo.com as part of the deal), I still feel that I'm just lucky and need to prove to myself that I can roll out another one.
I'm in the Boston area. If you find yourself in the area, get in touch (jao at geophile dot com)
Darn. Was just up there at Thanksgiving. I'm down in NYC myself. TNLNYC at gmail
Ping me if you ever come down in NYC...
wow! I hope to be able to meet you in person some day :)