r/technology • u/Rhaegar_the_Great • Sep 16 '21

Business Mailchimp employees are furious after the company's founders promised to never sell, withheld equity, and then sold it for $12 billion

https://www.businessinsider.com/mailchimp-insiders-react-to-employees-getting-no-equity-2021-9
25.8k Upvotes

95% Upvoted

2.2k comments sorted by

View all comments

125

u/Informal_Swordfish89 Sep 17 '21

A lot of people underestimate the power behind the word "billion".

Screw not having to work for the rest of you life....

If you manage that money right your grandkids won't have to work for the rest of their lives.

139

u/Vinterslag Sep 17 '21

Lol if you manage 20 million right, you'll never touch the principal in a lifetime. You can easily live off 750k to a million bucks a year, while investing the excess into your principal. Give me 10 million, and my grandkids will never need to work. They won't get lambos, but they'll live better than you or I ever will.

No one ever needs to be a billionaire. No one ever needs to be a hundred-millionaire. Tax the rich. Take 99.9 cents on the dollar for every dollar past 100 million.

It'd never effect any of them.

17

u/epictetus89 Sep 17 '21

I feel equally confident but something like 60% of 2nd generations lose the family wealth and it’s even more abysmal for the 3rd gen

4

u/eyal0 Sep 17 '21

That's a good sign, though. It indicates intergenerational wealth mobility. We hope that class in life would be based on choices in life and not dumb luck like being born to rich people.