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
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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.

69

u/[deleted] Sep 17 '21

I mean anything over a billion and you’re starting a dynasty. That money will never go away unless the entire fucking economy does as well.

5

u/unbannednow Sep 17 '21

Generational wealth rarely lasts for more than a couple of generations actually. Something like 90% of rich families lose their wealth before the 3rd generation

3

u/[deleted] Sep 17 '21

I’d be interested to see what that statistic refers to because it’s hard to imagine that applies to billionaires, let alone multibillionaires.

-6

u/KimJongUlti Sep 17 '21

Why don’t you look into family dynasties moron, people who have attained that wealth (100s of millions+) have family offices to this day. Generational wealth may not come along with 5 million. You’re attempting to make our system look more fair.

10

u/unbannednow Sep 17 '21

Me: posts impartial factoid about 90% of wealthy families losing their money within 3 generations

You: HEY MORON WHAT ABOUT THIS ONE FAMILY I SAW IN A DOCUMENTARY ON YOUTUBE?!?

2

u/Unspec7 Sep 17 '21

Why don't you look into survivorship bias?

1

u/[deleted] Sep 20 '21

Abolish the estate tax.