(Extracted from FckdEx by Scott Galloway)
There was a great deal of discussion on whether to sell. I urged the founders, naturally optimistic about the firm’s prospects, to sell. The difference between $1 million and $10 million in wealth is meaningful (go big), but the difference between 0 and $1 million is profound (sell). Every entrepreneur should bank enough money to provide economic security for their family … at any opportunity. For every CNBC story on Spiegel and Zuck turning down offers and going on to capture billions, there are dozens of founders who should have sold.
Pro tip: your VCs will encourage you to “be in it to win it,” and to keep going, as they are already rich. Assume you are not Mark Zuckerberg.
… A powerful algorithm for happiness is to be wealthy but anonymous.