â€œYouâ€™re nobody here at $10 million,â€ Match.com CEO Gary Kremen told the New York Times in a story that you know is going to be torn apart today within Silicon Valley.
The gist of the NYT story is a few million ain’t what it used to be. Even after you’ve banked a lot of cash, paid off your large luxury house and banked money for your children’s education, you’re barely keeping up.
You know what the story says to me: it’s a slow, summer news environment so reporters are dreaming up “news features” to fill space.
Not sure why the NYT felt this story was more interesting than say something looking at what Silicon Valley millionaires are doing when it comes to philanthropy, or what many young entrepreneurial millionaires do next after they hit the jackpot – I mean, they could have used Marc Andreessen as a perfect example of someone in the Valley who’s had multiple successes after HP acquired Opsware recently.
For more comments on the story, check out Jeremy Toeman, who said the story makes his nauseated and angry.
One extra thought: One of the “problems” with making more money is the more you make, the more you spend. Becoming wealthy (however you want to define it) often means acquiring the trappings of success such as a new car, club memberships, private schools for children, etc. This explains why even rich people “struggle” financially like the rest of us.