Hello fellow Blinders,
That’s right. You read the title correct. I’m 27 and just hit a net worth of $15 million. I can’t even believe I typed that out. I don’t really like to brag to my friends or family but I felt safe posting this on blind.
Before you ask how I accomplished this, I got EXTREMELY lucky. Through personal connections, I joined Upstart as a new grad software engineer when I was 23 (at a time when they were only hiring senior engineers). I was given 52,000 stock options with a fairly low strike price. Well, UPST just hit $300 this past week and I sold all those options. I became an instant multi-millionaire.
Am I going to retire? Probably not. I’m studying for the GMAT as I want to get into the venture capitalist scene. But it’s nice knowing I don’t have to ever worry about financial security.
This post was inspired by a fellow Upstart employee Blind post that said his net worth is now $16 million because of Upstart stock. Decided to share my own new net worth as well.
Sometimes I laugh at all these FIRE posts from FAANG employees. The real way to FIRE is to join a hot pre-IPO company that you know is going to be successful. Why are so many people hung up on getting FAANG jobs for “prestige”, I don’t know.
Old TC: $150k
New TC: none
Edit: Ok, the FAANG FIRE part came off as a little condescending. I just don’t understand why people are chasing FAANG for financial security when the startup scene offers a higher reward when you know the startup is going to be successful from basic research.
Edit 2: This thread has made me realized a lot of people like to play it safe. And this is ok. But playing safe will never net you life changing money that people think FIRE will get you towards. High risk entails high reward.
#personalfinance #investments #startup #upstart
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comments
Lol. Do you have a crystal ball?
I actually think an engineer on the ground, with good intuition (not most of them), could pick better
A little bit later
“join a hot ptr-IPO company that you know is going to be successful”
Do you not see the contradiction there?
The realization will come after few years. Let OP have their moment.
And I wish OP’s life goes somewhere where they can learn true life lessons.
Can you figure if a startup is going to be successful based on basic research as OP claims? No you can’t. Otherwise why would venture capitalists work so hard and diversify so much…
What a pile of shit in this post man.
Getting into FANG+ is basically equivalent to doing ETF investing strategy. Just buy VOO and forget about it.
What your describing is more like doing basic research on penny stocks, go all in, and hope to get rich out of it. Sure some people will get rich, but there’s a lot more that will not.