What would you do if you suddenly inherit a eye-boggling fortune after selling your company to one of the most prolific internet company in history ?
That is what Max Levchin, now 32, will tell you what he has done after selling , his ecommerce payment company, to for at least $1.54 billion in 2002 and endup becoming one of the wealthest and most successful internet icon with personal net worth of US$100millions.
In this article After Succeeding, Young Tycoons Try, Try Again, produce today by NYTimes, Levchin reveal the detail of his life before and after Paypal . The article of 3 pages long take a deep look of what it means to live a startup life and the never-ending quest to pursue the startup passion despite having a fortune of a lifetimes. It’s really heartening to see Levchin did not laugh all the way to the bank everyday, but continue to work and live his passion in his recent startup, www.slide.com.
Some of the interesting quotes includes:
A life in the day of PayPal
During his PayPal days, Mr. Levchin was so committed to seeing the company succeed that he often sacked out at the office in a sleeping bag he kept under his desk. Considering that he described his apartment during some of this time as “scary,” that had a certain logic. Cardboard boxes served as his living room furniture; a discarded computer desk was his dining room table.
These days, despite the phenomenal success of PayPal, which gave him the bulk of a fortune worth around $100 million, Mr. Levchin continues to work an average of 15 to 18 hours a day.
“We occasionally go out to eat, he sleeps a few hours, he works out,” Ms. Minkova said. “But other than that, Max works.”…
A Life After
These days, despite the phenomenal success of PayPal, which gave him the bulk of a fortune worth around $100 million, Mr. Levchin continues to work an average of 15 to 18 hours a day…
Pursuing his true passion rather than take the ‘normal way’
He thought, too, about becoming a venture capitalist or an angel investor, a well-paved path for generations of entrepreneurs before him. Sequoia Capital, one of Silicon Valley’s top venture firms, gave him a desk to use while he figured out his next step. The partners at Sequoia would regularly invite him to join pitch meetings, but that experience taught him that he was hardly suited to the more nurturing side of the profession.
“I took this perverse pleasure in seeing if I could make someone cry,” he said…
Refocusing life after the heyDay
While not nearly as rich as Mr. Levchin, Mr. Hong describes himself as well off enough so that work is optional. He was collecting more than $1 million a year from HotOrNot, a project he and his partner had created in seven days and which demanded little of his time.
“All of a sudden, you have the luxury — or the curse — of being able to ponder the meaning of life,” Mr. Hong said. “You ask yourself, ‘Why am I not happier given how lucky I’ve been?’”
Only later did Mr. Hong diagnose the real source of his angst: he was not doing much of anything. So like most of his peers, Mr. Hong decided to throw himself back into work, in his case refocusing on HotOrNot in the hopes of transforming the Web site into a larger business.
To understand what it means to work and breathe the startup life, what better way to learn then from Levchin. So why not give it a read .