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Comment by jimboyoungblood | Hacker News Reader

Everyday startups are still severely undervalued.

If you believe this to be true, you should immediately invest all of your savings into startups.

Second, anything that pulls opportunity into the hands of the smart and ambitious, instead of the socially well-connected who usually monopolize it, must be encouraged, no matter what its financial implications are.

See above. Got your checkbook ready?

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All of my savings is about $2000 right now. I had $60,000 when I left my last hedge fund job and decided to work for a startup. Great decision with no regrets, but in a world where things like multiple liquidation preferences and participating preferred exist, I think I can say that smart people don't hold enough cards and powerful people hold too many. (Of course, it's best to be smart and powerful, but the number of people blessed both by God and Mammon is, like, seventeen.)

I am working at a startup. Shouldn't that count for something?

Where'd the 58k go? It sounds like you need to get some control over your finances if it 'just disappeared'.

It didn't "just disappear". I took in far less money, especially in the first year, as a startup founder than my (very modest, by New York standards) living expenses were. My point was that I put this money into the startup effort. An investment of time and money, not a loss. At the present time, however, I can't invest again for a while. So the checkbook is closed.

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