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In Silicon Valley, Millionaires Who Don't Feel Rich

nytimes.com — Many members of the digital elite do not see themselves as particularly fortunate, in part because others have more.

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  • vroom101, on 10/10/2007, -0/+18Article on one page:
    http://www.nytimes.com/2007/08/05/technology/05rich.html?ei=5124&en=e30e403a61de8d2f&ex=1343966400&partner=digg&exprod=digg&pagewanted=all
    • brundlefly76, on 10/10/2007, -1/+1It is impossible to feel rich in Silicon Valley because it is a giant, lifeless industrial park full of cubicles with absolutely no sense of community whatsoever.

      Its the only place I have ever lived, where the one time I went back, I had no people or places I wanted to see, I just wanted to get out of there.

      Money and great weather only goes so far.
  • openthink, on 10/10/2007, -4/+60Interesting. It's a little bit like the Wall Street mentality. Traders, bankers, no matter how much they have, there are always people they know who have more. It drives them nuts. Even if they could retire and live extremely comfortably the rest of their lives, many just need more, they don't feel worthwhile unless they've got as much as others. Their identities are tied up entirely in how they stack up in $ numbers. Pathetic.
    • Error601, on 10/10/2007, -16/+1Good straw man.
      • tritiumpie, on 10/10/2007, -3/+7Error601-- You wouldn't know a "straw man" logical fallacy if it stole the 2004 presidential election, failed to mention the starving children in Africa, or bit you in the butt.
    • canewediggit, on 10/10/2007, -3/+14completely agree w/ you openthink. i was reading this article this morning (and laughing at the pic of the guy on the front page of the nyt) and all i could think to myself was, "pathetic." this is how bad our priorities are; even as millionaires these people still need to keep up with the joneses and have no concept about what life is really about. i'm all for capitalism and people making all the money they want, but some people need some real perspective.
      • spike711, on 10/10/2007, -7/+1When I was young and wanted just what my friends had ,my mother asked me if my friends jumped off the Brooklyn Bridge would I follow them......my question to you, Mr. Tony Barbagallo, would you jump off the Golden Gate Bridge? Sounds like it! You've sold your soul at the expense of your family life! Poor Tony, he's never going to be able to retire!!!!!
        He's only 44 and has 1.2 million in the bank!!!!!
        • timewarp424, on 10/10/2007, -1/+5That bridge thing is so cliche, that the first time my mother said it to me, I said of course I would. What I am trying to say here is.. how the heck are you suppose to derive a deep philosophical theme (such as being alright with oneself although not having everything) when it comes from such a stupid and overused saying?
    • TomPlansMedia, on 10/10/2007, -1/+4thats pretty much the definition of gambling addition
    • thcobbs, on 10/10/2007, -4/+7And some people's identities are tied up in quickie sudo-psychological analysis of people who make more money than them in an effort to belittle the analyzed so that the analyzer can feel superior.
      • ryanissuper, on 10/10/2007, -1/+4And some people's identities are tied up in pointing out others spelling errors, like "sudo-psychological". WTF?
    • leffunov, on 10/10/2007, -10/+5These people have an addiction to success. Anything less than perfection for them is mediocrity. They are nothing close to pathetic, they are the most powerful people in America, having more control over their own lives than the majority of americans. Isn't having control of your own life the most important thing?
      • dysonlu, on 10/10/2007, -1/+3RTFA, twit.
      • TVarmy, on 10/10/2007, -0/+3Rat in a spinning wheel, anyone? And addiction means that you've lost control of your life to an extent. They have to constantly be trying to be the richest, rather than slowing down to enjoy the little things that other people enjoy. Which is a shame, because a lot of times they have enough money to retire early or at least be semi-retired.
      • Aces, on 10/10/2007, -0/+1I know I'll get dugg down for agreeing with leffunov but he's right. Most people just don't get it. It's about the success not the money. I know because I'm like these people. The truth is, I don't care if I have 10 dollars or 10 million dollars. What is important to me is that I have MORE than you do. I'm not materialistic and money doesn't make me happy. I'm competitive and "winning" makes me happy. Money is just a convenient way to "keep score".
    • Birdoftruth, on 10/10/2007, -0/+3so someone who makes more money is in more control of his life than say a philosopher? Sorry pal but money does not equal happiness or a controlled life. you must of missed the part where they said these people are working like middle class people.
      • knowyourrights, on 10/10/2007, -0/+1must have missed the part, must have.
  • Error601, on 10/10/2007, -5/+8Screw that. At that point I'd be retiring and enjoying it. A lot of it is not about the money but the challenge to make it.
  • Frnnkdlxx, on 10/10/2007, -36/+2I bet they'd notice how rich they were and how quickly they needed to evacuate the U.S if they found out about this...

    CAFRMAN.COM
    State Governments Have $612 Billion of Your Tax Money That They Are Not Using.
    That Equals $2,149 for every man, woman, and child in the U.S.A. or $8,596 for a family of 4.
    Films: Comprehensive Annual Financial Reports Exposed (2000) - Jones interviews Commodity Trading Advisor (CTA) Walter Burien.
    *http://cafr1.com/China.html - China and the 1 Trillion Dollars (for starters)
    By Walter Burien - http://CAFR1.com*


    http://video.google.com/videoplay?docid=-5195274119869140315
    Comprehensive Annual Financial Reports Exposed (2000) - All time views: 25,988
    A video by Jones in which he interviews Commodity Trading Advisor (CTA) Walter Burien, who alleges that the majority (70%-85%) of stocks ... all » and insurance funds are owned by the federal, state and local government through investment fund participation. According to Burien CAFR (Comprehensive Annual Financial Report), only one-third of government's gross income is tax income, with the remaining two-thirds generated from non-tax income in the forms of investment and enterprise. The Annual Financial Report accounting structure for government started in 1946 through a private group called [Government Financial Officers Association], and then was Federally mandated for all local governments in the USA. A Google search will now yield over 260,000 hits on the CAFR. Mr. Burien suggests the CAFR review site CAFRMan.com, run by a retired Federal Auditor of 30 years, Gerald Klatt
    The video also includes an interview with former IRS special agent Joe Banister.
    *http://en.wikipedia.org/wiki/Joe_Banister - Joseph Ronald Banister is a former Special Agent of the Criminal Investigation Division of the Internal Revenue Service (IRS). Banister resigned from the IRS and later appeared on Sixty Minutes II challenging the conduct of the IRS concerning legal issues with taxation. Banister's books and other material challenge the legality of some aspects of the income tax. *

    This video is copyrighted, but Alex Jones has permitted and encourged the distribution of these videos for non-profit, educational purposes. If you would like to help Alex Jones and/or have a hard copy, buy one from him by going through his website. It can be done online or through his office.

    *Therefore, we can see that this is untrue, if we simply make available those funds to everyone - http://www.freerepublic.com/forum/a3b5f56ad3dd5.htm - The United States is in deep doo doo*

    Closely Associated Film:
    The Money Masters - How International Bankers Gained Control of America - All time views: 76,457

    http://video.google.com/videoplay?docid=-515319560256183936&q=the+money+masters&total=1313&start=0&num=10&so=0&type=search&plindex=0

    "The powers of financial capitalism had a far-reaching plan, nothing less than to create a world system of financial control in private ... all » hands able to dominate the political system of each country and the economy of the world as a whole...Their secret is that they have annexed from governments, monarchies, and republics the power to create the world's money..."

    THE MONEY MASTERS is a 3 1/2 hour non-fiction, historical documentary that traces the origins of the political power structure that rules our nation and the world today. The modern political power structure has its roots in the hidden manipulation and accumulation of gold and other forms of money. The development of fractional reserve banking practices in the 17th century brought to a cunning sophistication the secret techniques initially used by goldsmiths fraudulently to accumulate wealth. With the formation of the privately-owned Bank of England in 1694, the yoke of economic slavery to a privately-owned "central" bank was first forced upon the backs of an entire nation, not removed but only made heavier with the passing of the three centuries to our day. Nation after nation, including America, has fallen prey to this cabal of international central bankers.

    Closely Associated Film:
    America: Freedom to Fascism - Director's Authorized Version - All time views: 250,170 - Over 3 million views before Google removed it.
    http://video.google.com/videoplay?docid=-1656880303867390173&q=freedom+to+fascism&total=1054&start=0&num=10&so=0&type=search&plindex=0
    Exposes How the Federal Income Tax is Unconstitutional and how the federal reserve is neither federal, nor a reserve.
    • jmpeagle, on 10/10/2007, -2/+5stop this span $hit. I have encountered this EXACT comment copied and pasted in at least 4 other articles.
      • Frnnkdlxx, on 10/10/2007, -1/+1u guys suck. alright, i'll stop spamming with this. i just thought it was important. have fun as a broke, third worlder you *****!
    • quarkie, on 10/10/2007, -1/+0It takes a fair amount for me to actually block someone (because usually I find most people's comments comical). Congrats... you failed that hard.
  • JackBurden, on 10/10/2007, -18/+20What a bunch of pathetic whiny little bitches.

    So they're not sure if they deserve their money? How about they eliminate all of that worrying and give it to me? Or take a year off and work in the fields picking tomatoes and lettuce? Or get beaten to within an inch of their lives by a gang of thugs? Or, hell, the younger ones could join the military for a tour or two in one of our lovely imperial outposts and learn a few valuable life lesions.

    Then maybe their heads will be attached a little more securely to their fat over-indulged bodies.
    • satx, on 10/10/2007, -6/+5Yep... *Nods head knowingly*
    • aresef, on 10/10/2007, -3/+4Life lesions, certainly. And lessons too while they're at it.
    • signal15, on 10/10/2007, -3/+2Wow, why all the hate? It's sad that people of any given social-economic class seem to hate the people below them, and the people above them. In reality, you could most certainly be in a better position had you made the right decisions at the right times.

      I'm not poor, but I'm not rich either. I could care less how much my neighbors or any other person makes. My end goal with this whole "work thing" is to get myself in a position where I don't have to worry about my financials. I spent enough time worrying about that in college when I was writing bad checks for food and just scraping by working 50 hours a week and taking a full load of courses. I don't want to do that again. Also, not worrying about money doesn't mean "not working". It means being in a position which I enjoy, having good investments and retirement funds, and basically never having to live paycheck to paycheck. I'm not there yet, most people aren't. It's all a matter of how much of your time you want to dedicate to the end goal, and the sacrifices you are willing to make financially early on to build a decent base for your future wealth.

      My point is, most of the people that are worth several million got it by working their asses off, sacrificing, and making informed decisions. Just because you weren't willing to do the same doesn't mean you have to hate them.
    • Swoyer, on 10/10/2007, -0/+1I think the best advice i could give this guy is "QQ more"
  • satx, on 10/10/2007, -7/+55"Mr. Kremen estimated his net worth at $10 million. That puts him firmly in the top half of 1 percent among Americans, according to wealth data from the Federal Reserve, but barely in the top echelons in affluent towns like Palo Alto, Menlo Park and Atherton. So he logs 60- to 80-hour workweeks because, he said, he does not think he has nearly enough money to ease up. “You’re nobody here at $10 million,” Mr. Kremen said earnestly over a glass of pinot noir at an upscale wine bar here."

    Wow. Does anybody else want to beat this guy up and jack him?
    • Calcularius, on 10/10/2007, -2/+12yes
    • lcohiomatty86, on 10/10/2007, -3/+18heck.. at least with working 60-80 hours he's earning his paycheck... sure beats some of the poeple who just lay around and slack off all day earning money just because they can...
    • SillyRabbits, on 10/10/2007, -4/+21Notice how these people with millions in the bank are working 60-80 hours a week and thinking that they need to work harder.......and all these people without money are likely barely working 40 hours a week and saying how they would retire if they were in that position? The reason the "rich get richer" is they keep doing what made them wealthy in the first place. The reason the poor stay poor, is often they just do what's necessary to get by.
      • bCabulon, on 10/10/2007, -0/+6I'm not so sure you are right about that one. You would have to work at least that much to get by on minimum wage (two 30hr/week jobs). You make a big assumption in your comment. People who are poor are often poor for other reasons than being lazy.
    • rarson, on 10/10/2007, -3/+5Or how about, move the ***** somewhere else and live off that incredible nest egg that you've got for the rest of your life? Houses are pretty cheap where I live. You could buy literally everything you'd want, a nice house, a boat, a couple nice cars, etc. and still have plenty of money to buy groceries for the next 40 years and pass off a huge chunk to your kids with that kind of money.
    • aaaargh, on 10/10/2007, -0/+1That comment could be taken as haughty, but it also reveals an undeniable truth, that compared to many tech fortunes, $10 mill is peanuts. That said, I'm fairly certain that Kremen understated his net worth by several million. My recollection is that he sold match.com for a few million early in the run-up in the first tech bubble, ran sex.com for a few years after regaining it from a forging con artist (estimated revenue around $1 million a year), and recently sold sex.com for around $12 million with some equity retention.
    • powerfullogic, on 10/10/2007, -0/+2I can't understand this. I know so many people who said they'd be bored without their job. I don't need someone telling me what to do to structure my day, and I don't need a desk to get things done! What a bunch of fools. Give me one of those mills and I'll show them how to live.
  • backoff34, on 10/10/2007, -11/+54Cry more you ***** idiots. "Oh my 2.5 mil isn't enough" people would KILL (literally) for your lifestyle. You could easily retire on 2.5 mil if you invested it right and moved out of the most expensive cities in America. People work more hours than your sorry asses and barely have enough to survive on. I have no sympathy whatsoever.
    • AnteChronos, on 10/10/2007, -3/+31That same logic applies to other people, too. People making minimum wage in the US could live like kings in most parts of the world. They could easily retire if they took the $10k they have saved up and moved to rural Mexico or somewhere similar. I'm not saying that your comment is unjustified. I'm just pointing out how easy it is to lose perspective.
    • leffunov, on 10/10/2007, -4/+7Who asked for sympathy? They want more money and are working for it. These people beat people to get into college to get internships to get jobs to get the green when the rest of the people out there didn't make the grade. These people look at life like: i worked 20 times harder than this prick did. No way in hell am i going to not get paid double what he does. In the end they are just trying to get what they deserve in return through the crooked perspective that every person has of their own life.
  • rhylan, on 10/10/2007, -12/+15It won't matter much in 10 years time anyway, from what ive seen the dollar is going to collapse soon anyway. the American economy's screwed now all the major oil producing nations trade in euros, that $45 trillion debt's going to have to be confronted soon, and it aint gonna be pretty when that happens
    • TJATL, on 10/10/2007, -2/+4and your the son of greenspan huh?
    • sra8sra8, on 10/10/2007, -1/+7This is actually a very good point. Think of the wealthly Russian citizens in 1985. Five years later, their stash of cash was worthless. It can happen quite quickly and dramatically.

      Hopefully these individuals have enough sense to diversify their wealth globally.
    • signal15, on 10/10/2007, -3/+4Who is diggin this guy down? He's right.

      Start buying precious metals and cheap real estate now, because those are some of the only things that are going to follow inflation.
      • bCabulon, on 10/10/2007, -0/+1I wouldn't advise real estate as it is generally over priced right now. There is a downward trend starting in house prices (land will follow). If the dollar collapses there will also be a flood of land on the market due to failed mortgages.
        • Aces, on 10/10/2007, -0/+3He said cheap real estate. That house in Seattle might drop like a rock but the farm in Nebraska will hold its value.
    • bCabulon, on 10/10/2007, -0/+1If the dollar collapses all that debt won't be so much money.
    • jakkyl, on 10/10/2007, -0/+2He's being dugg down because of the 'chicken little' comment. It's always going to lead to a worse thing isn't it? The bad times are ALWAYS just around the corner?

      A lot of people posting on comments got it right. 5 Million is NOT very much when you're living in the silicon valley. You have a choice; 1. Make more money (which is what they are trying to do by working themselves into the grave) or move. The bay is nice, but come on! It's not worth paying 5 times the normal cost of living when you can easily enjoy other places like Oregon, Montana, Arizona....places where 5 Million is still a heck of a lot of money....
      • LukeSkope, on 10/10/2007, -0/+1"The bay is nice, but come on! It's not worth paying 5 times the normal cost of living"

        Don't know about 5 times the normal rent (paying about 33% more than in Vermont and getting paid about 33% more), yeah it is worth it.
  • NachoBusiness, on 10/10/2007, -1/+31My buddy lives there and makes $100k+/year despite not even being 30. And yet when he came to visit me he marveled at my house, and the fact that I live on more than acre of lakefront land. I guess you'd have to be super-rich to do that in the Bay Area, but it's nothing special in the "boondocks". I think if I had $2.5 million in the bank I'd be set for life... I can't imagine working past that point, unless my work was actually what I wanted to dedicate my life to, regardless of money.

    I guess different people have different priorities in life. I know my college friends practically think I'm a redneck for not living in NYC/Bay Area/SoCal etc.
    • tdurden, on 10/10/2007, -7/+1I'm moving to that area shortly for a job - trust me, 100K is not much there...buying or even renting a place is insane compared to most other places
    • tdurden, on 10/10/2007, -1/+9I'm moving to that area shortly for a job - trust me, 100K is not much there...buying or even renting a place is insane compared to most places.
      • JGailor, on 10/10/2007, -0/+2I rent a whole house in Berkeley, with a yard, and I make just shy of that. I lived in SF for a while on even less in a comfortable place. People just don't know how to live within their means. I just don't carry any major debt, paid off my car as soon as I could, and just don't make purchases that are going to stretch me thin. I love food so I also eat out or shop at the nicer markets in the area regularly, and I have no problem making my bills. When my gf finishes her mba, we'll probably pool our money that first year and buy multi-unit house together.

        Just stop buying useless ***** you don't really need and you'll do fine.
        • rockefeller, on 10/10/2007, -0/+1"When my gf finishes her mba, we'll probably pool our money that first year and buy multi-unit house together"

          Yeah, you have it all figured out......lmao!!!!!!!!
    • rarson, on 10/10/2007, -0/+2Yup. The only reason I have a job is so that I can make enough money to one day stop working. I really don't care about buying a bigger house (my house is big enough already) or amassing a bunch of crap that I don't really need... I just want to enjoy my life by doing the things that I WANT to do, and not things that I HAVE to do.
  • pagemaster, on 10/10/2007, -7/+18Everyone commenting is seems to think that these people have too much money. The fact is, they live in a very expensive area and consequently earn a larger salary. I'm sure if they had to they could move somewhere cheaper but chances are they won't earn as much. And like the article says, a few million really isn't what it used to be. If you really think you know better then work hard and make those millions yourself like they did. I think it is amazing that the guy managed not to go crazy when he lost most of his fortune. I've seen it happen, it's not pretty watching someone trade in their lambo for a civic. Everyone has the tools to be well off and even become a 'millionaire' but only those who choose to work for it will ever get it.
    • jmpeagle, on 10/10/2007, -6/+6not only that but they worker harder and longer than probably 99% of the country so they deserve the money they are making and deserve to be in the top 1%
      • rarson, on 10/10/2007, -3/+4Wow, you people spend too much time on digg. Every day, I come into contact with tons of people that work 50+ hours a week, only most of these people aren't rich and work much harder because they are doing all the manual labor that is required to support the lavish lifestyles of these "poor overworked" executives that work overtime to get away from their family.
    • canewediggit, on 10/10/2007, -4/+8i'm sorry, am i supposed to pity your friend that traded the lambo for the civic? maybe if he, like the people in this article, were more concerned with living within his means and not buying the shiny new toy to impress strangers, he wouldn't have gone broke.

      these people don't have too much money (no such thing), but they have enough to afford a very comfortable lifestyle and yet they suffer because they think their possessions/status are the most important thing in their life. and they are pathetic, much like your friend with the lambo that he couldn't really afford.
      • jmpeagle, on 10/10/2007, -2/+3you keep arguing about perspective but how many people here bitching about millionaires think the minimum wage is too low? Minimum wage in the U.S. earns you more than the majority of people in the world.
        • rarson, on 10/10/2007, -1/+2Thus the need to drive home the point of perspective, since you obviously don't get it.

          IT COSTS MORE TO LIVE HERE THAN THOSE OTHER PARTS OF THE WORLD.
          • jmpeagle, on 10/10/2007, -0/+1you know I am accounting for purchasing power parity. God damn you are dumb.
    • Otto, on 10/10/2007, -3/+6"And like the article says, a few million really isn't what it used to be. "

      What? With about 4 million, I could retire for life and never work again, living at my current standard of living, essentially forever. It's not that damn hard to do.

      These guys are idiots. Period. They think they haven't made it big because they live in the wrong ***** place. Move out of Cali, see the rest of the world.
      • SillyRabbits, on 10/10/2007, -1/+4Retire at 45 or 50 years old? Why? What are you going to do then? Not everybody finds playing Xbox360 everyday a fulfilling life.
        • bCabulon, on 10/10/2007, -0/+1"What are you going to do then?" Lets see, travel, read, adopt some kids and give them a chance at a good life, volunteer, mentor, go fishing, watch movies, spend time with family, write to a pen-pal, go to museums, adopt a highway, start a few new hobbies, join the neighborhood watch, garden, and so on...

          There is more to a fulfilling life than making money.
    • o0justice0o, on 10/10/2007, -4/+1It's weird how you pity the rich, it should be the other way around, that way they would be more humble and everyone might be more happy
  • airwalkery2k, on 10/10/2007, -1/+30I remember a professor who talked about what happiness is. He summed it up as not worrying about somebody else having more money than you.
    • akira117, on 10/10/2007, -0/+9Happiness is doing what you love, with who you love.
      • rarson, on 10/10/2007, -2/+4Happiness is whatever the ***** you want it to be, but when you choose it to be something impossible, like "I want to make more money than everyone else in California," then you'll obviously never achieve it.
    • footodors, on 10/10/2007, -0/+2aint that the truth!!
    • jakkyl, on 10/10/2007, -0/+1Read the book of Ecclesiastes and it will all make sense!
      • rockefeller, on 10/10/2007, -0/+2Great, just when the conversation was getting good, someone had to throw a religious remark in.
  • Klydethegreater, on 10/10/2007, -6/+7Awwww! Poor babies.
  • kestrel127, on 10/10/2007, -4/+8I lived in Redwood City, CA and could barley live off of 70k/year single. It's really bad. I moved out because of how expensive it is, not because I was too unable to compete with millionaires, who are mostly rich because of the land they inherited there.
  • sockpuppets, on 10/10/2007, -5/+7I live next to these wankers. I'm going to open a waaahmbulance company and cash in.
    • jakkyl, on 10/10/2007, -1/+1Not really......you are going to have to pay 1.5 Million for a modest 4 bedroom house in the Silicon Valley. You'll need to be making just as much money as these dudes do......that's the point
  • HeyArnold, on 10/10/2007, -3/+15/cry
    but, but, Steve Ballmer has a SUBMARINE!
  • thewrathoffluff, on 10/10/2007, -3/+43We might be complaining about these ungrateful rich people, but when you think about it, we're incredibly ungrateful ourselves. The middle and even low class live pretty comfortably here, compared with other less fortunate countries.

    We should all be a bit more grateful for what we have. Riches and wealth are all realtive, in the grand scheme of things.
    • rarson, on 10/10/2007, -1/+3Yes, but you'd think that with all the great advances we have and all the luxuries of being such a developed country, we wouldn't still be working 40+ hour work weeks.
      • Homunculiheaded, on 10/10/2007, -1/+4I'm always amazed that as a species, after thousands of years of intelligent self development and dominating our environments we want to work 40 hours a week. Look at lions, they hunt maybe 2-3 hours a day, and sleep the rest. Now that's a smart animal.
        • rarson, on 10/10/2007, -0/+1Well I certainly don't want to work that much. If I lived in a self-sustaining community, I would certainly feel obligated to work at least somewhat, and I wouldn't mind doing it, but I'm pretty sure that it would be possible, either in that situation or the situation we live in today, that work could be cut down by at least 10 hours a week or so by making a few changes. The amount of our lives that we dedicate to work is an absolutely depressing thought for me.

          For a so-called free society, we are certainly, to some degree, enslaved by our jobs.
    • pak314, on 10/10/2007, -0/+1That is what you like to think. In reality is other coutries like India you can live very well with middle class income. Try two servants, one to clean your house and one to cook your food. On an engineers salary. The possibility of retirement at 50 or 60 years with a pension. This is all because they have an even greater pool of low class people who have no opportunity except doing the bidding for the upper and middle class.
  • omjeremy, on 10/10/2007, -5/+5OMG, Oh... I feel so bad for them....
  • Calcularius, on 10/10/2007, -5/+5Conspicuous Wealth is one of the most offensive of human traits.
  • ponycat, on 10/10/2007, -7/+7Whoever loves money never has money enough;
    whoever loves wealth is never satisfied with his income.

    Ecclesiastes 5:10 (New International Version)

    • geoffpado, on 10/10/2007, -0/+5I think quoting the Bible on digg is a sign of the Apocalypse. You might want to look that up, I've misplaced my copy.
    • eltrev, on 10/10/2007, -3/+0from a commentor below, classic -

      "put your bible cliff notes back in your pocket and jump off a cliff."

      Exactly, jackass.
    • knowyourrights, on 10/10/2007, -0/+2I logged in to dig you down. I wish you were right here so I could slap the ***** out of you.
      there is nothing wrong with the quote, before judging something by the cover, even if you're not a christian, read what the comment is trying to say, then you are free to be a ***** ***** as the way responded to this person.
      No one deserves to be ridiculed, not atheists, not christians, no religion, respect is a 2 way road.
    • jakkyl, on 10/10/2007, -1/+2Great post Ponycat!!! I'm with you 100%. And I am a Millionaire but I don't give a crap about money......how ironic is that?
  • donavan, on 10/10/2007, -6/+2Yeah let me tell you my heart just bleeds for these pricks.
  • ponycat, on 10/10/2007, -7/+2 Whoever loves money never has money enough;
    whoever loves wealth is never satisfied with his income.

    Ecclesiastes 5:10
    • moomza, on 10/10/2007, -4/+2put your bible cliff notes back in your pocket and jump off a cliff.
      • knowyourrights, on 10/10/2007, -1/+1I logged in to dig you down. I wish you were right here so I could slap the ***** out of you.
        there is nothing wrong with the quote, before judging something by the cover, even if you're not a christian, read what the comment is trying to say, then you are free to be a ***** ***** as the way responded to this person.
        No one deserves to be ridiculed, not atheists, not christians, no religion, respect is a 2 way road.
  • ShorXrorE, on 10/10/2007, -7/+5cry me a ***** river. someone go ***** rob all those stupid assholes if they can't realize how rich they ***** are.
  • jimic79, on 10/10/2007, -4/+15Think about it before you comment on these "ungrateful" people. If you're hungry and the guy next to you has a sandwich, you want one too. If you have a ford escort and your neighbor has a ford taurus (read: ford 500) you want something better.. If you live in the silicon valley with a 42' yacht, and your neighbor has a 48', you want a bigger one too. It's ingrained in our heads to strive to out-earn our neighbors. These people aren't selfish, they're just trying to float in the society in which they live. Think about that when you go in to ask your boss for a raise, if you think these people should be happy, shouldn't you be happy with your current salary too?

    Being a millionaire means a lot less now. Just like the article says, a million doesn't mean you can retire forever...
    • brokencode, on 10/10/2007, -1/+6Exactly! Inflation eats up your bank account too quickly these days.
    • rarson, on 10/10/2007, -5/+3"Just like the article says, a million doesn't mean you can retire forever."

      It does if you're not a complete ***** retard and move to an area that has a lower cost of living. I'm fairly certain that I could maintain my current standard of living for at least 20 years without working if I had a million dollars.
      • nipterink, on 10/10/2007, -2/+4you do realize what you just described is not security. you proved you can squeeze a million dollars for 20 years and then discover you have no means of supporting a family.
        • rarson, on 10/10/2007, -2/+2Okay, see the point you're missing is that I'm saying that a million dollars would allow me to live at the same level of comfort that I currently live at for at least 20 years, without needing additional income. You, for some reason, are assuming that means that if I had a million dollars, I would quit my job and screw myself over 20 years down the road. Way to make false assumptions.
      • SillyRabbits, on 10/10/2007, -2/+5Good for you. But not everybody wants to live in their parents basement for the rest of their life.
        • rarson, on 10/10/2007, -0/+2I don't live in my parent's basement (the proper way to show ownership is to use an apostrophe). I own a house and I work to pay off the mortgage on my house, but that mortgage would barely put a dent in a million bucks.

          But hey, the best way to win any argument is to make assumptions about the person who opposes you and making fun of them, right?
      • jakkyl, on 10/10/2007, -0/+1What is your standard of living? A trailer park? This guy is overlooking the pacific ocean......pretty nice view if you ask me.....
    • bCabulon, on 10/10/2007, -1/+1"Just like the article says, a million doesn't mean you can retire forever..." No, but it will cover you for 22.5 years at the current US household median income.
      • jakkyl, on 10/10/2007, -1/+3$44,000 a year!! Are you kidding me?? You can't live off that in California. Sorry but what it is- is what it is....
      • LukeSkope, on 10/10/2007, -0/+1Where the ***** do you people come up with this crap? I live very comfortably off less than 44k, in one of the nicest neighborhoods in SF, 2 blocks from the beach. Granted, I couldn't support a family right now, but for ***** sake, is it all consume consume consume.

        You are a *****.
  • ptFoe, on 10/10/2007, -4/+3Money whores can never feel fully satisfied.
  • basye, on 10/10/2007, -4/+5Just more proof that money cannot buy you happiness.
  • ctrlfreak13, on 10/10/2007, -2/+9I was just reading this in the NYT this morning... and it's so true, a million dollars just isn't the same, the cost of living is just so high today.
    • akira117, on 10/10/2007, -0/+6I agree, if you life in silicon valley area the cost of living is very high.
      They just have to move and never have to work again.
    • greg9683, on 10/10/2007, -1/+2That still is a lot more than the average American has. I think most could live just fine with that much. I certainly could.
      • SillyRabbits, on 10/10/2007, -0/+1The problem is a catch-22, you almost have to live there to have the opportunity at accumulating that wealth. It can be done elsewhere, but it's much less likely.
  • KingGorilla, on 10/10/2007, -3/+3The answer is simple. Move to one of many poor african nations or china or if that's too far west oakland.
    • jakkyl, on 10/10/2007, -0/+3If you do move to Oakland, make sure you invest in a "9". You will need it in that piece of crap neighborhood.
  • thatsbologna, on 10/10/2007, -0/+23my net worth is less than $1000
  • akira117, on 10/10/2007, -3/+2They will fell very sad when they get old and realize they never enjoyed life
    • dorkino, on 10/10/2007, -1/+7Yeah cuz living paycheck to paycheck is enjoying life.
    • jakkyl, on 10/10/2007, -0/+2Yep....the dude's working some 75-80 hours per week. I wonder how many kids Baseball and soccer games he's missed because he's working? I wouldn't miss my kids events for anything.
  • Phasmorphage, on 10/10/2007, -2/+13It's definitely true. I live in Los Altos, in a small 2 bedroom cottage, but if I were to move to say, Texas, I could probably own a 2 story mansion. With cash.
    The cost of land is ridiculous here.
    And we have too many rich bastards
    Like, people actually buy iPhones here
    • L0g1X, on 10/10/2007, -0/+0I'm surprised you didn't get digg down for dissing an Apple product.

      Just jokingg
    • footodors, on 10/10/2007, -0/+0buy iphones? definitely have too much money
  • moomza, on 10/10/2007, -7/+23ok, so I am an "older" married person with 2 young kids, and I have over a million saved from the last 10 years of hard work in the tech world.

    So? Does that mean I'm rich? hell no - I live in coastal California. I can't retire. I do not have financial security. That money doesn't go very far anymore. I am still firmly in the middle class, and probably always will be. I drive a beat up dodge diesel truck (and proud of it). I can't imagine retiring, I expect a continued hard slog for 30 years and I will retire at 65 if I'm lucky.

    These people aren't whining, nor are they "money whores". It's just the reality, and relativity, of the money scale. Nobody should pretend that money actually makes you happy. The most you can do is hope (and only hope) that you accumulate enough someday to slow down your pace get some peace of mind.

    Go ahead and bury me, Digg kiddies.

    • rarson, on 10/10/2007, -1/+11You "can't" retire, but nothing's stopping you from moving. Oh, that's right, nothing but your desire to live in coastal California. You're choosing to work for the rest of your life, when you have the means to quit right now. I think that's sad, but that's just me, because I'm really happy living in ***** Michigan, I just wish I had a million dollars saved up so I could quit my job.
      • thirdoffive, on 10/10/2007, -1/+2Agreed, if I ever get that rich I sure hope I still have the sense to stop and enjoy life. I shudder at thought of every bit of my life getting used up on drudgery.
      • moomza, on 10/10/2007, -1/+2Aha, but the subject of "happiness" was not a part of my comment. I many ways I wouldn't want to retire if I could (and I certainly can't anyways)

        I love working independenty and raising a family on the beach, haven't had a boss for 12 years. It's a lifestyle thing I couldn't really describe to you out there in Michigan.

        This is me hanging 5 in my backyard, and I get to do it any time I want:
        http://elliotts.eachday.com/entries/129418/items/129497
        • bCabulon, on 10/10/2007, -0/+0We have very nice beaches in Michigan. And the surfing's not bad if you can put up with the temperature in September/October.
      • orangysb, on 10/10/2007, -1/+8Right, so you're saying those who have earnt a few millions in Silicon Valley should all just move to somewhere cheaper and be bums for the rest of their lives, sounds damn bloody productive to me.

        What the hell is wrong with people with millions working hard to earn more? Be it for money or for the love of their work. Just because you can't make as much elsewhere you diss them for working hard for themselves?
        • rarson, on 10/10/2007, -1/+2There's nothing wrong with that, but if they choose to complain about it, then I'll choose to clue them into reality. And moomza, you sounded like you were complaining. At the very least, you made a few statements that were flat-out wrong. You said you can't retire, and you're not rich. You have more money than a large majority of Americans (regardless of what the average is in the area you live in). You ARE rich, the fact that your money does go that far is a direct result of your choice to live where you live. So, yes, you could retire earlier if you chose to live elsewhere, but you've already stated that you don't desire to move, so don't complain about us "Digg kiddies" who are simply pointing our the lack of logic in your statements.
        • bCabulon, on 10/10/2007, -0/+0The point is that they shouldn't be whining about it if that is the life they choose.
      • TVarmy, on 10/10/2007, -1/+1California is so nice, I'd work later in life for the weekends and fun I'd have there. Sometimes, it's worth it for yourself. Plus, sometimes the places that are cheap to live in are not so great for schools, and he has two kids. I'm sure most small town education is good, but with autism rates so high (plus, it seems to run in my family), I'd be scared to start a family anywhere without a great school.
        • rarson, on 10/10/2007, -1/+1Well, the plus side for my situation is that I never want to have kids, so I don't have to worry about schools. Though, the area I live in is pretty small, but they seem to have pretty decent schools (the public library is in one of the schools, so I have actually stepped inside them).
    • L0g1X, on 10/10/2007, -0/+6A lot of digg users are young and they're not old enough to worry about buying a house yet so I don't blame them for not understanding.
      • rarson, on 10/10/2007, -1/+1I'm young, I bought a house, and I did so in an area that wasn't exorbitantly expensive. So why are these people complaining that the area they've chosen to live in is so expensive? Especially when they've already got over a million dollars saved up that they could easily use to move somewhere else? The fact is, they're making a choice to work themselves stupid, and that's about all it is in my opinion. I'd much rather live in the less exotic place that I live right now, comfortably, with a decent house (not extremely big, but it's on an acre of land) and be able to retire at 55 with decent savings than make millions of dollars by working 60 hours a week until I become so stressed out and overworked that my heart explodes.
    • ryanissuper, on 10/10/2007, -1/+1Move.
    • dortdruben, on 10/10/2007, -3/+2Over a million? Imagine working your ass off since high school and having no savings and over $25,000 in student loan debt b/c your single dad couldn't afford to pay for college for his daughters by himself. Not everyone gets mommy and daddy to pay for their schooling and beyond so that they can be a shallow jerkoff who bitches about how his "million" really isn't much. 10 years of hard work in the tech world is still about half the amount of hard work that would be required in many other professions to earn the same amount. I'm sure teachers, nurses, social workers, etc work a lot harder for a lot less than you do, and they are a lot less selfish, shallow, and whiny about their lives than you are. A million and not rich? Pathetic.
      • tracer9, on 10/10/2007, -1/+3In what way *what so ever* was that guy's honest and mature perspective "shallow" or "selfish" or "whiny". You should read it again. You should also probably change your poisoned and bitter attitude towards money or you will always be a poor, sad little screamer.

        Compare the text in his and yours. YOU ARE THE WHINER!!
      • SillyRabbits, on 10/10/2007, -1/+2Bitter much? I love how people believe that teachers, nurses, and social workers work so much harder than everybody else. I know plenty in each of those fields, and although they often do work hard, they sure as hell don't work 80 hour weeks. They all seem to pretend they work that hard, but it's not even close. A single 80 hour week 3 times a year is not the same as working 80 hours a week for 50 weeks out of the year.
      • bobfrancis, on 10/10/2007, -1/+1Exactly. And what's up with "Not everyone gets mommy and daddy to pay for their schooling ... " What the ***** do (dorkdruben) know who paid what for which?

        A bitter, and not so bright, soul. Too bad you are burdened with college debts, the edecation was wasted.
    • bCabulon, on 10/10/2007, -4/+3I'm a "younger" (26) single person who makes less than $40k a year. I live quite nicely and own my own three bedroom home. You are not firmly in the middle class. You are firmly in the top 5%. Learn to budget.
    • jakkyl, on 10/10/2007, -0/+2moomza.....don't be distracted by these youngsters. They got their whole lives in front of them and still have quite of bit to learn. Remember how we were when we got out of college? (I'm betting you're a hair past middle age, like myself.....I do NOT want to live to see 80!) The kids will learn....the same way we did. But you are right. 1 Mil just ain't what it used to be....but always remember, we live in California....how about that view?.....
  • Angirus, on 10/10/2007, -2/+20I am a Silicon Valley engineer who is a lot like the people in the article, though I am "only" worth about 2 million. I have no sympathy for the people in that article. To me, having money has nothing to do with competing with your neighbors; it's about security. I have some health problems and I've been saving my money to prepare for the day when I may need to use it. I buy hardly anything extravagant and will be happy if I can retire by 55 and donate my time to open source software projects. That article might be better received if it instead was about the high costs of living in the Bay Area, where you can pay $1,000,000 for a two bedroom condo in some places.
    • thirdoffive, on 10/10/2007, -1/+1Wrong reply box, bury this post & damn this comment system.
    • footodors, on 10/10/2007, -0/+0nice goal!
    • jakkyl, on 10/10/2007, -0/+1good post Angirus.....I'm sure the digg faithful will shred it but unless they've spent some in in Cali....most notably the Bay area which is by far the highest cost of living in the state, they will never be able to get their arms around this thing.....
  • dorkino, on 10/10/2007, -2/+9Pfft. Billionaire is the new millionaire. Everyone knows this.

    Everyone who's anyone, that is.
    • TVarmy, on 10/10/2007, -1/+1So, the dollar today is worth one thousand dollars yesterday?
  • wmtrader, on 10/10/2007, -2/+2They write about those who make 2.5 million simply because those numbers will get the reaction you see here, and the links back to their article, yet the story of those making $70,000 or $90,000 is what you should think of when you think of the "good life in the Silicon Valley".

    Case in point,
    I was working at a home development near San Ramon and I asked a sales rep "what can a person making $80,000 a year afford here?" and she told me "Oh you wouldn't qualify for a home in the Windemere development on $80,000 a year" and that I would need a second income from a spouse to get one of the homes they where selling..........and I am not talking about buying a big house.

    So, come to the Silicon Valley and make the big bucks and then give it to you landlord or mortgage lender.

    I am a Bay Area native, born in Redwood City and raised in San Jose, and it kills me to think that I won't make it if I stay here.
  • geardosdotnet, on 10/10/2007, -0/+2The problem is the cost of living in the San Francisco metropolitan area is insane. The cost of a modest bungalow in silicon valley will get you a mansion in some areas. Nobody should complain about having 10 million.
  • hydrokayak, on 10/10/2007, -1/+3I read the article, and it really made me feel pretty awful. Here I am, having made minimum wage at $5.15 an hour for so long. People who make millions, and still worry about living off their money, really make me sick. Just TRY and live off of $5.15. It's literally impossible. PERIOD.
    • AnteChronos, on 10/10/2007, -0/+2"Here I am, having made minimum wage at $5.15 an hour for so long. . . .Just TRY and live off of $5.15. It's literally impossible." Don't those two sentences contradict each other? Or do you, as I suspect, have more than one family member bringing in a paycheck?
    • SillyRabbits, on 10/10/2007, -0/+2"Here I am, having made minimum wage at $5.15 an hour for so long"

      I'm not trying to be an ass, but minimum wage was meant to be the base pay for people starting out in their first job without any skills. If you are still making that wage after a long time.....might I suggest you consider job training so you can apply for a new position that pays better?
  • whisperedlie, on 10/10/2007, -2/+2boohoo, you assholes
  • ubhe, on 10/10/2007, -0/+2everyone has the natural ability to adapt. after a while we adjust to richer or poorer and we go out again to look for more!
  • swordphish, on 10/10/2007, -0/+4It's not about the money. When you live and breathe your work, your work becomes the only thing that can satisfy you. Eventually you become tolerant to the feeling of satisfaction and must do more in order to calm your hunger.
  • dafrog2, on 10/10/2007, -3/+0The man has 3.5 million net worth and doesn't feel like he's made it? He needs to get it over with and eat a gun because there is no way he will ever succeed in life to his liking. What a douche. Be happy with what you've got.
  • 3wiid, on 10/10/2007, -1/+1After years of trying to get some savings together for a trip overseas I finally have 5K in the bank to do it. Happiness is what you get from looking into the eyes of the partner you love being happy with your lot and smiling more than you gripe and bitch and having just enough money to accomplish what you really want or need to do with it. The single greatest fear and source of worry for me and all my friends is money. I think it probably breaks you down mentally and causes you more grief than any other thing by a factor of ten. I feel sorry for these people busting there ass and not thinking they are ahead of the game.
  • fuzzball963, on 10/10/2007, -0/+3Well I can't say I feel sorry for these guys but I do understand where theyre coming from. For example, I'm twenty and in school and work full time. My net worth at the moment is around 1000 in savings 500 in checking and another 3k in stocks and 1k in 401k on a gross income of around 20k per year
    . All things considered I'd say I'm doing okay. I will have to take out loans for school but I'm always looking for new ways to make more money and later on my job will pay for schooling so I try to save even more of what I'm making.

    I just hope I can stick to the pattern I've set so far, and if part of that means living in a less expensive area while i build my savings and stuff then that's what I'll do. I've had to bike to work for the last year because I wanted to save enough up to put a sizeable down payment on a car but it's worth it in the end. It's all in how you choose to live and what you choose to do with the money you get
    • jakkyl, on 10/10/2007, -0/+1you got the right idea.....living in a less expensive area......you are already ahead of the game if you can keep that mentality
  • eltrev, on 10/10/2007, -0/+13Yesterday I was in a great mood because I looked at my savings account and I had almost five hundred bucks socked away!

    But today I am depressed because my friend Steve told me he has 850. What a rich, snobby *****. I bet he thinks he's better than me.
    • footodors, on 10/10/2007, -0/+0ha ha!! that was good!
    • bobfrancis, on 10/10/2007, -0/+0BwaHAHA!

      I wish this was the first comment, it would get lots-o-diggs
    • moomza, on 10/10/2007, -0/+0Bravo.

      Sometimes the dumbest comments crack me up
  • shiftless, on 10/10/2007, -1/+3As long as they're spending less than they make they can whine all they want. I hate people that go into debt just for appearances sake.
  • cyclox, on 10/10/2007, -1/+1boo ***** hoo
  • invictus0x0, on 10/10/2007, -4/+8Here's an idea, take your 10 million and M O V E
    you'll still be rich and never have to work another day in your life.

    In areas of SoCal you can get a brand new 4000sqf 5 bedroom for under
    500k, then say you feel the need to buy lots of other crap, h2 40k,
    corvette 35k your own Russian fighter jet 200k, 100inch lcd tv 10k,
    still spend less then 800k, keep 200k in pocket money and put the
    other 9 million in a modest 5% money market account and make 450,000
    dollar income (10x the average median income of the area) in interest
    alone, without touching the 9mil.

    if your more frugal and don't need things like a fighter jet, or need
    a huge house (2000sqf 3bd 2bath is 200k here) you will have even more
    money in your account and have make even more per year.

    In conclusion, if your to stupid to move with that money and live
    "high on the hog" elsewhere then at leased STFU.
  • ellisgl, on 10/10/2007, -1/+5The smart people moved out of the valley to places like Dallas, Austin and Atlanta.
  • unsolicited, on 10/10/2007, -0/+1Should I professionally compete with myself or with others?
    http://answers.yahoo.com/question/index;_ylt=An6SnNWnYP59Lr7nwq2_6EXty6IX?qid=20070108210822AAqa3wo
  • haterrade, on 10/10/2007, -0/+9did any of you guys actually stop bitching for five seconds and actually read the ***** article? yeah good luck getting paid what these guys are getting paid in Silicon Valley working at a job in the middle of *****, USA...most of your comments are basically synonymous with a person from China saying how it's pathetic how us Americans can't get by on 20 thousand a year
    • tycity, on 10/10/2007, -1/+0Then move somewhere else -- most of the work they are doing could easily be telecommuted. Silicon Valley is not the only place on Earth to live for a bunch of sniveling whiny millionaires. i live in the Hamptons - it is similar and too expensive for normal people, but we scrape by and we are in no way a bunch of low-level millionaires. They are competitive by nature and couldn't survive in ***** America -- their internal motherboard would have a meltdown.
    • barc0001, on 10/10/2007, -0/+2Oh come off it. If it's about income, then these people are set for life if they move elsewhere. That first guy in the article has a net worth of 3.5 million. Let's presume the "worst case scenario" for that wealth and say almost all of it's tied up in a house that is suddenly worth a lot more than it was. So he can't actually make that work for him unless he sells the house. So he sells it, and moves out of Cali. Let's do the math here. Sell the house, realize the 3.5 million, less 6% for the brokers involved, less some tax money for the capital gains, and say he walks away with a paltry 2.2 million. He moves somewhere you can get a decent house on some nice land for $200K, which leaves 2 million. He takes that to even the most marginally competent investment broker, and realizes a 6% return annually. That means without him lifting another finger, he's got a nice house outside of California bought and paid for, and a guranteed pre-tax income of $120,000 a year forever. Tell me why he needs a high paying job again? If he wants to work in ***** USA to keep busy or for some "extra" cash, by all means, but he won't need to be doing it to pay the bills and keep the family going, because that's done.
  • MaxPowers2007, on 10/10/2007, -1/+6Huh? $2.5 million will throw off $100k of income a year at 4% interest. That breaks down to starting each month with a baseline income of $8,333.33.

    If someone can't figure out how to live a comfortable lifestyle starting each month with a cash-money stack of eight large then they have their heads up their asses.

    That's enough interest money to do whatever the hell you feel like doing everyday until you die. My analysis assumes that 4% annual interest is a conservative expected return after taxes, transaction, and management costs on the $2.5 mill
    • aaaargh, on 10/10/2007, -1/+0$2.5 million net worth. $1.5 million is tied up in your house. (Granted you could have a mortgage and earn income with the cash, but then you pay interest on the mortgage, so that's roughly even). $500k is tied up in 401k's and other retirement funds. $500k is invested, giving say 5% income, or $25k a year. $20k after income taxes. Property taxes are 1.25%, or $18,750. BMW lease is $500 a month, insurance $400 a month, gas $100 a month, so that eats $12k a year. You've got high assets, but need to come up with another $10k a year, and that's assuming you don't eat or wear clothes. Granted, you could be comfortable with half as costly a house and car, but the people they're writing about in the article, who feel pressure to keep working, these are the sorts of numbers they're dealing with.
      • barc0001, on 10/10/2007, -0/+2So again, using your numbers, ditch the house and realize the 1.5 million, and send it on to join the other 500K, then get 100K a year income off it and move somewhere that 100K makes you live like a king. Which would be anywhere that doesn't rhyme with Allifornia or New Pork.
    • MaxPowers2007, on 10/10/2007, -0/+0Thank you barc0001. What aaaargh does not understand is the same thing that many Americans fail to grasp:

      Owning or Living in a $1.5m house /= Having $1.5m in cash-money in the bank.

      Having a semi-liquid non-productive asset (like a big house) is a long way away from having the money in cash. A huge part of peoples' stated net worth is the assumed value of their house minus what they owe on the house - which is *****. Your REAL net worth is all of the money you could stack in CASH in your living room within 24 hours. Everything else is pie in the sky.
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