Comment by cobbzilla
20 hours ago
> The owner was the son of an old school magnate out of PA.
If you have a lot of money it’s fun to LARP the startup life. The experience working for such a company is highly varied and completely depends on the personality of the founder. But even if it’s a healthy place, it’s usually a black hole from a career development POV.
I know someone who is an accountant for very wealthy people and quite a few seem to have useless children whose failing businesses they bankroll.
> whose failing businesses they bankroll
Don't confuse a hobby business with a failing business.
Plenty of people with independent means run loss making businesses for fun and/or support wives/children doing just that.
Semantics. If the hobby business never makes a profit and is capturing losses for tax benefits, that’s a failing business. It can be failing indefinitely as long as there’s money to support it, but you can’t call it a successful business.
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You see a lot of hobby shops in ultra-wealthy areas of major metropolises. Tiny art studios, interior decorators with a handful of items in stock, boutique fashion shops.
Startups are like sports cars nowadays. People think it makes you look cool if you own one.
It doesn't matter if it costs a lot of money to maintain. Yachts and sports cars do the same. That's actually like the whole point of it, after all.