August 4, 2007

in silicon valley, millionaires who don’t feel rich

Wow, this NY Times story really says it all about life here in Silly Valley.

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.

Well that's a bit overwrought in my book, but there is a lot of money here, and a lot of overt materialism. It is very hard sometimes, not to fall into the trap of measuring your personal success in terms of flash cars, enormous homes, VC deals, and the number of staff you have managing your lush life.

BTW, it was interesting to see former HP colleague Celeste Baranski profiled in the article...hey Celeste, we're neighbors -- drop me a line and we can talk story sometime when we both aren't chained to our desks ;-)

Posted by Gene at August 4, 2007 2:42 PM | TrackBack