每日英語跟讀 Ep.K093: How Do Silicon Valley Techies Celebrate Getting Rich in a Pandemic?
Things are so hot in Silicon Valley that it’s freaking people out.
As tech startups have rushed to go public and valuations have soared, Aaron Rubin, a partner at Werba Rubin Papier Wealth Management, said his clients were in shock over their newfound wealth.
科技新創公司紛紛掛牌上市且市值飆升，Werba Rubin Papier財富管理公司合夥人亞倫‧魯賓表示，他的客戶們對於自己新獲財富之多感到難以置信。
When the pandemic hit a year ago, tech workers worried that their startup stock might never pay off. The whiplash, plus general unease about the economy, has now discouraged them from making the kinds of splurges that often accompany overnight fortunes, Rubin said. Compared with past booms, there is “more gratitude,” he said, and more plans for charity.
“Everyone is waiting for the other shoe to drop,” Rubin said. “Maybe they buy a new Tesla or convertible, but they don’t go out and start buying airplanes overnight.”
Silicon Valley’s cash-gushing, millionaire-minting initial public offerings have been bigger and buzzier than ever. But in the pandemic, the newly rich aren’t celebrating with the usual blowout parties and early retirement into round-the-world travel.
The parties are on Zoom, the tax talk is on Slack, the house shopping is slightly less intense, and the vibe is cautious. It is a weird time to become rich.
“People’s mindset is not in a place to be ostentatious,” said Riley Newman, who was an early employee at Airbnb, which went public in December and immediately topped $100 billion in value.
People have shifted their focus from vacation homes and flashy cars to suburban homes and schooling, said Newman, who now runs Wave Capital, a venture capital firm.
Over the past six months, at least 35 companies that were founded in the San Francisco Bay Area have gone public for a combined market value of $446 billion, according to a tally by The New York Times. Those companies’ “lockup periods,” which prevent insiders from selling most of their stock soon after an IPO, will expire in the coming months, unleashing a wave of wealth.
Just a handful of those IPOs could mint an estimated 7,000 millionaires, according to an analysis by EquityBee, a platform that facilitates startup equity transactions. The stream of IPOs has been large enough that the tax income from them may wipe out some of California’s projected budget shortfall.
In a survey of employees at seven newly public companies, roughly one-quarter said they planned to be conservative with their money because of the pandemic.
Source article: https://udn.com/news/story/6904/5332533