How do you treat your kids when your startup is a success?

http://www.launchlab.co.uk/article/Business-Blog/How-to-have-nice-kids,-by-Peter-Jones/218

by Stubbs • 18 years ago

17 15 18 years ago

launchlab.co.uk

pclark6• 18 years ago

Peter Jones seems like an all round top guy.

Does he do much stuff on the net? startups or such?

gravitycop2• 18 years ago

Peter Jones is one of the five angel-investors on the BBC version of Dragons' Den. http://en.wikipedia.org/wiki/Dragons_Den

He's been on the show for all six seasons. There are a lot of Dragons' Den episodes and specials uploaded in high-quality here: http://www.youtube.com/user/DDRepeat

Some of his investment/entrepreneurial specialties are mobile telecommunications, television, and media. http://en.wikipedia.org/wiki/Peter_Jones_(entrepreneur)

pclark6• 18 years ago

I stopped watching that when Doug Richard left... (I'm sure the others are great - but uk web investors are the ones I try to obsessivley keep on my radar.)

dimitry• 18 years ago

To answer the question in the title.. I don't know yet :)

pclark6• 18 years ago

yeah, thats one of those "good" problems to worry about in the future! :)

TomHod• 18 years ago

This is good too from the same site - top Dragons Den spoofs: http://launchlab.co.uk/article/Business-Blog/Top-five-Dragon...

vaksel• 18 years ago

The 2x payout is a good idea. If the kid grows up a screw up, they still won't starve on minimum wage. If the kid grows up to get a mediocre job making 50K/yr, suddenly they are pretty well off. If they push themselves and earn 100K...they get 200 which is quite good.

Good motivator for them to work their ass off

decode• 18 years ago

Philip Greenspun suggests something similar:

http://philip.greenspun.com/materialism/early-retirement/

He also adds another clever idea:

"Can we tweak the $N bonus idea at all? What if a kid becomes a repulsive yuppie despite the lack of financial necessity? Won't his siblings become envious when Chad, Jr. gets a $3 million check from Chad, Sr. to supplement his $1 million/year earnings at J.P. Morgan? Perhaps there should be a sliding scale for the bonus where the first $100,000/year is muliplied by 4, the next $100,000 by 3, the next $100,000 by 2, and the rest of the kid's income is not subject to a parental bonus. Or there could be a lifetime cap of $10-20 million per kid (no Gulfstream for Johnny :-( )."

Jimclev2• 18 years ago

Good to see, so many celebs (wealthy people) have nightmare kids. 10 seconds thought will give you a list of awful/useless children.

How do you treat your kids when your startup is a success?

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