General > General Technical Chat
Linus Sebastion Turned Down $100M Offer
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Bud:
This thread is about Linus the Person to cash out the deal, pocket the money and retire to a remote island, isn't it.
nctnico:

--- Quote from: Bud on May 27, 2023, 03:26:21 pm ---This thread is about Linus the Person to cash out the deal, pocket the money and retire to a remote island, isn't it.

--- End quote ---
AFAIK only an idiot would pocket the money. A wise person leaves the money in a personal holding / ltd and receives a paycheck every month. Consult a tax lawyer and you'll likely be surprised why you wouldn't want money in your pocket. Simple example: do you think rich people own yachts? Well, they don't. Yachts are typically put in holding companies (special purpose vehicles) that take care of liabilities and paying the crew.
tszaboo:
100M sounds like a lowball to me. They have somewhere like 20M revenue from Youtube and they've been hinting that the store could bring just as much.
I mean they have I think over 100 employees.
But stepping down as CEO is probably a good idea. I got the impression he hates spending money, and you have to to that to be able to make money.
EEVblog:

--- Quote from: tszaboo on May 27, 2023, 08:17:41 pm ---But stepping down as CEO is probably a good idea.
--- End quote ---

Yep, smart move.
And it's not just some rando, it's his former boss that he knows well and has a lot of trust in, and has been trying to get him to work with him for years.
https://www.linkedin.com/in/terren-tong-62b5a44/
mendip_discovery:
Linus spent years building up his following. Selling out is good for the money but mentally not good for him as he watches someone else take the brand off in another direction with the faithful followers messagung him in thier complaints etc etc.

Meanwhile if he get someone to take over the day to day business side of stuff he can focus in making videos or spending it with the family. Though he is still able to control the general direction of the business.

Plus he gets to make a video about it.
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