Millionaire at 25, with a wake up call ten years later

[grindelwald]

Dear all,

I just joined this forum and wanted to tell you about my story.

I was, like many here, blessed by the internet boom in the late 90's, fortunate enough to "retire" at age 25 after a multi-million dollar buyout of my company in 2001. The next ten years, I did not much else but move to California (originally hailing from Europe) and enjoy the local beaches, travel extensively, learn new skills, etc. I even learned how to compose music and landed a record deal. I also got a CAIA and a CFA designation just for fun, and studied economics and banking in a distance learning course to learn more about investments.

Long story short, I feel I have to get kranking again and get my hands dirty. I still have a big idea in me that needs to be developed.

Luckily, I have a fairly good lifestyle without worries, but nowhere near a flashing millionaire's style, more like the guy next door that that everybody wonders about what he is doing all day. I still feel I need to generate more and new income to reach a higher level of life quality for myself and my family.

After recently stumbling on MJ's book I am determined to invest the next 2-3 years in building several web ventures I have ideas for.

If anyone wants to connect, please PM me at any time.

Sincerely,
MST

 

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[Knowledge Kick]

Welcome MST! It's awesome that you're finding some new motivation.

 

[MJ DeMarco]

Awesome intro! Any war stories you can share of your early successes?

 

[LightHouse]

Happy Birthday!

 

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[Inphinity]

Welcome to the Fastlane forum!

 

[CEBenz]

Welcome to the forum! Look forward to hearing more from you!
-Cameron

 

[MCD]

Welcome to the Fastlane! Interesting story you have, best of luck for your new ventures.

 

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[rocksolid]

Welcome to the board. Could you tell us a little about the company you sold and where it is now?

 

[TK1]

Nice introduction, hopefully we get to know more about your earlier ventures.

Looking forward to exchange some PMs maybe ;-)

Greetings,
TK

 

[grindelwald]

Thank you all for the feedback.

War stories? That was a crazy time around 1995-2000... I am not sure anything like this will happen again. I feel I was lucky to be caught up in the storm wit h a good idea at the right time. My company created audio content for flash; we were the first in Europe to do that and quickly got pretty much all the bigger business from web companies. It was the time when under $1M you could not get a website, and we charged up to $10k for a simple music loop that took 10 minutes to create. We were ruthless and put a lot of older more established music houses and studios out of business that were not as quick to adjust. At the peak of the boom I was offered a buyout by my largest client on a shopping spree and took it, only to see the company fold 6 months later. This was by no means passive income, but one huge paycheck that has lasted since. Like I said, I hope to replicate that one more time, with the experience I have today.

 

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[Gymjunkie]

Thank you all for the feedback.

War stories? That was a crazy time around 1995-2000... I am not sure anything like this will happen again. I feel I was lucky to be caught up in the storm wit h a good idea at the right time. My company created audio content for flash; we were the first in Europe to do that and quickly got pretty much all the bigger business from web companies. It was the time when under $1M you could not get a website, and we charged up to $10k for a simple music loop that took 10 minutes to create. We were ruthless and put a lot of older more established music houses and studios out of business that were not as quick to adjust. At the peak of the boom I was offered a buyout by my largest client on a shopping spree and took it, only to see the company fold 6 months later. This was by no means passive income, but one huge paycheck that has lasted since. Like I said, I hope to replicate that one more time, with the experience I have today.

The way internet as a platform is changing the world there are plenty of opportunities to take over industries and make impact. I'm sure you will with so much experience!

Where in Europe are you from?

 

[grindelwald]

I am originally from Switzerland.

I wonder where the real opportunities lie, beyond merely cashing $200,000 per year with digital product sales or affiliate marketing. This is respectable and revolutionary, but by no means "fastlane".

Knowledge exchange systems (like this forum), however, seem to fill a need, but I wonder how this could be monetized. The ultimate cash machine still seems to be the exchange system: It does not matter whether traders lose or win, the exchange always wins (their fee per trade).

I am sure we will come up with new ideas!

 

[Gymjunkie]

Nice.

It's def. not blogging what I meant. It's more like finding a way to monetize music industry using online/offline together. Same with books and TV eventually. Also Cloud represents opportunities and Mobile. No one is gonna use stationary PCs anymore, mostly laptops and then iPad's and smartphones come in.. so there are plenty of disruption going on..

I am originally from Switzerland.

I wonder where the real opportunities lie, beyond merely cashing $200,000 per year with digital product sales or affiliate marketing. This is respectable and revolutionary, but by no means "fastlane".

Knowledge exchange systems (like this forum), however, seem to fill a need, but I wonder how this could be monetized. The ultimate cash machine still seems to be the exchange system: It does not matter whether traders lose or win, the exchange always wins (their fee per trade).

I am sure we will come up with new ideas!

 

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[grindelwald]

The keyword is creative destruction

 

[Gymjunkie]

The keyword is creative destruction

Haha.. yup. The recession and internet gives us opportunities!!! Gotta seize them!

 

[wallstreet]

Welcome MST,

I'd love to hear about any other stories you have.

 

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