Interesting story about owning equity.

I was at Siebel in the late 90's to early 00's. Stock was soaring. We had reached $1 billion in revenue.

Sales Kickoff in 2000, Tom Siebel boasted how the company minted so many new millionaires. The stock was near $120 per share.
Then 2001 came. We were surviving the Dot Com bust okay. Companies were still buying. Stock was weak, but most were positive about the future.

Then 9/11 hit. Business spending stalled, revenue tanked. The stock also tanked.
The business never recovered. Siebel downsized staff and its ambitions. Stock crawled back to the mid $30's, but mostly hovered in single digits.

The "Siebel millionaires" saw their stakes shrivel. Many sold what they could when options were repriced.

But it was a meager take.
Some did ok on the stock. I sold what I could at the high. I was lucky.

Most had their dreams tied up in the stock just to see it vanish. Houses, college tuitions, nest eggs. Gone.

Some even doubled down on the stock in their 401k's. It was a double whammy.
So many talked up the benefits of equity during the Dot Com boom.

What is not talked about as much is the aftermath.

Equity is nice, but it is not cash. So many got crushed financially because they never diversified to cover their basis.
Right now, a very small minority are chasing out on golden lottery tickets. I am truly happy the dream worked out for them. Their equity is building wealth.

But realize that the equity dream only comes true for an incredibly small percentage.

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More from @marksbirch

15 Dec
Werner Vogels @Werner AWS re:Invent Keynote is coming up now.

Will be tweeting cool updates from his talk, so follow along!

#AWS #startups #AWSreInvent #reInvent2020 #cloud #CloudComputing #technology Image
By now, I mean in 40 minutes 😂...jumped the gun a bit.

But feed is up now and there will be a performance w/ DJ Shiftee and then AWS DeepRacer Championship Cup Finale starting shortly.

Werner's talk is 11 AM EST / 8 AM PST.
This DeepRacer final is pretty tight... Image
Read 42 tweets
1 Dec
Excited for my first re:Invent and getting ready for the @ajassy keynote coming up!

reinvent.awsevents.com

#awsreinvent #AWS #cloud
Loving the opening music act 🎸
Zach Person is the musician playing, so awesome...

Here is his Instagram - instagram.com/zachperson/
Read 75 tweets
29 Nov
When people ask me how long it took to publish my book Community-in-a-Box, I say two months.

They are surprised it was such a short amount of time.

Here are some thoughts on self-publishing a business book. /1
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It is an incredibly all-consuming endeavor. Books rarely cover the costs that go into them. Also there is the opportunity cost of doing other things.

Make sure you are clear on goals & outcome. /2
For Community-in-a-Box, I wanted to help others building & managing communities based on my lessons learned launching & scaling @Enterprise_Sale .

I saw many struggling to do things I had figured out through trial & error, so I thought it was worth sharing those experiences. /3
Read 24 tweets
24 Oct
Folks, I have a confession to make. I am a wuss.

That is the only conclusion I can come to after many weeks of reading right wing Twitter.

I am just not manly enough to be a man.

A thread 🧵
I saw this guy going off about emojis. They are only for women 👩 and children 🧒apparently. It's about self respect, men!

Got to admit, I 💗 a good emoji. Guess I'm a child then?
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This is terrible.

I also unfortunately know what Leigh is talking about. This does happen and I had something very similar happen in the Enterprise Sales Forum community.

Let me explain what happened...
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I jumped at the chance and put together a series of events and all the promotion to get members.
I flew out to Denver for the inaugural event and ran the fireside chat. Turnout was solid with about 40 attendees. Everyone seemed to enjoy the event.
Read 9 tweets
14 Oct
There will always be setbacks when building a community.

After the initial success, bumps in the road start to appear as I experienced in scaling the Enterprise Sale Forum (@Enterprise_Sale).

These are ten lessons learned. A thread 🧵

#community
1/ Cult of Personality where you as founder have an outsized impact on community and members feel the community is about you, not them.

Reduce your presence while empowering others to lead and shine in your community.
2/ Bureaucracy crops up as you expand and operationalize, communications get muddled, silos crop up, and this causes decision making to slow.

Keep communications open and foster transparency as a core value.
Read 12 tweets

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