As noted in The New York Times:
"Umberto Milletti has fantasized about downsizing his life to ease the pressures he feels despite a net worth around $5 million. In 2000, when his stake in DigitalThink, the online learning company he co-founded in 1996, was worth around $50 million, he bought his family of four a five-bedroom house in Hillsborough, an upscale suburb south of San Francisco. After his net worth fell 90 percent, though, he found the house more of an albatross than a dream. 'We could move,' Mr. Milletti said. 'But if you do that, then you're admitting defeat. No one wants to go backwards.' So he works 60 to 70 hours a week at InsideView, an online sales intelligence company he co-founded in 2005, in part to prove that his first success was not a fluke -- but also to meet his monthly nut, which includes payments on a seven-figure mortgage."
The federal minimum wage is $5.85 per hour. Let's see. If you put in 70 hours, that gives you a gross (not take-home) total of $409.50. For 70 hours. Not enough for that seven-figure mortgage.
As Bob Dylan said, "When you ain't got nothin', you got nothing to lose."
Mansion photo courtesy of Gordon Gekko, Esq.
