I’m going to rant for a minute because of something I read earlier this summer in The Boston Globe: there is something inherently wrong about the fact that the co-founders of Google—Larry Page and Sergey Brin—each added $4 billion to their fortunes one day in July when their stock shot up 16 percent in one day. I suppose with profits like that you can afford to change your company’s holding name to Alphabet!
But that’s what I read, right there on the paper’s respected Business pages, a reprint of a story originally published by Bloomberg News. Yup, just another day on Wall Street. One day and $4 billion richer.
Then, there’s the rest of us on Main Street trying to balance our checkbooks, shop wisely, and pay the rent, or mortgage, or tuition bill on time.
I’m for capitalism as much as the next guy and I was literally lost last summer when I spent three weeks in Africa without the Internet and couldn’t ‘Google it’ at whim. But really, $4 billion in one day?
The rest of us will have to settle for profits a little less heady than the Google guys, and a method of saving a little less risky than founding a start-up technology company. So, instead of getting mad that these entrepreneurs made more damn money in a day than most of us would see in multiple lifetimes, I say, invest in yourself. Start small and grow large. Start saving your $5 bills now.
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Yours in Fives,