Hello,
I am a student 21M, currently in australia for uni but based in Hong Kong. I chose to study computer science because I thought I was going to work for my dad, but he just sold his company since he got health issues he didnt want to spend the remainder of his life working.
I really thoguht my whole life plan was to work in IB for a few yeras, then inherit the company and take the helm but he did a 9-figure exit to a PE firm, not too sure what to do now. I was an addict and I was cut off, after I came out of addiction i chose to stay cut off as it gave me a sense of purpose and hardship in life which i dont think ive ever dealt with before my addiction.
Im not sure what to do next? Should I open up a family office and work with my dad as a VC? I just feel like i wont be respected by founders who have gone through blood, shit, sweat and tears to get to their level and me just a 21M VC associate to the family office under my last name.
What do i do so i dont turn out like the poeple i grew up with just extreme nepotism, no sense of self, no sense of duty e.t.c.. It would be extremely easy for me to just work with my dad and just pick and choose companies to pre-seed to series A, but i dont think id be taken seriously or provide any value.
Confused what to do now – parents sold company
byu/Tough-Economics-7395 inEntrepreneur
Posted by Tough-Economics-7395
20 Comments
Why pre judge yourself? Try to do your best for the task in hand.
Get a job and do your own thing, let them be let them liv their life,they habe done enough so love them for that dont try to scam them
Ha ! You should come invest in my start-up transforming supply chains using trash to do it, to be sustainable and community operated and ideally owned.
In reality, you could still do the Family Office role and drive what is known as “impact investment”. Because the experience you’ve had of a diction is actually very valuable if you wish to invest in organizations and businesses that are tackling that specific problem.
So yes, you will definitely come up against founders who will not like you because you have simply obtained your money inheritance. And that is true. Because you won’t have any idea at all about founding business from the Ground Up. You won’t have an ideal of how biased capital systems are but what you will have is personal experience addiction that has a very specific niche in a very specific need that actually some particular businesses are actively trying to tackle.
That is the only experience you bring with the to the table that nobody else will but equally it’s a super important one! You’ll see through the BS but also spot opportunities and value and potential where most others would just rejected out of hand.
IB? International Baccalaureate?
“So I don’t turn out like the people I grew up with”
Lolll
Get a job, like the rest of us?
It seems like one of your problems is you feel like being a passive minority investor wouldn’t give you enough to do, that you wouldn’t be able to contribute meaningfully to companies as an advisor? Have you considered entrepreneurship through acquisition? Buying an already successful cash-flowing business and running it yourself or selecting a manager to run it alongside you. I’m a business broker and could point you in the direction of some good tech companies on the market if you’re interested.
How about you try to make something of yourself instead of mooching off your parents?
what do you mean. do whatever you want. your family is worth 9 figures. wtf lol.
I’m in VC. Mos def take advantage of your nepotism or whatever gives you an advantage. Especially when it comes to fundraising, etc., Investors, VCs, Family Offices or whatever the fuck puts more weight on which families are investing into that Fund/Startup than the founders. I’m being serious.
Think you need to do some actual growing up
At 21, you’re at a very early stage in your career, which gives you plenty of time to explore your options. Don’t worry about sudden changes; instead, view them as an opportunity to rethink your path. If you’re still interested in computer science or the tech field, keep pursuing it and make the most of the skills you’re gaining. Working with your dad could be a good step, but don’t rush into it; try gaining some experience outside the family business first to build credibility and develop yourself independently.
Focus on honing your skills in your field and proving yourself over time. You don’t need to make final decisions right now. Instead, use this time to learn more about yourself and what truly motivates you.
I love that your life plan was “go to uni in Australia for 4 years, then go back home and work for my dad until he retires and I inherit a $100,000,000+ company”.
And your concern is that you “dont want to grow up like the other nepo babies you grew up with”. Whoosh.
Dont worry, my guy. Im sure that you can take a leaf out of a former US president’s book and get a small loan of a million dollars from your father and start a real estate empire or something.
When I was in College, I had a few classmates who came from generational business backgrounds. Their grandparents or great grandparents had set up companies. These kids didn’t need to work a day in their lives if they wanted, yet most of these kids took up jobs right after graduation and worked for at least a few years (some much longer) before taking up a role at their family businesses. One of the families had a rule of at least working 3 years with a company before you could join the family business.
Go work, build your work ethic, learn the ropes and find your own way in life. It may well end up being joining your parents but at least you won’t have the imposter syndrome at that point.
It looks like you have to make a tough choice, but it’s great that you’re giving it a lot of thought. What are you really interested in? Maybe finding a path that fits with your values will help you decide what to do next. Finding meaning in what you do can make you happy, whether you’re working with your dad or going your own way. Do it one step at a time!
I lived in HK. Just use your dad’s contacts to get a decent job. I assume you are part of one of the clubs. Leverage that to get internships etc. I did so the playing rugby. Miss HK.
Life is not fair. We all have advantages and disadvantages. Use the advantages you have, but do good with them.
Pull a Batman, go explore the world for a bit. Visit places with less fortunate people, volunteer to do the work they are doing, go work on an animal farm and see the suffering the workers and the animals go through, volunteer for some non-profits and learn their pain points, go teach English for free, visit disabled people, hospitals, areas with refugees, etc.
Go find a problem you empathize with and use your advantages to try to solve it. Anyone that looks down on you for that can go fuck themselves.
As a second generation who inherited a family business, let me tell you one big lesson for me. Respect is earned, no matter facing investors, customers, or your own staff (even if you inherited them).
You may take over from your dad, doesn’t mean the team you inherited will be your loyal subjects, quite the opposite as you’ll be bringing in new ideas = change.
You inheriting a big business doesn’t mean investors and such trusts you because you’re young and inexperienced anyway.
The only way is to execute and deliver results, just different positions have different scope and scale of “results” to earn trust.
Hope this sets you free. Everyone has different expectations of you, what is the expectation you have for yourself, that’s the only thing that matters
Bro just keep on fighting for your cause. You will eventually inherit some of that in future, by then make sure you’re self sustainable. Your studies can land you fine paid job and while you work think of something you would be able to run and ask your father for initial financing of business and build your own castle.
Only ask advice from people who’s already done what you’re wanting to do.
Forge your own path, value comes from experience.