I can’t really say that Confucius is right nor can I say that he is wrong. For the many years that I was on Wall Street, I loved what I was doing. I ran two investment banking firms that I personally founded. I was surrounded by people I loved seeing every day. I loved the adrenaline rush of seeing millions and millions of dollars swing upward during bull markets and vice versa when there were bear markets. I met a lot of fascinating people, some of whom became extraordinary friends, and others who gave me invaluable advice. I made a lot of money—lots of it. I live a comfortable life of more luxury than most of my peers. But where I believe Confucius may not be so accurate is in the level of strategic thinking, planning, strategizing, innovating, and if not stress that still comes with the job we love. If this is what Confucius meant to “never have to work a day in your life,” then it is certainly not true.
Some current billionaires like Bill Gates, Warren Buffett, Larry Page, Sergey Brin, and some of the most recent newcomers like Laurene Powell Jobs and Sara Blakely probably would not agree with Confucius’ quote as well. I’m sure these billionaires worked their butts off, and some are still sitting at their desks more than the usual hours of 8 to 5 daily (well maybe with the exception of Ms. Jobs ). Still, what I am most sure of is that these billionaires love what they are doing. They have a passion, and they don’t mind spending hours and hours doing what they love.
Like them, I am no different. While stocks and bonds gave me the adrenaline rush in the past, Sqeeqee is my adrenaline rush of the present. A different kind of adrenaline rush. Within the past 12 months, seeing how this very sector of social media, which is still in its infancy, continues to rise in popularity, many of these early start-ups have been snatched up by larger companies. The most recent uproar occurred after Yahoo acquired Tumblr for $1.1 billion just last month. Then just yesterday, social maps and navigation Waze was snatched up by Google for $1.3 billion. These acquisitions will most definitely continue to occur as giant sites struggle to stay hip, while newer ones (like Sqeeqee ) emerge to grab the spotlight. Today’s giants could be tomorrow’s MySpace—slipping into obscurity. Therefore, these giants (like Yahoo or Google) have to make acquisitions in order to upgrade their current sites and features aiming to tap into the younger and hipper newcomers of social networking who can attract millions of regular visitors daily, or to simply so that their competitors would not have access to its technology and users.
I can’t say the CEOs of these giants have it easy. They may be billionaires. Certainly, they could buy whatever it is they want and wine and dine without needing to look at a menu, but in return, I’m sure they have to “work.” Yes, yes, yes. I know, I know, I know. This quote means if we choose a job we love, we won’t ever feel like a day of work is strenuous. But now can you see why I still find it a bit difficult to swallow? Ha-ha!
Actually, I would prefer the following quotes from Confucius: “It does not matter how slowly you go as long as you do not stop,” and this quote, “By three methods we may learn wisdom: First, by reflection, which is noblest; second, by imitation, which is easiest; and third by experience, which is the bitterest.”
Social Media Acquisitions Within the Past 12 Months
Social media is still a young industry, and it is continuing to rise in popularity. Companies get bought and merged into larger companies every year.
1. Waze acquired by Google (Jun 2013) for $1.3 billion
2. Tumblr acquired by Yahoo (May 2013) for $1.1 billion
3. Eloqua acquired by Oracle (Dec 2012) for $810 million
4. Wildfire acquired by Google (Jul 2012) for $250 million
5. Yammer acquired by Microsoft (Jun 2012) for $1.2 billion
6. Buddy Media (Bright Option) acquired by SalesForce (Jun 2012) for $689 million
7. Meebo acquired by Google (Jun 2012) for $100 million
8. SlideShare acquired by LinkedIn (May 2012) for $119 million
9. Vitrue acquired by Oracle (May 2012) for $300 million
10. Instagram acquired by Facebook (Apr 2012) for $715 million