A few days ago, a reader sent me a wonderful article from The Seattle Times: Young tech millionaires keeping 1-bedroom lifestyle. It focuses on some of Silicon Valley’s most successful young entrepreneurs, and how they’re rejecting traditional status symbols like mansions and luxury cars. Why? They find more value in funding startup ventures and social causes than engaging in conspicuous consumption.
For example: Aaron Patzer, the founder of Mint.com, who sold his company in 2009 for $170 million. He lives in a 600-square-foot, one-bedroom apartment, and recently replaced his 1996 Ford Contour (with 150,000 miles) with a $29K Subaru Outback.… {Read more}