Comments on: John Bogle on “Enough” http://advancedpersonalfinance.com/john-bogle-on-enough/ Moving beyond the basics Wed, 19 Nov 2008 15:15:51 +0000 http://wordpress.org/?v=2.2.2 By: samerwriter http://advancedpersonalfinance.com/john-bogle-on-enough/#comment-38 samerwriter Thu, 19 Apr 2007 16:26:20 +0000 http://advancedpersonalfinance.com/john-bogle-on-enough/#comment-38 A while ago I read an interview with Craig Newmark of Craig's List. Craig's List is of course phenomenally successful. But Newmark has not capitalized on its success by putting the company up for sale, or covering his site with ads. Regarding the sale of myspace for $15 billion, he said: “Who needs the money? We don’t really care. … If you’re living comfortably, what’s the point of having more?” and “We both know some people who own more than a billion dollars and they’re not any the happier. They also need bodyguards.” I found that to be such a refreshing attitude. The guy surely does OK, and is maybe even a millionaire. But he doesn't really see the need to turn that millions into tens or hundreds of millions. I'm sure Bogle has done even better than Newmark, but clearly his attitude is similar. He's concerned more about offering a great product than extracting money for himself. A while ago I read an interview with Craig Newmark of Craig’s List.

Craig’s List is of course phenomenally successful. But Newmark has not capitalized on its success by putting the company up for sale, or covering his site with ads. Regarding the sale of myspace for $15 billion, he said:

“Who needs the money? We don’t really care. … If you’re living comfortably, what’s the point of having more?”

and

“We both know some people who own more than a billion dollars and they’re not any the happier. They also need bodyguards.”

I found that to be such a refreshing attitude. The guy surely does OK, and is maybe even a millionaire. But he doesn’t really see the need to turn that millions into tens or hundreds of millions.

I’m sure Bogle has done even better than Newmark, but clearly his attitude is similar. He’s concerned more about offering a great product than extracting money for himself.

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