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How Do Silicon Valley Techies Celebrate Getting Rich in a Pandemic?
Not by buying airplanes. Instead, the newest start-up millionaires are proceeding cautiously.
Credit.Jan Buchczik
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SAN FRANCISCO Things are so hot in Silicon Valley that it’s freaking people out.
As tech start-ups have rushed to go public and valuations have soared, Aaron Rubin, a partner at Werba Rubin Papier Wealth Management, said his clients were in shock over their newfound wealth.
When the pandemic hit a year ago, tech workers worried that their start-up stock might never pay off. The whiplash, plus general unease about the economy, has now discouraged them from making the kinds of splurges that often accompany overnight fortunes, Mr. Rubin said. Compared with past booms, there is “more gratitude,” he said, and more plans for charity.