The path to becoming rich
Hey everyone!
Welcome back to Spark Teen Weekly. Each week, we'll send you handmade, hand-picked, and handpacked content on teen entrepreneurship, investing, creating, and more.
Let’s dive in 👇
🧠 Resources and Opportunities
Y Combinator Winter 2022 - Have a startup? Need money? Early deadline applications are due on July 19, 2021. Apply now!
SciFounders - A fellowship program dedicated to helping early career scientists start companies with cash prizes of $400,000 to each winning team. Enter now!
The Knowledge Society - Apply from anywhere in the world to the TKS Global Virtual Program, a 10-month experience for students ages 13-17 who want to solve the world’s biggest problems.
💵 The path to becoming rich
Lamborghinis, mansions, and 14k gold toilets. The ultimate definition of wealth, right? Think again.
As Derek Sivers puts it, being rich is not about quantity—it’s about having more than you spend and maximizing this difference. Yes, you can be rich without being in the top 1%. How?
Live intentionally and don’t fall for the luxe lifestyle of your favorite Instagram influencer.
Use your financial freedom on something that compounds in value, like education.
🏆Navigating success for your startup
Your company has launched and is doing well. You have investors, a product, and an active audience. What now?
Firstly, as Sam Altman writes, don’t get greedy. Raising too much money or money that values your company too high can reduce your optionality. Be brutally honest with yourself and your investors: how much is your company going to increase value?
Secondly, create a plan for eventual acquisition. Develop lasting relationships with potential buyers and grow your network and exposure.
📚 What else we’re reading
I’m feeling inspired: Check out these startups founded by women and their advice, challenges, and path to success. “An investment in knowledge pays the best interest” - Ben Franklin.
I’m feeling creative: Building a solid foundation becomes easier when you’re learning from the best. Take a look at this essay on forming startup ideas by Paul Graham.
That's it for this week!
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Mei & Jodi from the Spark Teen team