30 million dollars for 30 years of work? He's asking for a million a year, so that's $228 per hour if he works 12 hours a day every day of the year for 30 years.
Guys, that 30 mil is paid out over 30 years. So, for anyone who is a fellow Finance major, they'll clearly see that one must use NPV to calculate the actual current value of that 30 mil. As it is really early, I don't feel like getting out of bed and calculating what it is. It also varies based on the discount rate used. I'd figure 5% would be fairly accurate for Inflation and Risk-Free interest rate. The 30-year treasury bond is currently around 5%.
But, the point is, that 30 mil is closer to 15-20 mil in actual terms, as a dollar tomorrow is worth less than a dollar today.
As to the aution itself, the guy seems to be pretty successful, and is just having one more business idea for himself.
I have to agree with Tass on this one. It just seems like the guy has run out of drive and is hoping to avoid the lengthy and stressful job search... although this can't be too reliable.
Gamepro... I would actually venture that 30 million for that person would be too little. Many successful businessmen and other white collar professionals make over a million a year. Plus, this guy seems to be decent at business startups already, and would likely continue this process as a career, most likely making 7 figures. Plus, he would be his own boss.
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