Tumblr’s First Employee Explains Why Being Filthy Rich Is Horrible

marco.armentWhen Yahoo agreed to buy Tumblr for $1.1 billion a few weeks ago, it was met with mixed reactions by people who use Tumblr to blog. For early Tumblr employees, however, the acquisition was a jackpot.

Founder David Karp is set to reap about $200 million for the deal. After that comes Karp’s first employee, Marco Arment, who came on board way, way back in 2006. He wrote on his blog after the sale:

“While I wasn’t a ‘founder’ financially, David was generous with my employee stock options back in the day. I won’t make yacht-and-helicopter money from the acquisition, and I won’t be switching to dedicated day and night iPhones. But as long as I manage investments properly and don’t spend recklessly, Tumblr has given my family a strong safety net and given me the freedom to work on whatever I want. And that’s exactly what I plan to do.”

But even non-”yacht-and-helicopter money” can cause headaches, and now Arment is talking about why he’ll make a “terrible” rich person: He’s not interested in buying all the things rich people are expected to buy.

“I feel like there’s this big rich person management gap,” he told the Accidental Tech podcast. ”It would suck to hire a person to maintain your vacation house and in my opinion it also sucks to maintain a vacation house yourself.”

“For the same reason I didn’t want multiple cars anymore,” he added. “I hate all that crap.”

I’ll go out on a limb and guess that Arment will find a way to spend a reasonable chunk of his newfound riches: On tech, tasteful architecture, tasteful furniture for that tasteful home, and travel, just to take a few wild guesses. But his openness about finding wilder expressions of newfound wealth is kind of refreshing: It does sound like kind of a pain to maintain a second home, doesn’t it?


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