Episode 56: Learning to Manage Tech Wealth with Fred DeWorken
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Frederick DeWorken grew up on a 3-acre poor farm in Amarillo, Texas, and would travel to Santa Cruz, California every summer with his grandmother. In 1989 his step-father bought him his first computer. He has been hooked on "high-tech" ever since.
Connect with Frederick
https://www.linkedin.com/in/data-cloud/
In this episode of Tech Careers and Money Talk, host Christopher continues the conversation with Fred DeWorkin, the CEO and founder of Blue Yeti. In this part 2 episode with Fred, he shares his experiences in the Peace Corps, as well as his involvement in IPOs with Tableau and Snowflake.
The episode focused into the emotions and significance of going through the Snowflake IPO, offering insights into the world of investing and what it takes to be a successful investor.
Fred shares his journey from gaining P&L experience at major tech companies to becoming an investor in various real estate syndications and private companies like data.world. He discusses the emotional rollercoaster of experiencing sudden wealth, particularly during the Snowflake IPO, and the challenges of managing newfound financial success.
Episode Timeline:
00:00:00 - Introduction and Career Background
00:00:24 - Podcast Introduction
00:00:45 - Guest Introduction: Fred Dworkin
00:01:08 - Fred's IPO Experiences
00:03:07 - Sudden Wealth Syndrome
00:05:09 - Navigating Sudden Wealth
00:06:07 - Tax Concerns and Strategies
00:08:38 - Building Confidence Over Time
00:09:09 - Managing Equity and Cash
00:11:26 - Investment Strategies and Learning
00:13:31 - Experiential Learning in Investments
00:14:26 - Current Learning and Business Ventures
00:16:11 - Blue Yeti and Latin American Talent
00:18:12 - Building a Legacy
00:19:26 - Wealth Journey Advice
00:20:48 - Closing Remarks and Outro
