Butterfield: Retired tech executives buy sports teams to retain lost prestige
Stewart Butterfield · 20VC: Slack Founder Stewart Butterfield on Leadership Styles, Decision-Making, The 3 Levels of Wealth, IPOs vs Direct Listings & Why Effective Entrepreneurship is Like Parkour · Nov 16, 2020 · at 12:33
Stewart Butterfield, founder of Slack, offers armchair psychoanalysis on why successful founders and executives become investors or buy professional sports teams after stepping down.
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“It is funny that there's like a class of occupation that is professional football team owner, because it's people who have retired from companies where they had a lot of prestige, and they had a lot of power and wealth, and they're not ready to just be that who they are as a person without any of that, and therefore they, and this is my armchair psychoanalysis, so who knows, but my sense is that they adopt something that sometimes being an investor, sometimes owning a football team or something like that, that makes you still have a position in the world outside of yourself”
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