Apple founding papers sold at auction for nearly $1.6m

Re:Apple founding papers sold at auction for nearly $1.6m by jcr on Wednesday December 14, 2011 @06:33AM (#3351462)

The reason to buy them at that price is bragging rights. You probably just lack the required vanity, and that's a good thing.

http://www.paulgraham.com/notnot.html

"One thing you learn when you get rich is that there are many degrees of it." --PG

With 20K in seed funding, that 1.6M could help to start 80 startups. Even with the claimed 90% failure rate, the odds are you'd have 8 successful companies employing people, creating wealth, adding value, and providing things people want. It may not result in bragging rights amongst the rich and famous, but the world would be a better place. It's not the wealth of seed and angel investors that's impressive, instead, it's what they do with their money. Extravagance like this auction makes the differences painfully clear.

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Re:Apple founding papers sold at auction for nearly $1.6m by marvin on Wednesday December 14, 2011 @07:34AM (#3351571)

Well...the 1.6 million dollars didn't mysteriously disappear when these documents were sold, they were exchanged with someone who will presumably at some point use them for something else. So the purchase was definitely extravagant, but no one was hurt in the process.

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