Forged in America E11: Groupon's Rich Heise: He Quietly Built $35B Of Companies
Jan 26, 2026
Rich Heise, Chicago tech investor and entrepreneur who founded Magnitude Networks and backed companies like Groupon and Echo, recounts his Silicon Valley and Midwestern journey. He talks about timing in tech, building repeatable business models, navigating IPOs and partnerships, and why he keeps launching startups. He also shares stories about resilience, community rituals like Old Man Hoops, and managing wealth and legacy.
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Prep School Perspective On Wealth
- Rich describes prep-school culture as wealthy kids who often struggle because they never learned self-reliance.
- He worried about raising his own children with wealth but later felt relieved seeing their adult outcomes.
Getting Fired Fueled A Career Pivot
- Rich got fired from Northern Trust after trying to start side initiatives and found the exit liberating.
- That firing pushed him into debt restructuring and later entrepreneurship.
From Day Trading To Dot‑Com Startup
- Rich used day-trading gains and sale proceeds to fund a live-streaming radio startup, Magnitude Networks.
- He leveraged prior deal experience and shifted fast into the internet boom.
