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 Equity 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.

In this episode, we talk about:

• Experiencing IPOs with Tableau and Snowflake
• Overcoming sudden wealth syndrome
• Importance of diversification in investments
• Building a business legacy and putting people to work
• Financial education and wealth-building strategies

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