Knowledge vs The almighty $$

Keep up with the business. You can always go to law school.

 

As a current undergrad student consider post-graduate education, I would tell him to go for it. Just because Y goes to law school doesn't mean that he has to be a lawyer. The knowledge of law will be an invaluable asset to him in his own businesses. Sure, he may pay for legal counsel, but his own knowledge will save him a lot of headaches and potential business pitfalls. A lot of the previous post-ers have stated that Y would "always have time for school." Truth is.....no he won't. Not only will his businesses get going, but he'll get married, have kids...the whole nine yards. Now is the best time for him to do this.

Y...GO FOR IT!

 

You know you can defer for a year, right?

Yale is pretty lenient about that. You could fill out the deferral now, grow and sell the businesses as a healthy, growing company in the summer of '06 and start for the class of '09.

Also, going to YLS doesn't mean you have to be a lawyer with no time for family, etc. Just roll into different or larger business deals if you must sell.

 

Ryan, my apologies. It is presumptuous of me to lecture you on how to live your life. I used to be a college professor in a past life, and old habits die hard.

I had forgotten that you and your family are recent immigrants to our great country. Indeed, it due to people like yourself why I’m not the least bit concerned about the US losing its superpower status. Our past greatness was built by wave after wave of immigrants like yourself. I’m heartened to see that our tradition continues with people like you.

So, of course, you should factor family concerns into your decision. At the end of the day, family is all any of us ever have.

However, I can’t resist taking just one last shot. The American Dream is all about individualism. The focus is not on God, Country or Family. Instead, the Dream is for you and everybody else to be the very best that they can be, even if that means failure. What makes America great is everyone has the opportunity to achieve their individual goals. Sure, some have it easier than others. Some have it harder. But if you want to do it, the door is open.

Ryan, you have a talent. Your acceptance into Yale Law is proof of this talent. Trust me on this. Yale knows what it is doing in making you an offer.

The only question is what are you going to do with this talent? Going to Yale Law is not the only option you have. Your recent business successes clearly show that you have choices. But, you gotta admit that Yale offers one hellula point of beginning.

You should, of course, follow your own instincts. Just make sure that you understand what you are potentially walking away from.

Dale

 

This one of those situations where 'Y' will always wonder for the rest of the their life "what if..."

If 'Y' decides to go to Yale, they will wonder for the rest of their life how much money they could have made if they had stuck with the business.

If 'Y' sticks with the business, they will wonder for the rest of their life about the kinds of people they would have met at Yale and what other doors could have opened.

I know that doesn't help any, but I think that Y should go to Yale. Why? Percisely for what I said above...the people they could meet and the doors that could open. If Y is already so successful, then that success is probably because of who Y is. That means that, after Yale, Y will be able to go back into business and probably be just as successful, if not more so.

Just give it a shot.

 

I understand the fact that he doesn't want the firm job. Hence the reason I reason I stated that it may help in a lot of different fields. Also if the friend wanted to get a JD there is none better than Yale. It is a big decision to say the least.

Also, I know that starting a firm is no easy task, but the fact is it is possible. Especially with someone with good business sense.

Wachtell was founded in 1965 by four NYU grads. It is now the most prestigious firm in the country. With an average of over $2M a year in compensation for their attorneys. I understand that the partners skew this average, but if you are a founding partner you are one of the people benefitting from that number.

And

Thank you.

 

While $2m a year is nice, it's the class action and tort lawyers and personal injury guys that have private jets...



PS: IIRC, Wachtell also makes you have dinner together at night. Sure, great bonding with the ol' boys, but not family-friendly.

 

Ryan,

(Your leaving all the financial numbers out - so I will leave them out of my reasoning. If you care to offer them later, my thoughts might change)

You must really like your friend to make such an effort for him. I hope he appreciates it. Honestly, if Y passes on this opportunity to attend Yale I think he will regret it. As we get older it is amazing how fast time goes by. A little sacrifice at this stage of life is the mature decision and he will benefit in the long run. The benefit will be measurable and substantial. Any entrepreneur that believes in himself will be able pickup where he left off and he should know that.

I would like to hear more about these businesses. I don't understand why the details haven't been provided. If these businesses are sellable, Y has two options. One, Y could establish a management team to take over while away and maintain an income. Two, Y could sell them and and receive installment payments similar to what he was pulling out while in school.

I wish the best for Y whatever he decides.........It is important he understands there are people that want the best for him and his family.

- Good luck

 

Dude, do you have something to share with the class?

 

Where do I pick up my prize?

 

Congrats, man.

 

Wow. I hope your friend trusts the manager. Of course, your friend probably already had those nauseating thoughts, which makes it even more admirable that he's making the tough choices.

 

beautiful.

 

It sounds like you managed to make the best of the situation on both ends! Congrats and good luck!

Oh, by the way see below as a foot note

 

Good luck....

I mean, tell your friend, good luck.

 

That's awesome! So happy for "Y" Good luck with every endeavor, educational or otherwise. Hope to hear great things. Keep us posted.