Colin Charles Agenda

A temporary manager of your assets

Oleg Tinkov, a Russian oligarch, at his recent Lunch with the FT interview:

Tinkov says the major difference between himself and more conventional Russian oligarchs is simple: “I don’t depend on the government like they depend on it.” Most oligarchs are “temporary managers of their assets — they are not real owners”.

This got me thinking quite a bit, because the idea of being a temporary manager of your assets is an interesting (albeit, true) one. This is probably true in many situations, and one that resonates in the startup world is when you’ve taken on venture funding. It also applies to most of the Top 10 list of richest businessmen in Malaysia, whom largely got their wealth through rent-seeking/cronyism/etc.

It doesn’t however apply to a bootstrapped company I would think (where you are a real owner); there you just have to wait till you become profitable and proud!