Loom co-founder Vinay Hiremath sold his startup to Atlassian for nearly $1 billion in 2023 and pocketed $50-$70 million personally. Despite this financial windfall, Hiremath reports having "no income right now" and is actively "looking for internships." His decision to turn down a $60 million retention bonus from Atlassian underscores his quest for personal growth over financial gain.
Currently, Hiremath spends significant time "studying physics 5-8 hours daily" and engages with younger peers in Discord groups. The shift to academic pursuits reflects his uncertainty about the future, as articulated in his blog post: "Life has been a haze this last year. After selling my company, I find myself in the totally un-relatable position of never having to work again. Everything feels like a side quest, but not in an inspiring way. I have infinite freedom, yet I don’t know what to do with it, and, honestly, I’m not the most optimistic about life."
Hiremath's search for purpose extends to potential internships in engineering. "I am potentially, hopefully – knock on wood – interviewing at a few different startups here, like a couple of robotics companies, to basically intern as a mechanical engineer," he said on Moneywise podcast. He also expressed interest in exploring electrical engineering. This move indicates a shift from corporate leadership to a more hands-on technical role.
Despite his wealth, Hiremath turned down a lucrative retention offer, citing his disinterest in staying at the acquiring company. He described his inner conflict vividly: "Last March, I had no idea what to do with my life. I knew that staying at the acquiring company was not for me for the big company reasons you might suspect."
Hiremath briefly considered entrepreneurship in robotics, inspired by figures like Elon Musk. However, he quickly realised his motivations were misplaced, noting, "It started to dawn on me that what I actually wanted was to look like Elon, and that is incredibly cringe." His experiences working on a cryptocurrency project with Musk further solidified his understanding of business urgency.
Currently, Hiremath prioritises learning over launching another startup. His statement, "And then I want to intern as an electrical engineer. I really don't know what I'm going to do with this," highlights his commitment to exploration and education rather than immediate entrepreneurship.