I’m writing to briefly update everyone on a great dinner session we had Tuesday night, hosted by VPP investors Doug and Gabriela Smith, on the challenges facing affluent families in raising children with values, motivation, perspective, responsibility and philanthropic interest. Six investor families participated in a very lively, candid, and thoughtful exchange about ways that each of us is working to instill in our children and help them develop a set of values that are consistent with our individual views --be it around work ethic and drive, respect for others, money, or other areas.
One key discussion point was how to provide for our children’s education and allow them the freedom to pursue their passions while encouraging their independence and drive to succeed. As one attendee said, quoting author Lee Hausner from her seminal work, Children of Paradise, "You don't want to deny your children the joy of accomplishment."
Another thread focused on discussing money and inheritance issues with children, which many felt they had put off doing, and were eager to learn how others in the group had approached this. We also shared ideas on service projects and ways to help our children safely explore and understand more of the world outside theirs.
I think Gabriela summed it up nicely in a note to attendees following the event, “…Personally, we found it both reassuring and invigorating to be among people who have had similar experiences -- not only similar in their understanding of the difficulties and joys of creating successful companies, but who are wrestling with the ramifications of this success on the lives of their children. VPP is indeed a special "community", and we felt much closer to this segment of the VPP community after last night. We deeply appreciate how open everyone was. It is invaluable to us to have the chance to share our thoughts and concerns, learn from each other, and hopefully find ways to work on these issues together…We greatly look forward to the next round table on this subject and continuing, for what we suspect is a never ending conversation.”
It was clear that the group is eager to come together again to exchange ideas and experiences, and we were very grateful to Katherine Bradley for graciously offering to host the next session. We will keep everyone posted as those plans develop. Thanks to both Doug and Gabriela Smith for being the catalysts for this discussion and for hosting the dinner, and to everyone who attended Tuesday for their candor and rich exchange of ideas!
As always, my best, Mario