Vinay Hiremath, Co-founder of Loom, opened up about the insecurities and struggles he has faced after becoming wealthy, stated a report by Moneycontrol. The Indian-origin entrepreneur made millions when his start-up was sold to Atlassian for $975 million in 2023.
In a blog post titled "I am rich and I have no idea what to do with my life," Hiremath shared how life has felt directionless since the acquisition. “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 don’t have the same base desires driving me to make money or gain status,” he wrote.
Despite having “infinite freedom,” Hiremath admitted he doesn’t know what to do with it and expressed a lack of optimism regarding life.
Reflecting on personal struggles, Hiremath revealed his painful breakup with a girlfriend with whom he shared “two years of unconditional love.” He attributed the breakup to his insecurities, calling it "extremely painful" but necessary. Addressing his ex, he wrote, “If my ex is reading this. Thank you for everything. I am sorry I couldn’t be what you needed me to be.”
Hiremath also discussed his decision to leave Loom’s acquiring company despite the allure of a $60 million pay package as CTO. Retreating to the redwoods to find clarity, he decided to leave the role to “do something. Anything. To be alive again.”
In pursuit of purpose, he explored several ventures, including meeting with investors and robotics experts. However, these efforts left him uninspired. “It started to dawn on me that what I actually wanted was to look like Elon, and that is incredibly cringe,” he confessed.
His quest for meaning took him to the Himalayas, where an inexperienced climb left him ill and needing rescue. After recovering, he briefly joined DOGE, reaching out to figures like Elon Musk and Vivek Ramaswamy. However, after four intense weeks, he abandoned plans to move to Washington DC, and instead booked a one-way ticket to Hawaii.
Currently, Hiremath is learning physics with the goal of starting a company that “manufactures real-world things.” He has accepted that it might not achieve the same success as Loom, saying he’s “okay with that.”
