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> These are companies that in the Valley are referred to as "lifestyle businesses" in a derogatory fashion, as they'll never be "IPO" money.

What's funny is that small and mid-size businesses that Silicon Valley looks down on can generate IPO money.

Founders, senior management and investors can make vast fortunes when companies go public, but "IPO money" for rank-and-file employees is typically in the six and seven figures, and that's in best case scenarios.

A lot of small businesses generate net profits of six and seven figures annually. My SO's uncle, for instance, makes over a million dollars a year running a services business. So every year, he's banking more than many employees will make in one-off IPO windfalls. There are tons of business owners like him in this country.

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