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For rich kids, it's only money; Young people risk big pots, when they have time to do it.(Report: Wealthy New Yorkers)
Byline: Andrew Marks
Investing and promptly losing $60,000 on a startup company doesn't show up on many college student resumes. But then, not everyone is as rich as Gianni Martire.
The 23-year-old also had the wherewithal to recently leave a six-figure job at Merrill Lynch to co-found CollegeHotlist.com, a MySpace-style personal networking Web site.
"No matter what I do with these business ventures, I'm going to be comfortable, money-wise,'' points out Mr. Martire, whose immigrant parents struck gold in Manhattan real estate. "Losing all that money was a great learning experience. I absorbed my lesson, and I went on to the next thing.''
Mr. Martire belongs to a rapidly expanding class of younger New Yorkers for whom dropping $60,000 on a business venture or $100,000 on a Maserati requires no sacrifice.
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