thx

[imlosinit]

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[viralhiker]

Sheesh. I wish my "hobbies" generated me millions of dollars. If you're not a troll, then you're being incredibly neurotic. No adcom is going to think that the student finding time to make it onto the Forbes 40 under 40 list while getting honors at a top school is bad news.

 

[deleted1080380]

I would think any school would love to slap their logo on someone who owns a company making 10MM++ regardless of what realm of 'business' it's in. Same reason schools feen over Olympic athletes or to put it simply...high acievers. Congrats!

As someone in business though, either you're some sort of genie or literally created zero calorie beer, because I've never seen someone go from a 'hobby' to 10MM++ in 3 months 😛

 

[IlDestriero]

I’m not sure why you still want to go into medicine. Several of my friends from college or their spouses had the lightning strike and used that windfall to become serial entrepreneurs, some making 9 figures. Medicine is headaches, bad hours, no respect and decreasing income. I thought the “Dr. Google” issue was bad before everyone is home all the time instead of at work where they monitor your screen time. Now everyone is a political insider, virologist, epidemiologist, and of course a vaccine expert as well. If you have a chance to pursue an alternative, making a difference in other ways, it’s worth serous consideration.

 

[4pf]

did u say 10M

 

[KnightDoc]

Sheesh. I wish my "hobbies" generated me millions of dollars. If you're not a troll, then you're being incredibly neurotic. No adcom is going to think that the student finding time to make it onto the Forbes 40 under 40 list while getting honors at a top school is bad news.

A hobby that blows up and generates any income at all in a few short months is a very impressive achievement, but, before everyone's head explodes here, in the business world $10M = $10,000 (Roman numeral M=1,000!).

$10,000 is nothing to sneeze at, but all M1s know that's equal to a little more than one month of med school, and what an attending will make in around two weeks, so it might not be worth changing career plans over, depending on how scalable and sustainable it is, as well as how much OP was called to medicine in the first place. 🙂

 

[Ellatha]

Hey y'all
I started a hobby back in March of this year, and until now it has blown up to something beyond my wildest expectations. The company is unrelated to medicine or STEM. We've done $10M in profit to date since late April. While I'm running the company, I'm also working 40 hrs a week at a lab and finished my last semester with a 4.0 at T20 school. My concern is that admission committee looks at this sideways and thinks it's a bad thing. Should I be worried or ashamed of this? I still intend to go to medical school 100%. This really blew up involuntarily and I had no idea it would become something this big. What do you guys think?

Your medical career is over. Start looking at careers in tech or business. If you’re dead set on medicine, consider nursing.

 

[LizzyM]

You aren't obligated to put this on your application if you think that it will hurt you in any way (while we assume this is a legal business, it may be something that you feel somewhat ashamed about???)

That said, having a successful side hustle is rather cool and will set you apart from the cookie cutter applicants.

 

[Goro]

Your medical career is over. Start looking at careers in tech or business. If you’re dead set on medicine, consider nursing.

Not sure if you're joking, as humor doesn't travel well over the electrons.

 

[Ellatha]

Not sure if you're joking, as humor doesn't travel well over the electrons.

Yes I’m joking lol

 

[Fano]

Should I be worried or ashamed of this?

Ashamed? I'd speculate on what hobbies might qualify but this is a family site. If you truly are embarrassed by your hobby, then you probably should be quiet about it.

 

[Kardio]

What’s the business?

 

[LizzyM]

Yes it’s legal lol just super unrelated to medicine

Well, there are med school faculty with side interests unrelated to medicine: landscape architecture, interior design, fiction writing. Don't know anyone doing fintech but maybe they wouldn't be chatting about that while we wait for a meeting to start.

 

[Fano]

Its the one thing that never bores me. I also have my personal reasons related to a disease me and my sister have

Well, having a 30-40 yr career in something has a way of making it boring. In any case, what could be better than having a career in a hobby? I was fortunate to leverage my passion into a career and if you have similar feelings about your hobby, I'd encourage you to think long and hard about where you see yourself 10 yrs from now. FWIW, if I were an adcom, I'd have a lot of fun questioning you on this. I would expect "why medicine?" might be a little more of a hill to climb for you.

 

[Destalchemy]

I’m not sure why you still want to go into medicine. Several of my friends from college or their spouses had the lightning strike and used that windfall to become serial entrepreneurs, some making 9 figures. Medicine is headaches, bad hours, no respect and decreasing income. I thought the “Dr. Google” issue was bad before everyone is home all the time instead of at work where they monitor your screen time. Now everyone is a political insider, virologist, epidemiologist, and of course a vaccine expert as well. If you have a chance to pursue an alternative, making a difference in other ways, it’s worth serous consideration.

You have several friends making over ONE HUNDRED million dollars? Surely you realize how far from the norm this is, even amongst the elite

 

[IlDestriero]

You have several friends making over ONE HUNDRED million dollars? Surely you realize how far from the norm this is, even amongst the elite

Yes. I have several friends that made over $100M, some well over, almost all from founding businesses that they took public or sold. One is the managing partner of a well known hedge fund. I don’t think it’s particularly uncommon for people that went to elite schools, or have lived where I have lived, to have made many high flying friends that went on to extraordinary success. I’m also not as young as most folks here. My friends had decades to make that happen. Most made their money in the tech sector btw, not surprisingly. 2 of my wealthiest friends made it the old fashioned way, they married the only daughters of billionaires. That’s the way to do it. 😉
I’m an underachiever.

The point of the post was that if the OP has found a niche unicorn that is blowing up, he may be better served developing that than medicine at this time. Even if that’s not a passion, it could open doors to different opportunities that were not really on the table when he made his medical school plan several years ago.

 

[Current-big-pharma-shill]

Yes. I have several friends that made over $100M, some well over, almost all from founding businesses that they took public or sold. One is the managing partner of a well known hedge fund. I don’t think it’s particularly uncommon for people that went to elite schools, or have lived where I have lived, to have made many high flying friends that went on to extraordinary success. I’m also not as young as most folks here. My friends had decades to make that happen. Most made their money in the tech sector btw, not surprisingly. 2 of my wealthiest friends made it the old fashioned way, they married the only daughters of billionaires. That’s the way to do it. 😉
I’m an underachiever.

The point of the post was that if the OP has found a niche unicorn that is blowing up, he may be better served developing that than medicine at this time. Even if that’s not a passion, it could open doors to different opportunities that were not really on the table when he made his medical school plan several years ago.

Redirect Notice

Given there are only 5,000 households in the entire US ( or 0.0017% of the population) yes, it is uncommon to personally know even one of such individuals let alone multiple let alone multiple who are not celebrities/athletes. Your in-group is extraordinarily insular.

 

[KnightDoc]

Redirect Notice

Given there are only 5,000 households in the entire US ( or 0.0017% of the population) yes, it is uncommon to personally know even one of such individuals let alone multiple let alone multiple who are not celebrities/athletes. Your in-group is extraordinarily insular.

Not to quibble, but, a helluva lot of wealth has been created since 2014, and that's even before taking inflation into account. I'm sure $100 million isn't what it used to be, and that FAR more than 5,000 US households can lay claim to that distinction in 2021. Yes, @IlDestriero undoubtedly keeps very exclusive company, but it's not quite as unbelievable as a 6 year old article from Forbes would make it appear.

 

[viralhiker]

A hobby that blows up and generates any income at all in a few short months is a very impressive achievement, but, before everyone's head explodes here, in the business world $10M = $10,000 (Roman numeral M=1,000!).

Yes. I have several friends that made over $100M

@KnightDoc, you should probably correct our well-connected friend here on their use of Roman numerals. /s

 

[Fano]

@KnightDoc, you should probably correct our well-connected friend here on their use of Roman numerals. /s

So the $5000 in my bank account = $5M? Holy s***! I'm a multi-M-ionaire! lol.

 

[KnightDoc]

@KnightDoc, you should probably correct our well-connected friend here on their use of Roman numerals. /s

No need. It's clear from the context of his post that he is talking about $100MM. Not so clear at all from OP, where making $10,000 from a hobby after a few months would be great, but not extraordinary, while making $10,000,000 in that period of time would be so off the charts that I'd want to see audited financial statements before believing it.

But, yeah, if you venture outside of SDN, when you say 10M you are saying 10,000, not 10,000,000. Certainly, anywhere where they know what they are doing, like a bank, or Wall Street! 🙂

 

[jamaica jan sun princess]

While technically incorrect, M is often used to denote millions of dollars. So @imlosinit , is that $10 million or $10 thousand in profit or gross income?

For what it's worth, I included non-medically related work/activities on my application. I believe it showed schools how busy I was while in school and that I'm not one-dimensional.

 

[Fano]

But, yeah, if you venture outside of SDN, when you say 10M you are saying 10,000, not 10,000,000. Certainly not anywhere where they know what they are doing, like a bank, or Wall Street! 🙂

For many years, perhaps longer than you've been alive, I've managed multi-million $ budgets at a few multi-billion $ corporations where a couple were in the Fortune 100. While I might agree that they didn't know what they were doing, their use of M = million was not one of them.

 

[EdgeTrimmer]

For many years, perhaps longer than you've been alive, I've managed multi-million $ budgets at a few multi-billion $ corporations where a couple were in the Fortune 100. While I might agree that they didn't know what they were doing, their use of M = million was not one of them.

but you are not a pre-med 😎

 

[IlDestriero]

I’m just a lazy professor and suburban physician, not a banker. That probably explains why I’m not worth $100m.

 

[KnightDoc]

For many years, perhaps longer than you've been alive, I've managed multi-million $ budgets at a few multi-billion $ corporations where a couple were in the Fortune 100. While I might agree that they didn't know what they were doing, their use of M = million was not one of them.

I don't mean to derail the thread any more than necessary, but if you insist on correcting me, I'll point you to the following quote from corporatefinanceinstitute.com, and ask you to point out where it is incorrect:

"In finance and accounting, MM (or lowercase “mm”) denotes that the units of figures presented are in millions. The Latin numeral M denotes thousands. Thus, MM is the same as writing “M multiplied by M,” which is equal to “1,000 times 1,000”, which equals 1,000,000 (one million)."

 

[Fano]

I don't mean to derail the thread any more than necessary, but if you insist on correcting me, I'll point you to the following quote from corporatefinanceinstitute.com, and ask you to point out where it is incorrect, since you are such a master of finance as well as premed parenthood.

"In finance and accounting, MM (or lowercase “mm”) denotes that the units of figures presented are in millions. The Latin numeral M denotes thousands. Thus, MM is the same as writing “M multiplied by M,” which is equal to “1,000 times 1,000”, which equals 1,000,000 (one million)."

Lol! The very same website says this: "Frequently, in finance and accounting settings now, an analyst will use k to denote thousands and a capitalized M to denote millions." MM (Millions) - Definition, Examples, What MM Means

I don't claim to be an expert in finance. I only stated facts from my own experience which directly refutes this:

But, yeah, if you venture outside of SDN, when you say 10M you are saying 10,000, not 10,000,000. Certainly, anywhere where they know what they are doing, like a bank, or Wall Street!

So not only did the companies I worked for not know what they were doing, according to you, so does the very same website you are trying to use to bolster your own foolish statement.

(BTW, what does me being a pre-med parent have to do with this? Your very strange bias continues to rear its head.)

The first rule of holes: When in a hole, stop digging.

 

[Fano]

but you are not a pre-med 😎

Indeed, which is why I live vicariously through my pre-med kid and accept being told I'm a bad parent on SDN from 1st quartile Casper scorers. 😆

 

[KnightDoc]

Lol! The very same website says this: "Frequently, in finance and accounting settings now, an analyst will use k to denote thousands and a capitalized M to denote millions." MM (Millions) - Definition, Examples, What MM Means

I don't claim to be an expert in finance. I only stated facts from my own experience which directly refutes this:

So not only did the companies I worked for not know what they were doing, according to you, so does the very same website you are trying to use to bolster your own foolish statement.

(BTW, what does me being a pre-med parent have to do with this? Your very strange bias continues to rear its head.)

The first rule of holes: When in a hole, stop digging.

I stand corrected. M=million. OP made $10M in 3 months through a side hustle and wonders whether adcoms will view it negatively, and someone's dad has nothing better to do than stalk a premed forum and flex his finance knowledge to put a lowly premed in his place.

For the record, M=1,000. Apparently common usage has converted that to k=1,000 and M being used incorrectly to mean million, but, whatever. You're right and I'm wrong. Carry on! 😎