Entrepreneurialism isn’t a choice, it’s a state of mind.
Posted by freedomforall 2 weeks ago to Business
Excerpt:
"“Get out of the car! Get the f**k out of my car.” That’s a paraphrase of the words of the recently passed, and incomparably GREAT Bernie Marcus. Marcus, along with Arthur Blank and Ken Langone, co-founded The Home Depot.
The individual Marcus ordered out of his car was a venture capitalist, and more crucially for Marcus and his colleagues, a venture capitalist who had agreed to invest $3 million in The Home Depot. As Marcus recalled in Built From Scratch, the 1999 business memoir he co-authored with Blank, “we needed that $3 million the way somebody dying of stab wounds needs blood in his veins.”
Yet the principled Marcus still wouldn’t take a cent from the investor precisely because the investor insulted Marcus and the team he’d put together with all sorts of demands. They would have to give up health insurance, and accept even less pay than the low pay they’d already accepted in return for risky employment at a business that was more a concept than a business.
Marcus’s actions from long ago raise an obvious question: With money extraordinarily tight for a concept that had attracted no interest from blue-chip investment banks (they went with the wonderful Ken Langone and his “no-name investment bank”), why didn’t Marcus accept the terms (any terms) necessary to keep things afloat?"
"“Get out of the car! Get the f**k out of my car.” That’s a paraphrase of the words of the recently passed, and incomparably GREAT Bernie Marcus. Marcus, along with Arthur Blank and Ken Langone, co-founded The Home Depot.
The individual Marcus ordered out of his car was a venture capitalist, and more crucially for Marcus and his colleagues, a venture capitalist who had agreed to invest $3 million in The Home Depot. As Marcus recalled in Built From Scratch, the 1999 business memoir he co-authored with Blank, “we needed that $3 million the way somebody dying of stab wounds needs blood in his veins.”
Yet the principled Marcus still wouldn’t take a cent from the investor precisely because the investor insulted Marcus and the team he’d put together with all sorts of demands. They would have to give up health insurance, and accept even less pay than the low pay they’d already accepted in return for risky employment at a business that was more a concept than a business.
Marcus’s actions from long ago raise an obvious question: With money extraordinarily tight for a concept that had attracted no interest from blue-chip investment banks (they went with the wonderful Ken Langone and his “no-name investment bank”), why didn’t Marcus accept the terms (any terms) necessary to keep things afloat?"
Yet, there is a need for good honest financiers, including venture capitalists, and of course the bondholders who are usually the financial intermediaries of the country.
First time I've seen those 3 words used together. ;^)
How the h*** did you think new worlds were ever discovered?
It has been the accumulation of capital by honest men, and their efficient and honest allocation of those resources that has helped science and technology flourish and raise the standard of living for everybody.
I think you're a secret anti-capitalist. Maybe.
You are well read about banking centuries ago.
Catch up on the way banksters work now. Read The Creature From Jekyll Island.
Otherwise you have a big gap in your knowledge.
Free market banking no longer exists in the 'west.'
What you don't know won't hurt you.
There are still too many liberal communists running around loose, who will take my words and ideas and twist them and then use them to promulgate a new version of Leftist thinking.
And two, I am interested in the prevention of further misuse and abuse of the system.
And three, I will never choose to read a supposedly true and informative book about conspiracies with the title "The Creature From Jekyll Island"
And four, I actually know more than you or whoever ascribes conspiracies willy nilly. Believe it or not, your opinions do not concern me.