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The gamble paid off. Despite Stanford’s success in persuading two institutions to withdraw their oral commitments to Benchmark’s fund, other investors stepped forward and the partners secured the $85 million in institutional capital that they had announced they would raise. At Bob Kagle’s urging, the partners started business by giving their secret
... See moreRandall E. Stross • eBoys: The First Inside Account of Venture Capitalists at Work
For sheer grit and audacity, Harriman had few rivals, and he now proceeded on a daring, even reckless corporate raid that would shake Wall Street to its very foundations. Since Morgan and Hill had stonewalled his request for a one-third holding in the Burlington, he would proceed to attack them from the rear. He would, instead, stealthily buy contr
... See moreMichael P. Malone • James J. Hill: Empire Builder of the Northwest (The Oklahoma Western Biographies Book 12)
The 1862 Pacific Railway Act made yet another lavish grant of public lands to finance a railway line from the Missouri River to the Pacific Ocean, a dream of the prodevelopment party for more than twenty years. The undertaking was still at the very limits of current technology; the act needed several revisions to get the financing right; and the wh
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
That ruled out Europe and the United States. Taiwan was no good, as the Chinese might invade at any moment. Antigua had good laws but bad internet. Uruguay just felt weird. Dubai might have worked, but it would be hard on FTX’s large and growing population of Chinese female employees, and Sam bridled at the idea of the government telling people wha
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
I had never cared about the stock market. The stock page in the newspaper was as foreign to me as the sports page and about as useful. I hadn’t a clue about Wall Street. But when I heard that IAA was making big moves that could affect my business, I decided I should start to care. Marv sent me IAA’s prospectus, and I read it. Then I read it again.
... See moreWillis Johnson • Junk to Gold: From Salvage to the World’S Largest Online Auto Auction
WeWork’s valuation leapt from $17 to $20 billion, making it the fourth most valuable start-up in America, after Uber, Airbnb, and SpaceX.
Reeves Wiedeman • Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork
capitalism
Matt Little • 4 cards