100 Million Offers Quotes

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Let's say that the consensus is that our species, being the higher primates, Homo Sapiens, has been on the planet for at least 100,000 years, maybe more. Francis Collins says maybe 100,000. Richard Dawkins thinks maybe a quarter-of-a-million. I'll take 100,000. In order to be a Christian, you have to believe that for 98,000 years, our species suffered and died, most of its children dying in childbirth, most other people having a life expectancy of about 25 years, dying of their teeth. Famine, struggle, bitterness, war, suffering, misery, all of that for 98,000 years. Heaven watches this with complete indifference. And then 2000 years ago, thinks 'That's enough of that. It's time to intervene,' and the best way to do this would be by condemning someone to a human sacrifice somewhere in the less literate parts of the Middle East. Don't lets appeal to the Chinese, for example, where people can read and study evidence and have a civilization. Let's go to the desert and have another revelation there. This is nonsense. It can't be believed by a thinking person. Why am I glad this is the case? To get to the point of the wrongness of Christianity, because I think the teachings of Christianity are immoral. The central one is the most immoral of all, and that is the one of vicarious redemption. You can throw your sins onto somebody else, vulgarly known as scapegoating. In fact, originating as scapegoating in the same area, the same desert. I can pay your debt if I love you. I can serve your term in prison if I love you very much. I can volunteer to do that. I can't take your sins away, because I can't abolish your responsibility, and I shouldn't offer to do so. Your responsibility has to stay with you. There's no vicarious redemption. There very probably, in fact, is no redemption at all. It's just a part of wish-thinking, and I don't think wish-thinking is good for people either. It even manages to pollute the central question, the word I just employed, the most important word of all: the word love, by making love compulsory, by saying you MUST love. You must love your neighbour as yourself, something you can't actually do. You'll always fall short, so you can always be found guilty. By saying you must love someone who you also must fear. That's to say a supreme being, an eternal father, someone of whom you must be afraid, but you must love him, too. If you fail in this duty, you're again a wretched sinner. This is not mentally or morally or intellectually healthy. And that brings me to the final objection - I'll condense it, Dr. Orlafsky - which is, this is a totalitarian system. If there was a God who could do these things and demand these things of us, and he was eternal and unchanging, we'd be living under a dictatorship from which there is no appeal, and one that can never change and one that knows our thoughts and can convict us of thought crime, and condemn us to eternal punishment for actions that we are condemned in advance to be taking. All this in the round, and I could say more, it's an excellent thing that we have absolutely no reason to believe any of it to be true.
Christopher Hitchens
Even viewed conservatively, trees are worth far more than they cost to plant and maintain. The U.S. Forest Service's Center for Urban Forest Research found a ten-degree difference between the cool of a shaded park in Tucson and the open Sonoran desert. A tree planted in the right place, the center estimates, reduces the demand for air conditioning and can save 100 kilowatt hours in annual electrical use, about 2 to 8 percent of total use. Strategically planted trees can also shelter homes from wind, and in cold weather they can reduce heating fuel costs by 10 to 12 percent. A million strategically planted trees, the center figures, can save $10 million in energy costs. And trees increase property values, as much as 1 percent for each mature tree. These savings are offset somewhat by the cost of planting and maintaining trees, but on balance, if we had to pay for the services that trees provide, we couldn't afford them. Because trees offer their services in silence, and for free, we take them for granted.
Jim Robbins (The Man Who Planted Trees: Lost Groves, Champion Trees, and an Urgent Plan to Save the Planet)
The thing about Bell Labs, Frenkiel remarks, was that it could spend millions of dollars—or even $100 million, which was what AT&T would spend on cellular before it went to market7—on a technology that offered little guarantee it would succeed technologically or economically.
Jon Gertner (The Idea Factory: Bell Labs and the Great Age of American Innovation)
Demographics 30 points based on manual Prospect review 0-8 points based on title Source and Offer Website leads source: +7 Thought leadership offer: -5 Behavioral Engagement: Visit any webpage or open any email: +1 Watch demos: +5 each Register for webinar: +5 Attend webinar: +5 Download thought leadership: +5 Download Marketo reviews: +12 More than 8 pages in one visit: +7 Visit website 2x in one week: +8 Search for “Marketo”: +15 Visit pricing pages: +5 Visit careers pages: -10 (I especially love this one!) No Activity in One Month: Score >30: -15 points Score 0 to 30: -5 points
Aaron Ross (Predictable Revenue: Turn Your Business Into A Sales Machine With The $100 Million Best Practices Of Salesforce.com)
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Or take school attendance. Everybody seems to have different ideas on how to raise it. We should pay for uniforms. Advance school fees on credit. Offer free meals. Install toilets. Raise public awareness of the value of education. Hire more teachers. And on and on. All of these suggestions sound perfectly logical. Thanks to RCTs, however, we know that $100 worth of free meals translates into an additional 2.8 years of educational attainment – three times as much as free uniforms. Speaking of proven impact, deworming children with intestinal complaints has been shown to yield 2.9 years of additional schooling for the absurdly small investment of $10 worth of treatment. No armchair philosopher could have predicted that, but since this finding was revealed, tens of millions of children have been dewormed.
Rutger Bregman (Utopia for Realists: And How We Can Get There)
Xerox’s venture capital division wanted to be part of the second round of Apple financing during the summer of 1979. Jobs made an offer: “I will let you invest a million dollars in Apple if you will open the kimono at PARC.” Xerox accepted. It agreed to show Apple its new technology and in return got to buy 100,000 shares at about $10 each. By the time Apple went public a year later, Xerox’s $1 million worth of shares were worth $17.6 million. But Apple got the better end of the bargain. Jobs and his colleagues went to see Xerox PARC’s technology in December 1979 and, when Jobs realized he hadn’t been shown enough, got an even fuller demonstration a few days later. Larry Tesler was one of the Xerox scientists called upon to do the briefings, and he was thrilled to show off the work that his bosses back east had never seemed to appreciate. But the other briefer, Adele Goldberg, was appalled that her company seemed willing to give away its crown jewels. “It was incredibly stupid, completely nuts, and I fought to prevent giving Jobs much of anything,” she recalled.
Walter Isaacson (Steve Jobs)
The only path McAuliffe saw to hard-money parity ran through cycles of prospecting new donors, in the mail and online. To accomplish that on the scale he believed crucial, Democrats needed the list of 100 million new names, sortable by party registration or voting behavior, that would fill a national voter file. McAuliffe proposed a deal to the state chairs, that the DNC would effectively borrow their files, help clean them up, add new data like donor information and commercially available phone numbers, and then return them for the state party’s use. At the same time, McAuliffe went to Vinod Gupta, a major Democratic fund-raiser and Clinton friend who was the founder and CEO of InfoUSA, one of the country’s large commercial data vendors. Like many of his rivals, Gupta had been trying for years to find customers in the political world, and offered McAuliffe a good deal for his product. McAuliffe agreed, and as the state files came in, the DNC would send them out to InfoUSA’s Omaha servers, where hundreds of pieces of new information were added to each voter’s profile. A new interface was built to navigate it all. It was called Demzilla.
Sasha Issenberg (The Victory Lab: The Secret Science of Winning Campaigns)
Along the way to Seattle, he wrote his business plan. He identified several reasons why the book category was underserved and well suited to online commerce. He outlined how he could create a new and compelling experience for book-buying customers. To begin with, books were relatively lightweight and came in fairly uniform sizes, meaning they would be easy and inexpensive to warehouse, pack, and ship. Second, while more than 100 million books had been written and more than a million titles were in print in 1994, even a Barnes & Noble mega-bookstore could stock only tens of thousands of titles. An online bookstore, on the other hand, could offer not just the books that could fit in a brick-and-mortar store but any book in print. Third, there were two large book-distribution companies, Ingram and Baker & Taylor, that acted as intermediaries between publishers and retailers and maintained huge inventories in vast warehouses. They kept detailed electronic catalogs of books in print to make it easy for bookstores and libraries to order from them. Jeff realized that he could combine the infrastructure that Ingram and Baker & Taylor had created—warehouses full of books ready to be shipped, plus an electronic catalog of those books—with the growing infrastructure of the Web, making it possible for consumers to find and buy any book in print and get it shipped directly to their homes. Finally, the site could use technology to analyze the behavior of customers and create a unique, personalized experience for each one of them.
Colin Bryar (Working Backwards: Insights, Stories, and Secrets from Inside Amazon)
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BUYING OFF THE ENVIRONMENTALISTS Where are the environmentalists? For fifty years, they’ve been carrying on about overpopulation; promoting family planning, birth control, abortion; and saying old people have a “duty to die and get out of the way”—in Colorado’s Democratic Governor Richard Lamm’s words. In 1971, Oregon governor and environmentalist Tom McCall told a CBS interviewer, “Come visit us again. . . . But for heaven’s sake, don’t come here to live.” How about another 30 million people coming here to live? The Sierra Club began sounding the alarm over the country’s expanding population in 1965—the very year Teddy Kennedy’s immigration act passed65—and in 1978, adopted a resolution expressly asking Congress to “conduct a thorough examination of U.S. immigration laws.” For a while, the Club talked about almost nothing else. “It is obvious,” the Club said two years later, “that the numbers of immigrants the United States accepts affects our population size and growth rate,” even more than “the number of children per family.”66 Over the next three decades, America took in tens of millions of legal immigrants and illegal aliens alike. But, suddenly, about ten years ago, the Sierra Club realized to its embarrassment that importing multiple millions of polluting, fire-setting, littering immigrants is actually fantastic for the environment! The advantages of overpopulation dawned on the Sierra Club right after it received a $100 million donation from hedge fund billionaire David Gelbaum with the express stipulation that—as he told the Los Angeles Times—“if they ever came out anti-immigration, they would never get a dollar from me.”67 It would be as if someone offered the Catholic Church $100 million to be pro-abortion. But the Sierra Club said: Sure! Did you bring the check? Obviously, there’s no longer any reason to listen to them on anything. They want us to get all excited about some widening of a road that’s going to disturb a sandfly, but the Sierra Club is totally copasetic with our national parks being turned into garbage dumps. Not only did the Sierra Club never again say another word against immigration, but, in 2004, it went the extra mile, denouncing three actual environmentalists running for the Club’s board, by claiming they were racists who opposed mass immigration. The three “white supremacists” were Dick Lamm, the three-time Democratic governor of Colorado; Frank Morris, former head of the Black Congressional Caucus Foundation; and Cornell professor David Pimentel, who created the first ecology course at the university in 1957 and had no particular interest in immigration.68 But they couldn’t be bought off, so they were called racists.
Ann Coulter (¡Adios, America!: The Left's Plan to Turn Our Country into a Third World Hellhole)
The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” George Bernard Shaw On a cool fall evening in 2008, four students set out to revolutionize an industry. Buried in loans, they had lost and broken eyeglasses and were outraged at how much it cost to replace them. One of them had been wearing the same damaged pair for five years: He was using a paper clip to bind the frames together. Even after his prescription changed twice, he refused to pay for pricey new lenses. Luxottica, the 800-pound gorilla of the industry, controlled more than 80 percent of the eyewear market. To make glasses more affordable, the students would need to topple a giant. Having recently watched Zappos transform footwear by selling shoes online, they wondered if they could do the same with eyewear. When they casually mentioned their idea to friends, time and again they were blasted with scorching criticism. No one would ever buy glasses over the internet, their friends insisted. People had to try them on first. Sure, Zappos had pulled the concept off with shoes, but there was a reason it hadn’t happened with eyewear. “If this were a good idea,” they heard repeatedly, “someone would have done it already.” None of the students had a background in e-commerce and technology, let alone in retail, fashion, or apparel. Despite being told their idea was crazy, they walked away from lucrative job offers to start a company. They would sell eyeglasses that normally cost $500 in a store for $95 online, donating a pair to someone in the developing world with every purchase. The business depended on a functioning website. Without one, it would be impossible for customers to view or buy their products. After scrambling to pull a website together, they finally managed to get it online at 4 A.M. on the day before the launch in February 2010. They called the company Warby Parker, combining the names of two characters created by the novelist Jack Kerouac, who inspired them to break free from the shackles of social pressure and embark on their adventure. They admired his rebellious spirit, infusing it into their culture. And it paid off. The students expected to sell a pair or two of glasses per day. But when GQ called them “the Netflix of eyewear,” they hit their target for the entire first year in less than a month, selling out so fast that they had to put twenty thousand customers on a waiting list. It took them nine months to stock enough inventory to meet the demand. Fast forward to 2015, when Fast Company released a list of the world’s most innovative companies. Warby Parker didn’t just make the list—they came in first. The three previous winners were creative giants Google, Nike, and Apple, all with over fifty thousand employees. Warby Parker’s scrappy startup, a new kid on the block, had a staff of just five hundred. In the span of five years, the four friends built one of the most fashionable brands on the planet and donated over a million pairs of glasses to people in need. The company cleared $100 million in annual revenues and was valued at over $1 billion. Back in 2009, one of the founders pitched the company to me, offering me the chance to invest in Warby Parker. I declined. It was the worst financial decision I’ve ever made, and I needed to understand where I went wrong.
Adam M. Grant (Originals: How Non-Conformists Move the World)
Egypt, the country that boasts the first evidence of FGM some four thousand years ago, today offers the highest incidence of the practice. Egypt is a country of around 90 million people and, according to UNICEF figures in 2013, has the highest number of women who have been mutilated of any country in the world, nearly 30 million, or 91 per cent of the female population.8 This figure is nearer 100 per cent in the villages of the Upper Nile, where the river cuts a deep, wide passage through the desert plateau.
Sue Lloyd-Roberts (The War on Women)
During the bust, fuckedcompany.com—a snarky twist on the technology magazine Fast Company—became popular with the tech crowd. As its name suggested, Fucked Company logged the era’s many misadventures. Several X.com employees remembered browsing Fucked Company daily during this period—not out of schadenfreude, but out of fear that they might be next. That Confinity and X.com didn’t end up in the Valley’s discard bin was attributable to a number of factors, not least that it had enough runway to ride out a rocky year. “Back then, there were probably five to seven other little piddling online money moving services… that just got starved of oxygen over time. And they all died out by the fall,” said Vince Sollitto. Former employees point to the $100 million round’s timing as a watershed for PayPal. “I don’t think people know how precarious it was,” Klement offered. “If we hadn’t raised that $100 million round, there would be no PayPal.” Mark Woolway extended the counterfactual: “If the team hadn’t closed that one hundred million,” Woolway said, “there would be no SpaceX, no LinkedIn, and no Tesla.
Jimmy Soni (The Founders: The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley)
Son arrived at Yahoo’s office looking as slight and uncommanding as ever. But he brought a bazooka. In a bid without precedent in the history of the Valley, he proposed to invest fully $100 million in Yahoo. In return he wanted an additional 30 percent of the company. Son’s bid implied that Yahoo’s value had shot up eight times since his investment four months earlier. But the astonishing thing about his offer was the size of his proposed check: Silicon Valley had never seen a venture stake of such proportions.[21] The typical fund raised by a top-flight venture partnership weighed in at around $250 million, and there was no way it would put 40 percent of its resources into a single $100 million wager.[22] Private-equity investors and corporate acquirers sometimes made investments in the $100 million range, but in return they expected to take full control of companies.[23] Son, in contrast, would be a minority investor and on an unheralded scale. Because he had SoftBank’s corporate balance sheet behind him, he could pump in fully one hundred times more capital than Sequoia had provided when Yahoo got started. After Son dropped his bombshell, Yang, Filo, and Moritz sat in silence. Disconcerted, Yang said he was flattered but didn’t need the capital.[24] “Jerry, everyone needs $100 million,” Son retorted.[25]
Sebastian Mallaby (The Power Law: Venture Capital and the Making of the New Future)
I don’t think people know how precarious it was,” Klement offered. “If we hadn’t raised that $ 100 million round, there would be no PayPal.” Mark Woolway extended the counterfactual: “If the team hadn’t closed that one hundred million,” Woolway said, “there would be no SpaceX, no LinkedIn, and no Tesla.
Jimmy Soni (The Founders: The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley)
Despite the ubiquity of government-organized trans pageants in the Philippines, trans people themselves are not politically recognized. We are culturally visible but legally erased. To this day, trans Filipinas have M gender markers on their documents and cannot change their names in court. We don't have robust antidiscrimination protections. No amount of pageant glory can make up for the fact that our government still doesn't see and treat trans people as full citizens able to participate in society as we truly are. In a country of over 100 million people, only a few dozen certified endocrinologists offer gender-affirming care. Growing up, I relied on other trans people to find hormones, figuring out the right dosages through hearsay, transitioning entirely without proper medical supervision. There was no other choice back then - and for many today, DIY is still the only option. My community is littered with stories of injections gone horribly wrong. Even worse, when someone dies from an overdose or an unsupervised medical treatment, it's shrugged off as a sad fact of life. 'That's what happens,' the emergency techs will say, our lives stripped of value by the very institutions that ought to care for us. I will never forget when one of my Garcia clan sisters succumbed to death from a botched medical procedure, a victim of all the intersecting forces trans Filipinas have to navigate to get treatment.
Geena Rocero (Horse Barbie)
A British venture capital firm oddly named Hedosophia called and offered to pay what Sam asked—and hand over $100 million for a 0.05 percent stake in FTX. Ramnik hardly knew who they were and so arranged a call with them. “It was weird,” he said. “I felt they didn’t know enough about the business. Basic shit like they didn’t know that FTX US existed.
Michael Lewis (Going Infinite: The Rise and Fall of a New Tycoon)
When it comes to financial incentives, size matters. There are things that people will do for a lot of money that they’d never do for just a few dollars. The most devoted carnivore in the world might well go vegan if the tofu lobby offered him a $10 million stipend. And then there’s the tale of an economist on holiday in Las Vegas. He found himself one night in a bar standing beside a gorgeous woman. “Would you be willing to sleep with me for $1 million?” he asked her. She looked him over. There wasn’t much to see—but still, $1 million! She agreed to go back to his room. “All right then, ” he said. “Would you be willing to sleep with me for $100?” “A hundred dollars!” she shot back. “What do you think I am, a prostitute?” “We’ve already established that. Now we’re just negotiating the price.
Steven D. Levitt (Think Like a Freak)
A New Yorker by birth is David Karp, the child prodigy who at age 21, in 2007, founded Tumblr, whose headquarters are located just one block east of Hunch. The son of a composer and a science teacher, at 14 Karp began working as an intern in an online animation company; at 15, tired of traditional school, he continued to study at home alone, learning, among other things, Japanese; then he became the chief technology officer of the Internet site UrbanBaby and at 17 he went to Tokyo for five months by himself. In 2006, UrbanBaby was bought by CNET, and Karp used his share of proceeds to establish Tumblr, a blogging platform with elements of social networking that allows its users to follow other bloggers. Tumblr allows users to build a collection of content according to their own tastes and interests. Easy to use, with a format of short entries to be enriched with photos and videos, Tumblr has quickly gained many followers among the creative community as well as the public at large. Today it is home to nearly 70 million blogs, including those of Lady Gaga and Barack Obama, with a total audience of 140 million users. At 26, Karp is leading a company with over 100 employees, valued at more than $800 million, with shareholders of the caliber of Virgin Group’s Richard Branson. He defines Tumblr as new media, as opposed to technology, and seeks to attract non-traditional ads, inviting brands to create awareness and desire in their ads, rather than just trying to capture intent. Karp has already received several acquisition offers from other media groups, but he has always refused because he thinks big: he wants to reach billions, not millions of users and one day be in a position to acquire rather than be acquired. Meanwhile, in order to grow he is convinced that New York City, the capital of media and advertising, is the right city.[47]
Maria Teresa Cometto (Tech and the City: The Making of New York's Startup Community)
THE DSM-V: A VERITABLE SMORGASBORD OF “DIAGNOSES” When DSM-V was published in May 2013 it included some three hundred disorders in its 945 pages. It offers a veritable smorgasbord of possible labels for the problems associated with severe early-life trauma, including some new ones such as Disruptive Mood Regulation Disorder,26 Non-suicidal Self Injury, Intermittent Explosive Disorder, Dysregulated Social Engagement Disorder, and Disruptive Impulse Control Disorder.27 Before the late nineteenth century doctors classified illnesses according to their surface manifestations, like fevers and pustules, which was not unreasonable, given that they had little else to go on.28 This changed when scientists like Louis Pasteur and Robert Koch discovered that many diseases were caused by bacteria that were invisible to the naked eye. Medicine then was transformed by its attempts to discover ways to get rid of those organisms rather than just treating the boils and the fevers that they caused. With DSM-V psychiatry firmly regressed to early-nineteenth-century medical practice. Despite the fact that we know the origin of many of the problems it identifies, its “diagnoses” describe surface phenomena that completely ignore the underlying causes. Even before DSM-V was released, the American Journal of Psychiatry published the results of validity tests of various new diagnoses, which indicated that the DSM largely lacks what in the world of science is known as “reliability”—the ability to produce consistent, replicable results. In other words, it lacks scientific validity. Oddly, the lack of reliability and validity did not keep the DSM-V from meeting its deadline for publication, despite the near-universal consensus that it represented no improvement over the previous diagnostic system.29 Could the fact that the APA had earned $100 million on the DSM-IV and is slated to take in a similar amount with the DSM-V (because all mental health practitioners, many lawyers, and other professionals will be obliged to purchase the latest edition) be the reason we have this new diagnostic system?
Bessel van der Kolk (The Body Keeps the Score: Brain, Mind, and Body in the Healing of Trauma)
Persson did not create Minecraft because he wanted to create a billion-dollar company; he loved video games and kept his day job while developing it. When the game soared in popularity, he started a company, Mojang, with some of the profits, but kept it small, with just 12 employees. Even with zero dollars spent on marketing and no user instructions, Minecraft grew exponentially, flying past the 100 million registered user mark in 2014 based largely on word of mouth.2 Players shared user-generated extras like modifications (“mods”) and custom maps with each other, and the game caught on not only with children but their parents and even educators. Still, Persson avoided the valuation game, refusing an investment offer from former Facebook president Sean Parker. Finally, he and his co-founders sold Mojang to Microsoft for $2.5 billion, a fortune built on one man’s focus on creating something that people loved.3 On the other end of the spectrum is Zynga, one of the fastest startups ever to reach a $1 billion valuation.4 The social game developer had its first hit in 2009 with FarmVille. Next came Zynga’s partnership with Facebook that turned into a growth engine. The company began trading on the NASDAQ in December 2011 and had 253 million active users per month as late as the first quarter of 2013.5 Then the relationship with Facebook ended and the wheels started coming off. Flush with IPO cash, Zynga started exhibiting all the symptoms of ego-driven, grow-at-any-cost syndrome. They moved into a $228 million headquarters in San Francisco. They began hastily acquiring companies like NaturalMotion, Newtoy, and Area/Code. They infuriated customers by launching new games without sufficient testing and filling them with scripts that signed players up for unwanted subscriptions and services. When customer outrage went viral, instead of focusing on building better products, Zynga hired a behavioral psychologist to try to trick customers into loving its games.6 In a 2009 speech at Startup@Berkeley, CEO Mark Pincus said, “I funded [Zynga] myself but I did every horrible thing in the book to just get revenues right away. I mean, we gave our users poker chips if they downloaded this Zwinky toolbar, which . . . I downloaded it once — I couldn’t get rid of it. We did anything possible just to just get revenues so that we could grow and be a real business.”7 By the spring of 2016, Zynga had laid off about 18 percent of its workforce and its share price had declined from $14.50 in 2012 to about $2.50.
Brian de Haaff (Lovability: How to Build a Business That People Love and Be Happy Doing It)
There are two ways to handle this: Say, “Now that I’ve analyzed sales, I’d like to analyze costs next.” Say, “I can conclude that sales are not causing the profit problem, because first, sales have remained unchanged in the past year, and second, costs have gone up by $10 million and account for 100 percent of the problem. I would like to analyze costs now to understand better which costs have increased and why.” The synthesis in the second version is much better.
Victor Cheng (Case Interview Secrets: A Former McKinsey Interviewer Reveals How to Get Multiple Job Offers in Consulting)
The TCJA also offers an added “bonus depreciation.” Before TCJA, business owners were limited to bonus depreciation of up to 50 percent of the cost of a new asset in the year it was purchased. Now bonus depreciation has been expanded to 100 percent and can be used for existing assets as well. I know it sounds like Section 179 and bonus depreciation are the same, but they have two very important differences: there’s no annual limit on bonus depreciation (unlike the $1 million limit under Section 179), and bonus depreciation is not limited to the profits (meaning it can create a net loss). These deductions can be tricky to maneuver, so talk to a pro.
Michele Cagan (Real Estate Investing 101: From Finding Properties and Securing Mortgage Terms to REITs and Flipping Houses, an Essential Primer on How to Make Money with Real Estate (Adams 101 Series))
complement the first. The initial credit line Junior offered for investing in artists was only $100 million, much less than what had been available at Warner, but Morris could see that, sitting on a limitless tap of booze money, there was a lot more where that came from.4 Best of all, Seagram was domiciled in Canada, where the lyrics of popular rap songs were not a pressing political issue. Although Jimmy Iovine and Doug Morris were temporarily estranged as colleagues, they remained best friends and hoped to reunite. Fuchs’ actions had stung them both, and Iovine had raised such a stink after Morris’ sacking that he was no longer permitted in the Time Warner Building. Under normal circumstances, he too would have been fired, but Iovine didn’t actually work for Warner directly—he was an equity partner in a joint venture, and the only way to get rid of him was to sell him back his shares. This was an expensive proposition, as Interscope had diversified beyond rap, signing No Doubt, Nine Inch Nails, and Marilyn Manson. Together, the two came up with a plan. Iovine, the agitator, would make himself unbearable to Fuchs, and push extreme albums like Dogg Food and Antichrist Superstar that made the provocations of The Chronic seem boring by comparison. Morris,
Stephen Witt (How Music Got Free)
Uber had to get creative to unlock the hard side of their network, the drivers. Initially, Uber’s focus was on black car and limo services, which were licensed and relatively uncontroversial. However, a seismic shift occurred when rival app Sidecar innovated in recruiting unlicensed, normal people as drivers on their platform. This was the “peer-to-peer” model that created millions of new rideshare drivers, and was quickly copied and popularized by Lyft and then Uber. Jahan Khanna, cofounder/chief technology officer of Sidecar, spoke of its origin: It was obvious that letting anyone sign up to be a driver would be a big deal. With more drivers, rides would get cheaper and the wait times would get shorter. This came up in many brainstorms at Sidecar, but the question was always, what was the regulatory framework that allows this to operate? What were the prior examples that weren’t immediately shut down? After doing a ton of research, we came onto a model that had been active for years in San Francisco run by someone named Lynn Breedlove called Homobiles that answered our question.22 It’s a surprising fact, but the earliest version of the rideshare idea came not from an investor-backed startup, but rather from a nonprofit called Homobiles, run by a prominent member of the LGBTQ community in the Bay Area named Lynn Breedlove. The service was aimed at protecting and serving the LGBTQ community while providing them transportation—to conferences, bars and entertainment, and also to get health care—while emphasizing safety and community. Homobiles had built its own niche, and had figured out the basics: Breedlove had recruited, over time, 100 volunteer drivers, who would respond to text messages. Money would be exchanged, but in the form of donations, so that drivers could be compensated for their time. The company had operated for several years, starting in 2010—several years before Uber X—and provided the template for what would become a $100 billion+ gross revenue industry. Sidecar learned from Homobiles, implementing their offering nearly verbatim, albeit in digital form: donations based, where the rider and driver would sit together in the front, like a friend giving you a ride. With that, the rideshare market was kicked off.
Andrew Chen (The Cold Start Problem: How to Start and Scale Network Effects)
The idea was for the government to invest $100 million to create ten new venture capital funds. Each fund had to be represented by three parties: Israeli venture capitalists in training, a foreign venture capital firm, and an Israeli investment company or bank. There was also one Yozma fund of $20 million that would invest directly in technology companies. The Yozma program initially offered an almost one-and-a-half-to-one match. If the Israeli partners could raise $12 million to invest in new Israeli technologies, the government would give the fund $8 million. There was a line around the corner. So the government raised the bar. It required VC firms to raise $16 million in order to get the government’s $8 million. The real allure for foreign VCs, however, was the potential upside built into this program. The government would retain a 40 percent equity stake in the new fund but would offer the partners the option to cheaply buy out that equity stake—plus annual interest—after five years, if the fund was successful. This meant that while the government shared the risk, it offered investors all of the reward. From an investor’s perspective, it was an unusually good deal.
Dan Senor (Start-up Nation: The Story of Israel's Economic Miracle)
To make these loops actionable for product teams, you can break them down into more granular steps, and A/B test them. For example, Uber’s viral loop for drivers involved a referral program that was exposed during the onboarding process. There were a dozen or so screens on the app that a driver moved through during the sign-up process—entering their phone number creating a password, uploading their driver’s license, etc. Each of these steps could be optimized so that more users would pass through. Then, drivers would be presented with an explanation on how to refer their friends, and what type of bonus they’d get for doing so. This could be improved as well—should the message offer $100 to sign up, or $300? If you invite five people should you get a bonus? Should an invite mention the name of the inviter, or just focus on Uber, as an app? On the sign-up page, should you ask for a driver’s email or their phone number, or both? A product team can brainstorm hundreds of these ideas and systematically try them, measuring for conversion rates and the number of invites sent. Optimizing each of these steps with A/B tests might only boost each step’s conversion by 5 percent here or 10 percent there, but it’s a compounding effect. Hundreds of A/B tests later, the millions of dollars you might be spending on acquiring customers is made substantially more efficient.
Andrew Chen (The Cold Start Problem: How to Start and Scale Network Effects)
sales, a prospect believes 50 percent of what you say as a salesperson but believes 100 percent of what they say themselves. So if we can be conscious enough to ask the right question for our prospects to sell themselves on why they need your offer, you’ll start closing more deals. Most importantly, your prospect won’t feel they are being sold at all. They will have made the decision to do this all on their own. That right there is influence. Remember, you’re not a product pusher, but a problem solver. Your job is to help someone help themselves. We don’t force people to buy. We help people make decisions that can further their goals.
Chad Aleo (The Book on High Ticket Sales: The Ultimate Guide to Making Millions Through Remote Selling)
Susie, most people like the fact that they get a one-on-one coach; others like the fact they get to follow an online step-by-step course. What do you like best about the program?” Do you see what I did there? I laid out two positive answers for the prospect to choose from. This kind of questions allows me to get a positive response back about what they liked about the program. Ninety-five percent of the time your prospect will say one of the two things you list to start. We need to keep energy high here and make sure people are thinking positively about the offer. Next, once you have asked the choice of two positives, the next part of the process is to then ask a “tiedown.” A tiedown is to solidify the response of what they liked best about the offer. For example, if they responded, “Chad, I loved the coaching.” Instead of moving on and saying something like “Great, it’s super helpful” or some BS like that, let’s actually take the time to ask why they like the coaching so much or ask why the coaching program stands out to them. This allows them to tell you exactly why they like your product, but instead of hearing from you as the rep about why it’s so great, it’s important for them to tell themselves. We talked about this earlier in the book, but people believe 50 percent of what a salesperson says and 100 percent of what they say, so make sure to get them talking about the product in a positive way. So once we complete the tie-down, the next step is to then validate that they would be a great fit for the offer you are selling. Everyone needs validation to make a leap of faith to go after their goals, so tell them, “Gosh, Susie! I think you would be a great fit for our program no doubt.
Chad Aleo (The Book on High Ticket Sales: The Ultimate Guide to Making Millions Through Remote Selling)
let’s say you bought 100 shares back in that original public offering, for $1,650. Since then, we’ve had nine two-for-one stock splits, so you would have 51,200 shares today. Within the last year, it’s traded at right under $60 a share. So your investment would have been worth right around $3 million at that price.
Sam Walton (Sam Walton: Made In America)
According to an esoteric explanation, the Sanskrit term mantra signifies “that which protects (trāna) the mind (manas). Specifically, mantra is a sound (letter, syllable, word, or phrase) that is charged with transformative power, such as the letter a, the sacred syllable om, the word hamsa, or the phrase om mani padme hūm. Thus a mantra could be explained as a potentized sound by which specific effects in consciousness can be produced. Most high-minded practitioners are reluctant to use mantras for anything other than the greatest human goal (purusha-artha, written purushārtha), which is liberation. In Tantric rituals, mantras are used to purify the altar, one’s seat, implements such as vessels and offering spoons, or the offerings themselves (e.g., flowers, water, food), or to invoke deities, protectors, and so on. Yet, the science of sacred sound (mantra-shāstra) has since ancient times been widely put to secular use as well. In this case, mantras assume the character of magical spells rather than sacred vibrations in the service of self-transformation and self-transcendence. The serpent energy hidden in the body is associated with the Sanskrit alphabet constituted of fifty basic letters, or sound vibrations, which go into the making of mantras. In contrast to ordinary words, however, mantras most often do not have a particular meaning, and their potency is tapped into through frequent repetition, whether mentally, whispered, or aloud. It is not commonly understood that for a sound to be a mantra, it must have been given in the context of initiation (dīkshā), whether formally or informally. Only then does the mantra have truly transformative power. For a mantra to become “active” or “awakened,” it must be recited at least 100,000 times. A mantra lacking in “consciousness” is just like any other sound. As the Kula-Arnava-Tantra (15.61–64) states: Mantras without consciousness are said to be mere letters. They yield no result even after a trillion recitations. The state that manifests promptly when the mantra is recited [with “consciousness”], that result is not [to be gained] from a hundred, a thousand, a hundred thousand, or ten million recitations. O Kuleshvarī, the knots at the heart and throat are pierced, all the limbs are invigorated, tears of joy, gooseflesh, bodily ecstasy, and tremulous speech suddenly occur for sure . . . . . . when a mantra endowed with consciousness is uttered even once. Where such signs are seen, that [mantra] is said to be according to tradition. Mantras of concentrated potency are known as “seed syllables” (bīja). Om is the original seed syllable, the source of all others. The Mantra-Yoga-Samhitā (71) calls it the “best of all mantras,” adding that all other mantras receive their power from it. Thus om is prefixed or sometimes also suffixed to numerous mantras, such as om namah shivāya
Georg Feuerstein (The Deeper Dimension of Yoga: Theory and Practice)
The Netscape offering changed that equation. Originally, Netscape planned to sell 3.5 million shares to the public at $14 each, a price that valued the company at about $500 million. Given that Netscape had posted only $17 million in sales—sales, not profits—during the previous six months, a half-billion-dollar valuation seemed highly optimistic. But not to investors looking for the next you-know-what. Netscape’s roadshows were mobbed; tech geeks who had never before bought a stock wanted to own the Navigator. One technology stock analyst said getting a session with Netscape’s management before the offering “was like getting a one-on-one with God.”3 With demand overwhelming, Netscape and Morgan Stanley, its underwriter, increased both the size and price of the offering, eventually selling 5 million shares at $28. Still, demand far outstripped supply; investors placed orders for 100 million shares, and Morgan Stanley had to decide which clients to favor with the limited number of shares it had available. “They don’t get any hotter than this,” the Journal reported the morning that Netscape opened for trading. With so much unmet demand, it was obvious that Netscape would begin trading far above the $28 offering. After struggling for hours to set a price, the Nasdaq’s market makers finally opened Netscape at $71 per share. It rose as high as $75 before settling back to end the day at $58.25. At that price the company was valued at more than $2 billion—one hundred times its trailing sales.
Alex Berenson (The Number)
The endowment would make a second serendipitous investment when Robert Noyce, a Grinnell trustee and alumnus, offered Grinnell stock in his then-private start-up, NM Electronics.22 Noyce had almost been expelled from Grinnell for stealing a pig and roasting it at a campus luau.23 He would have been expelled but for the intervention of his physics professor who felt that Noyce was the best student he’d ever taught. 24 The professor managed to persuade the school to reduce the expulsion to a one-semester suspension.25 Noyce never forgot the favor, and made the stock available to the school if it wanted it.26 Rosenfield told Noyce that the endowment would take all the stock he’d let it have.27 Grinnell’s endowment took 10 percent of the $3 million private placement (Grinnell put up $100,000, and Rosenfield and another trustee put up $100,000 each).28 Shortly thereafter the company, then renamed Intel, went public in 1971. Grinnell started selling the stake in 1974, at which time it was worth $14 million, more than half the value of the $27 million endowment. Noyce was concerned that Grinnell should have so much exposure to a single name associated with him, and cajoled Rosenfield to sell. He recalls, “Bob [Noyce] was trembling about it. He’d say, ‘I don’t want the college to lose any money on account of me.’ But I’d say, “We’ll worry about that, Bob. We’ll take the risk.”29 Noyce eventually wore Rosenfield down, however, and Grinnell fully exited the stake by 1980. On its sale, the Intel investment had generated a profit of 4,583 percent. Rosenfield told Zweig, “I wish we’d kept it. That was the biggest mistake we ever made. Selling must have cost us $50 million, maybe more.”30 Zweig didn’t have the heart to tell the then 96-year-old Rosenfield that the shares he sold would have been worth several billion dollars in 2000. Perhaps this is why Rosenfield “considers selling to be indistinguishable from error.
Allen C. Benello (Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors)
The Victims of Communism Memorial Foundation, the preeminent US-based center for detailing communist crimes, cites the figure of 100 million deaths. Numerous others agree and could be listed here. Dr. Malia aptly noted that the communist record offers the 'most colossal case of political carnage in history.
Paul Kengor (The Devil and Karl Marx: Communism's Long March of Death, Deception, and Infiltration)
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thetechflux
The electronics effort faced even greater challenges. To launch that category, David Risher tapped a Dartmouth alum named Chris Payne who had previously worked on Amazon’s DVD store. Like Miller, Payne had to plead with suppliers—in this case, Asian consumer-electronics companies like Sony, Toshiba, and Samsung. He quickly hit a wall. The Japanese electronics giants viewed Internet sellers like Amazon as sketchy discounters. They also had big-box stores like Best Buy and Circuit City whispering in their ears and asking them to take a pass on Amazon. There were middlemen distributors, like Ingram Electronics, but they offered a limited selection. Bezos deployed Doerr to talk to Howard Stringer at Sony America, but he got nowhere. So Payne had to turn to the secondary distributors—jobbers that exist in an unsanctioned, though not illegal, gray market. Randy Miller, a retail finance director who came to Amazon from Eddie Bauer, equates it to buying from the trunk of someone’s car in a dark alley. “It was not a sustainable inventory model, but if you are desperate to have particular products on your site or in your store, you do what you need to do,” he says. Buying through these murky middlemen got Payne and his fledgling electronics team part of the way toward stocking Amazon’s virtual shelves. But Bezos was unimpressed with the selection and grumpily compared it to shopping in a Russian supermarket during the years of Communist rule. It would take Amazon years to generate enough sales to sway the big Asian brands. For now, the electronics store was sparely furnished. Bezos had asked to see $100 million in electronics sales for the 1999 holiday season; Payne and his crew got about two-thirds of the way there. Amazon officially announced the new toy and electronics stores that summer, and in September, the company held a press event at the Sheraton in midtown Manhattan to promote the new categories. Someone had the idea that the tables in the conference room at the Sheraton should have piles of merchandise representing all the new categories, to reinforce the idea of broad selection. Bezos loved it, but when he walked into the room the night before the event, he threw a tantrum: he didn’t think the piles were large enough. “Do you want to hand this business to our competitors?” he barked into his cell phone at his underlings. “This is pathetic!” Harrison Miller, Chris Payne, and their colleagues fanned out that night across Manhattan to various stores, splurging on random products and stuffing them in the trunks of taxicabs. Miller spent a thousand dollars alone at a Toys “R” Us in Herald Square. Payne maxed out his personal credit card and had to call his wife in Seattle to tell her not to use the card for a few days. The piles of products were eventually large enough to satisfy Bezos, but the episode was an early warning. To satisfy customers and their own demanding boss during the upcoming holiday, Amazon executives were going to have to substitute artifice and improvisation for truly comprehensive selection.
Brad Stone (The Everything Store: Jeff Bezos and the Age of Amazon)
The biggest mistake you can make is to listen to friends, family members, loved ones, professors, business brokers, lawyers, accountants, and all the people who want to offer you advice but haven’t actually done what you are trying to do. The fastest way to succeed is to find the closest example of what you want to accomplish and model yourself after the person who achieved it.
Brandon Dawson (Nine-Figure Mindset: How to Go from Zero to Over $100 Million in Net Worth)
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