I wanted to be able to hand the plane back at the end of the first year – therefore protecting the downside. It was the most difficult thing to negotiate…
When I sat down with the directors at Records, I was able to say at the absolute worst we would lose six months’ worth of profits. But if it went well, we would then be able to buy a second and third plane, build another successful business and something we could be really proud of. Because I had the downside protected, they could see the logic of my decision. While they didn’t welcome it with open arms, they gave me their blessing.
… The theory is sound: trust your instincts, but protect the downside.
Henry T. Ford: The man who will use his skill and constructive imagination to see how much he can give for a dollar, instead of how little he can give for a dollar, is bound to succeed.
The pattern we should take away from this story is that there is no pattern.
The story behind Dean Kamen’s Segway scooter, and his combustive meeting with the kingpins of Apple and Amazon. Excerpt from Code Name Ginger.
Interesting to see the types of advice that Bezos and Jobs give to folks working on an innovative new product.
Dancing at my desk? Of course not!