Great entrepeneur Sam Wyly autobiography commented
Sam Wyly is amongst the great entrepreneurs that made a fortune in the last century. Now, I didn’t have the chance to interview him, but I got to read his book “1,000 Dollars & an Idea”.
Did you know that Sam Wyly was amongst the first to fight IBM during their supremacy years in the ‘60 when a computer was costing around $ 3 million? Did you know that Sam Wyly fought the big AT&T monopoly when you couldn’t even buy a different headset and lost 100 million to it? Did you know that he owned the Bonanza food chain and grow it from 20 restaurants to more than 600? Did you know that Sam started a company called Sterling Software with an initial investment of 2 million to sell it later for… 8 billions! Just before the dot com crash.
In the early 1970s, in the midst of the Nixon wage and price controls, Wyly built University Computing into a goliath that split into four separate companies, including Datran, which would later challenge the AT&T data transmission monopoly. During the gas crisis of the late 1970s, Sam’s oil-refining and silver mining company Earth Resources actually took advantage of the call to de-lead gasoline by selling the refinement run-off for jet fuel. During the recession of the late 1980s and early 1990s, Sam built arts & crafts retailer Michaels from six stores to over 900. In the current economic downturn, Sam’s latest ventures are all proving successful. From Green Mountain Energy, the nation’s leading provider of cleaner energy, to investment funds Ranger Capital and Maverick Capital, Sam’s still on the leading edge of the market.
Interesting isn’t it. Here is the rest of the book review.