Feb

28

When Etrade was starting out, they had no market to test their infrastructure and no money for the test. My firm loaned them 400,000 to start their business and arranged for the comex to test their products in exchange for 40% of their business. About 7 years later they paid back the 400,000. They recently sold their business putative for 13 billion. Business people should learn from this example–especially mistakes made.

Peter Pinkhasov writes: 

I guess the bias in woulda shoulda coulda is asking is if E-Trade would have become a 14 billion company if that 40% was not bought back by the company.


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