<...> FedEx currently distributes about 1.2 billion parcels a year in 220 countries with an annual revenue of about 3 billion. Smith, founder of FedEx, started his business with 84 million us dollar. At that time he started operations in 35 countries with 8 planes. But at one stage, the price of plane fuel increased and that contemporary time courier service did not become very popular. His company is on the verge of bankruptcy. Smith come back to Las Vegas feeling sad. At that time Las Vegas was known as the capital of casinos. He had only $5,000 when he entered a casino with a depressed mind. His destiny was revealed. He earned about $27,000 with in a week. Smith come back to FedEx headquarter and invest his money on his company even though his money was not enough to run the company but with his hard work and enthusiasm he arranged to send all the parcels. in this way he established his company.
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Nice story,I didn't know this one.There are very few persons on earth compared to the earth population which in percentage is less than 0.0000001% that have experienced a life changing event by going to a casino.
The story sucks to be honest. First of all because of the percentage you mention, but is there that much difference between $5,000 and $27,000? If he had said that $5,000 got him $500,000, it would seem to me to be a considerable difference.
And besides, it was the only way he could get that $22,000 difference? I don't know, maybe taking a loan to invest in his company would have made more sense.
One thing you have to realize that $5000 at the time of 1972-1973 is comparatively much higher according to this stage . At that time he received total $27000 thousand, that can be really appreciable. This amount is not really high but the advantage he got is a big deal. Moreover, another thing that I have said that he took the help of inherited assets and Loan when he started his organization.