Tag Archives: Entrepreneurship

John Templeton, R.I.P.

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“John Templeton was one of the greatest stock pickers of the last century.  He began his fortune in a crisis market.  The year was 1939. The Great Depression was still on, and Nazi Germany had just invaded Poland and kicked off World War II.  It was in this environment of fear and pessimism that Templeton (just a few years out of college) invested $10,000 in 104 US stocks selling for $1 or less.  Four years later, his profits would prove him right. He sold his portfolio for a 300% gain. It was the beginning of what would turn into one of the largest investment empires in the world.  In 1962 Templeton renounced his US citizenship. He became a citizen of the Bahamas, which has no income tax.”

http://www.internationalman.com/articles/doug-casey-on-a-man-who-starved-the-beast-of-100-million

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Call Them Hippies, But the Grateful Dead Were Tech Pioneers

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“The Grateful Dead remains one of the most innovative and tech-savvy bands in pop history. Long before it became necessary (or cool) to do so, the band embraced a DIY ethos in everything from manufacturing its own gear to publishing its own music to fostering a decentralized music distribution system. The Dead’s obsession with technology was almost inseparable from the band’s psychedelic ambition and artistic independence.  More genuinely progressive than most prog rock, the Grateful Dead and its legion of fans embraced a spirit of innovation that could be called entrepreneurial if the pursuit of profit didn’t so often seem secondary.”

http://www.wired.com/2015/07/grateful-dead-fare-thee-well-tech-pioneers/

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Silicon Valley meets Bob Marley

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“Men in suits swarmed everywhere, but not one spliff or bong could be seen.  PhDs and Harvard MBAs networked with investment bankers and hedge-fund managers to raise money for businesses covering every aspect of marijuana commerce, from consumer guides to insurance. Some eager punters discussed the secrets of emerging brands, such as those associated with those two legendary singers and weed experts, Willie Nelson (who announced he is launching his own brand) and Bob Marley. Others debated how to make use of hemp, a crop closely related to weed but, unlike it, indisputably legal to buy and sell, and marvelled at all the jobs being created by the new industry.”

http://www.economist.com/news/united-states/21656726-rise-cannabis-capitalism-silicon-valley-meets-bob-marley

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Bay Area Farm-To-Table And Legal Cannabis Movements Come Together

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“Drawing inspiration from the farmer’s market model, Flow Kana partners with organic, sun-grown cannabis growers. Their platform enables users with medical marijuana cards to select desired strains and have 1/8 oz. of ‘connoisseur grade’ marijuana delivered within thirty minutes for approximately $50. This model not only eliminates middlemen dispensaries, but also flips the economics of the industry. Farmers that were once at the mercy of dispensary rates can engage in a direct-trade business model similar to that of the direct-trade coffee movement.  It plans to deploy the platform to the rest of the Bay Area and to all major, California cities by the end of 2015.”

http://www.forbes.com/sites/kimberlygomes/2015/06/05/in-the-bay-area-the-farm-to-table-and-legal-cannabis-movements-come-together/print/

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Student changes name by deed poll to avoid £220 Ryanair admin fee

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“A student has changed his name by deed poll because it was cheaper than paying a ‘ridiculous’ Ryanair charge for a booking error.  Adam Armstrong, 19, was presented with a £220 administration fee after his girlfriend’s stepfather mistakenly reserved a seat to Ibiza for him with the budget airline under the surname of West. Armstrong, who is studying for a foundation degree in digital marketing at Leeds City College, changed his name to West for free and drove to Liverpool to rush through a new passport for £103.  Several airlines charge more than £100 to make minor changes to bookings as highlighted by the Guardian in the past.”

http://www.theguardian.com/money/2015/jun/05/student-changes-name-by-deed-poll-to-avoid-220-ryanair-admin-fee

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In a World of Tax Hells, a New Haven Emerges

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“I don’t blame you if you’re skeptical. I was too, until I spoke with Vit Jedlicka, the founder and president of Liberland. It’s a slice of land on the edge of Serbia, Croatia, and the Danube River. Neither country has ever claimed it due to a border quirk. Under international law, that opened up the opportunity for Liberland.  Surprisingly, the reactions of Croatia and Serbia have been cordial instead of resistant.  Vit is in the process of securing diplomatic recognition.  More than 300,000 have applied for citizenship.  Serious investors have indicated they’d immediately put tens of millions of dollars into the new country. Liberland has real momentum. Soon it could reach a tipping point.”

http://www.internationalman.com/articles/in-a-world-of-tax-hells-a-new-haven-emerges

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The Government Tells Ross Ulbricht He Owes It $183,961,921

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“In a memo on Thursday, government prosecutors imposed a money judgement against the Ulbricht equal to $183,961,921. They came to that number based on the transactional records from Silk Road showing the amount of illegal drug sales as $182,960,285 combined with the transactions for fake identification equal to $1,001,636.  The government contends Ulbricht is liable for all transactions on Silk Road because of the structure of the site. Ulbricht will be required to pay the full amount of money, which is likely not dischargeable in bankruptcy.”

http://motherboard.vice.com/read/the-government-tells-ross-ulbricht-he-owes-them-183961921

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Jeffrey Tucker: The Deeply Tragic Life Sentencing of Ross Ulbricht

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“If you are a tenured professor performing artificial trading experiments in a classroom and publishing your results in expensive journals, you are toasted as a genius and sometimes given prestigious prizes. If you innovate with venture capital funding and the backing of large tech firms, you are rewarded with riches and fame. But if you are a quiet geek who creates a more realistic experiment online, one that actually benefits humanity, and never sought funding from any establishment source, you are swept up in a sting operation and imprisoned for life.  As for the online markets themselves, the jailing of Ross does nothing to stop them. They are now larger than ever.”

https://tucker.liberty.me/the-deeply-tragic-jailing-of-ross-ulbricht/

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Financier amasses $1 billion in mining investments, plans hedge fund

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“U.S. mining financier Oskar Lewnowski has already deployed almost $1 billion in equity, loans and royalty streams into at least 17 junior mining firms, and hired a physical metals trader to handle supply.  The fund would also stand out as one of the few commodity fund launches in recent years after plunging oil, copper and grain prices forced the closure of some big names, including Hermes, Brevan Howard and Hall Commodities, last year.  Merchants are expanding to fill the gap left by the retreat of European and U.S. banks, which have retrenched from physical trading amid regulatory glare and tight margins.  Bank revenues from base and precious metals fell for a third straight year in 2014.”

http://www.reuters.com/article/2015/05/22/metals-fund-lewnowski-idUSL1N0Y21I420150522

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The worst place in the world to start a business

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“As a thanks for conducting commerce in their state – commerce that my clients said they would have been bankrupt without – I was subjected to years of hounding by the California Franchise Tax Board.  Even after I paid their $800 annual extortion fee for running a corporation there.  I’ve long said there is no – repeat no – reason for doing business in California. It is, without a doubt, the worst place in the world to start a business.  They’ll tax you endlessly and mercilessly. They’ll subject you to nonsense regulations. They’ll send some inefficient buffoon to your office to inspect everything you’re doing and harass you. Hiring people there is a disaster.”

http://nomadcapitalist.com/2014/01/29/the-worst-place-in-the-world-to-start-a-business/

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