Please note:This audiobook has been generated using AI Voice. This is a companion version & not the original book.
Sample Book Insights:
#1 The final liquidation sale of Circuit City, led by a consortium of investors including Mexican billionaire Carlos Slim, was a complete failure. Only about 50 people showed up to shop, and most of them were technology bloggers.
#2 When most people think about wealth secrets, they probably think about some sort of business venture. The fall of Circuit City and another famous failure, the hedge fund Long-Term Capital Management, illustrate the importance of business, when practiced without any wealth secrets.
#3 The company that became Circuit City was founded as Wards by Sam Wurtzel. Wurtzel was ambitious, clever, and had married well. He was also something of a budding Napoleon of retail. He longed to conquer territory, and he wanted to keep his empire all in the family.
#4 Wurtzel wanted to expand his empire, and in 1969 he bought a chain that sold hardware and housewares. The chain was profitable, but Wurtzel overextended himself and lost money on his other acquisitions.