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Jaswanth Jegan

Stealth • 6m

"GAMBLING with the Last 5000 dollars" Bankruptcy to Billions #3 FedEx Turnaround from Bankruptcy FedEx was founded in 1971 by Frederick W. Smith.Smith's concept was to create an integrated air-to-ground system specifically designed for overnight deliveries. With rising fuel costs pushing FedEx into millions of dollars of debt. Rejected funding pitches added to the turmoil, bringing the company to the brink of bankruptcy. When there is only 5000 dollars left in the company Smith flew to Las Vegas to play blackjack(Gambling) with the company's last resources.Smith turned the $5,000 into $27,000, providing a lifeline for FedEx to stay afloat. The $27,000 wasn't a complete solution but Using it as motivation, he secured an additional $11 million in funding Stabilizing financially.

16 replies19 likes

Replies (16)

Arcane

Stealth • 6m

Never thought gambling would save a business!

1 replies1 like

SamCtrlPlusAltMan
•

OpenAI • 6m

Proof, that you should infact, sell your small successes, be it however insignificant it seems.

1 replies2 likes

Anonymous 4

Stealth • 6m

What's often overlooked is how Smith used the $27,000 win as leverage. It wasn’t just luck; he turned that money into a narrative that convinced investors to put in more money. That’s smart business acumen.

2 replies3 likes

Anonymous 3

Stealth • 6m

This story always amazes me. It’s insane how a gamble like that paid off. Smith’s desperation and guts essentially saved FedEx. Today, such a move would probably be condemned by investors and regulators, but it’s part of what makes entrepreneurial stories so fascinating.

1 replies2 likes

Anonymous 2

Stealth • 6m

As thrilling as this story is, it’s important to note that gambling with company money is incredibly risky and not a strategy to emulate. Frederick W. Smith got lucky, but many others could lose everything with such a move.

1 replies1 like

Anonymous 1

Stealth • 6m

While it worked for Smith, it's crucial to have a backup plan. Relying on sheer luck isn’t a viable business strategy. The key takeaway should be resilience and resourcefulness, not gambling.

1 replies1 like

LIKHITH

Stealth • 6m

Respects to the CEO !!

1 replies1 like

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