Cake
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    • ...I should have taken my poker winnings at the time and invested in his company Winmark.

      Wow!! You sure should have. I looked at their financial reports and revenue didn't grow much over the last 3 years but profits really surged. I don't know what they did, don't understand their business, but impressive.

      I once saw profit genius in action: I worked for a geophysical firm that did seismic surveys. Big crews, lots of capital equipment. Downtime was horrendously expensive. When a slowdown happened in the oil industry, all seismic companies took a very big hit that broke half of them.

      But at Western Geophysical, the CEO decided to keep the crews working, collecting a vast library of seismic data. Then instead of it being the property of, say, Exxon, we sold it for less money non-exclusively. So we could sell it to Exxon for half of what they would normally pay, and in exchange they'd let us also sell it to Shell, Conoco, BP, etc. It would take two sales for us to make what we had made with one.

      The thing is we averaged selling it 12 times for most surveys and printed money. It was embarrassing how much money we made while everyone else was laying off and folding. It was genius and guts in action.

    • Thanks for the tour inside the mind of a poker player—who knew asking the same question would work on both private pilots and tournament players?😁

      You’ve definitely had some amazing life experiences through poker. Very cool indeed!

      Based on what you’ve shared, I actually think you’ll get a lot out of the Poker MBA. Depending on how motivated you are, you could knock it out over a weekend—it’s a well-paced enjoyable read.

    • genius indeed, seems like a win win win. Company makes more money, people kept their jobs in a downturn and more customers had access to important data.

      I wonder what other great examples there are of companies that turned a tough market into a better business model and opportunity. (new thread?)

    • I just remembered the best question, which is an obvious one. How did you get inspired to play cards...

      For many they say the Matt Damon / Edward Norton movie Rounders was an inspiration. I loved the movie, hard to believe it's been over 20 years - "‘Rounders’ Turns 20: What the Film Taught Us About Poker, Risk-Taking, and Life In General"

      I grew up with grandmothers on both sides of the Atlantic (NYC & France). Both loved to play card games and I always knew I had games to look forward to when travelling to visit. They taught me all their tricks. Rummy, Bridge, Tarot.

    • I wonder what other great examples there are of companies that turned a tough market into a better business model and opportunity. (new thread?)

      Agreed!!!

      If you create the conversation starter, I would definitely contribute to it.

      😁