Premium Only Content

How Fedex boss saved his company in 1970's
Within just a few years of starting FedEx, Fred Smith faced a critical moment that would determine the future of his company. What began as a bold idea written in a college term paper had quickly grown into a real business, but by the mid-1970s, FedEx was on the brink of collapse.
By 1974, the situation was dire. FedEx had just $5,000 left in its bank account, and Smith's efforts to secure more funding were repeatedly rejected.
Bankruptcy seemed almost inevitable. However, Smith wasn't ready to give up.
On a fateful trip back from a failed pitch to General Dynamics, Smith made an impulsive decision that would change everything. He detoured to Las Vegas and took the last $5,000 of the company's funds to the blackjack tables.
Smith won $27,000 – enough to keep FedEx afloat for a little longer. “The $27,000 wasn't decisive, but it was an omen that things would get better,” Smith later said about the gamble.
This unexpected win gave him enough breathing room to raise another $11 million in funding. With this new capital, FedEx weathered the storm and went public in 1976
-
29:12
Producer Michael
18 hours agoTOURING A $13,750,000 LAS VEGAS MEGA MANSION WITH SPECTACULAR VIEWS OF THE STRIP!
11K6 -
1:37:10
Nick Freitas
15 hours agoWhat We've Learned Through 26 Years of Marriage
4.37K1 -
LIVE
BEK TV
22 hours agoTrent Loos in the Morning 6/4/2025
175 watching -
24:56
Brandon Lutnick
5 days agoBitcoin 2025: Brandon Lutnick and Paolo Ardoino fireside chat
17.8K4 -
9:12
SKAP ATTACK
16 hours ago $1.48 earnedFlopping, Foul Baiting & Lack of Physicality has RUINED the NBA
17.1K3 -
24:46
JasminLaine
16 hours agoDanielle Smith DROPS THE HAMMER—“If Government Has to Step In—We FAILED!”
12.4K17 -
1:02:37
State of the Second Podcast
16 hours agoTraveling Armed in America: Why is it so Complicated? (ft. Elite Tactical Systems)
12.4K5 -
LIVE
NEWSMAX
5 months agoNEWSMAX2 LIVE | Real News for Real People
2,116 watching -
13:05
Actual Justice Warrior
3 days agoJudge Threatens To Jail Corrupt Super Mayor
32K31 -
3:40
DecoyVoice
1 year agoThailand doesn't have time for unemployed behavior
46.5K30