“Friends from 2000 to 2018. Bill. Gates. Has been the worlds richest man.
For 13 13 years. Out of 19 years. And even in remaining 6. Years.
Bill gates has under top 3 richest man. You can say bill gates. As one of the richest man of 21st century. Bill gates.
One of the favourite book. Is business adventure business adventure. Book was gifted to him by warren buffet in business adventure. Book.
Author. Shares. Some very interesting and useful business case studies as per. Me every individual who is interested in business should learn it.
George santayana says those who don t. Remember the past are condemned to repeat. It means people who don t understand history are the ones who repeat the same mistake again and again without learning from others. However bill gates never wanted to become such person.
And he knew the importance of history at least in business field. Therefore business adventure is his one of the favourite book hence. It is important for us to understand history and just like bill gates. We should learn from past century business lessons and should become successful today in this video.
I will share 5 case studies out of 12 case studies so let s begin no1 falling sky from the start of 28th may 1964 to three consecutive days stock market has experienced bizarre flash crash where market has faced 20 billion loss such huge stock market history started with a very small thing actual reason for such a huge loss was that trading office was updating stock price manually. But because of manual update. There was a delay of 45 minutes. The moment big investors realised that there was no update on stock price hence.
They assumed that price must be falling. Therefore they are not updating coz of such assumption they started selling their shares the moment. Big investors started selling their shares price of shares actually started falling looking at it. Almost everyone started selling their shares.
Because of which chain reaction started and in just 3 consecutive days market has seen 20 billion loss on the other side people had a common knowledge that index and dow can never be less than 500 the moment index reach near to 500 point. Then people crazily started buying stocks again as a result. Buying panic started and the loss. Which market has seen in 3 days.
All was recovered in just one day now this entire incident shows that we humans. Many a times. Because of our stupid fear takes wrong decisions. Most of the time people just assume that things are worst.
Without knowing the actual fact well this fear was good earlier for survivor. But it is not that important in this era. Hence. The first lesson is never be afraid without knowing the proper facts in how to stop worrying and start living summary.
I have shared that 97 percent times things about which we get worried are mostly don t exist in. Reality and if it exist then not at the. Level we assume no2 ford edsel in 1950 ford wanted to make edsel a flagship product on which they had lot of hope because they did lot of research. They invested lot of time and almost 350 million.
But when that car get launched in reality. People named that car as one of the ugliest car of all time. And that car got failed. This was its time biggest failure and this failure happened for three reasons.
First reason in 1955 america s economy was increasing people had extra money which they can use for their comfort. Hence. At that time people were interested in medium range cars by seeing it ford decided to launch edsel. But from 1958.
Onwards in just three years. Everything was changed market wasn t performing that good and people were more interested in cheaper range cars compare to medium range cars. No2. Reason.
There was high expectations related to edsel expectation was so high that it almost became unrealistic because of which when final result was launched people didn t like it at all third reason. It wasn t that good quality wise. It had a problem in its break and acceleration means they invested a lot in research. But fail to invest in quality three things which we should learn from these reasons and story.
First never think that things will be the way. We wanted it won t remain same always hence unpredictability will always be a big thing in a market. Same thing is taught to us by the lean startup book second. We should always keep our expectations in check.
Shouldn t have unrealistic expectations should be realistic third should give more efforts to quality compare to research. Which is taught to us by many business books third case piggly wiggly piggly wiggly was us supermarket company. Which was first to introduce self service concept in market. And also patent it in fact.
It was the first supermarket. Which introduced shopping carts and imposed price tags in every items and also kept checkout stands till. 1920. Piggly wiggly was growing very fast in the entire us.
But there were some franchise which were getting failed in new york. Now seeing such failure wall street. Few investors tried to take advantage from that situation by creating a bare raid. Bare raid is something where investors invest in the falling stock price to earn money they try that anyhow that companies stock price fall further and to make it fall further.
Few investors claimed that piggly wiggly is falling because its new york franchise isn t working. Which wasn t true now by looking at it the founder of piggly wiggly clarence saunders got very angry he decided to teach them a lesson therefore he bought his companies 98 percent shares. Because of which his stock price value increased from 39 dollars to 124 dollars through. Which those bare raider s faced losses and they were bankrupt.
This is what clarence assumed but in reality. What happend those bare raiders. Convinced nyse to give them some extensions for their payment on the other side for so much investment saunders by himself faced a huge debt. He faced a huge loss after which he declared bankruptcy.
His company. Piggly wiggly. Today is an unknown franchise known by very few if he would have controlled his emotions or if he would have high influence on stock market exchange. Then it is assume that today piggly wiggly would be as same as walmart hence.
Lesson 3rd hence. It is best to avoid or else become so influencing and powerful that people don t even think of fighting with you fourth case xerox rollercoaster. We can see xerox story in three stages first when it was developed and launched earlier. There was a time when people used to use mimeograph machine to remove photocopy.
Which was neither easy or cheap. For it people used to use big paper and sensitive heat paper to remove photocopy not even this wet paper used to come out from that machine. But in 1938 in the process of xerography chester carlson and his assistant removed photocopy in standard office paper. Then he developed that technology more properly with the help of one university and invested 75 million dollars.
And almost 13 years and when in 1958. He join hands with xerox company to launched his product. Even then he wasn t sure whether it will work or not in fact xerox. Founders told their families and friends not to invest in xerox shares.
But result shocked everyone xerox company in just 6 years increased their revenue to 500 million every year in america billions of people were removing photocopies using xerox machine. Because of which xerox became america s one of the biggest and successful company now. The second stage was when xerox maintained its success. And did many donations example.
The university. Which helped xerox to develop the technology for it xerox became the second largest donator and to support un xerox run 4 million campaign. Now third stage was when xerox success started falling after 1965. Many competitors started doing same thing like xerox that too cheaper than xerox and xerox failed to do something new and different fail to hold customers now important lessons.
Which you can learn from these stages. Are remember that your life and business journey will be a roller coaster where many ups and downs will come. But if you develop something useful by putting efforts and time then for sure you ll be successful and people will remember you example even today in many. Places people say xerox to a photocopy.
No5 tax system. Warren buffet is world s one of the richest man. But he says that his tax rate is less than his secretary means. His secretary who earns very less than warren buffet pays more tax compare to him well.
This is the harsh truth of tax system. Let s understand it with america s example in america government start taking income tax from 1913 because they were in need of money while starting it their main aim was to take money from their country s rich people that too less amount. But today. Things have changed tax rates are increasing because of money.
Greediness earlier rich people were target of tax. But today middle class people have become the main target because rich people have become smart. They found out many loop holes in tax system to save their money whereas middle class people just do hard work to give big amount as a tax to government this has become a cruel system. Where mostly middle class people are suffering.
Now. There can be two solution for this problem. First to change tax system by developing or adopting better tax system. Which is truly very difficult thing to do and the second solution is to start thinking like a rich people should take advantage of system loop holes.
And how you can do it. That you can learn from robert kiyosaki book rich dad poor dad. If you want rich dad poor. Dad or business adventure book free audio book then you can take it from seekenorg audiblecom.
Audible is an amazon company which gives ones month free trial only then they charge that s all for today share this video with all those people who are interested in business like if you find these knowledge useful comment. Some positive things do subscribe i upload such book summaries every sunday. Do click the bell icon so that you get notifications for each video and do not miss it ” ..
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“TOP 5 CASE STUDIES from BILL GATES favourite book SeeKen nbusiness adventure book summary in hindi nnGET 2 FREE AUDIOBOOKS = https://www.seeken.org/audible (affiliate)nnBUY THE BOOK FROM HERE : https://goo.gl/cTyd4YnnBUY ANYTHING FROM AMAZON : https://amzn.to/2QBayUpn(AFFILIATE)nnnnBOOK RECOMMENDATIONS PLAYLIST: https://www.youtube.com/playlist?list…n nCONNECT TO GET KNOWLEDGE FROM SOME OF THE BEST MENTORS, BOOKS SUBSCRIBE nhttps://www.youtube.com/channel/UCfhb…nnTO KNOW MORE ABOUT SEEKEN LIKE THE FACEBOOK PAGE https://www.facebook.com/seekeners/nnFOLLOW ON TWITTER https://twitter.com/Seeken7nnCONNECT ON INSTAGRAM https://www.instagram.com/seeken101/nnVIDEO SOFTWARE I USE – http://www.sparkol.com?aid=1580825nnREASON OF MY CLEAR VOICE (MIC) – https://goo.gl/egnkeunntoday i am sharing with you summary of a book which is bill gates one of the favorite business book. the book which was given to him as a gift from warren buffet. the book which covers 12 big case studies from the past century. hence in this video i will share my top 5 case studies from this same book which arenn1) NYSE flash crash n2) FORD S EDSEN n3) PIGGLY WIGGLYn4) XEROX ROLLERCOASTER n5) TAX SYSTEM”,
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