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Tag Archives: Money

10 Innovators Who Did More Drugs Than You Read

Stephen King

With certain writers it can be a little obvious, I’m sure right now you’re saying, “really?”, but if we take a look at the numbers its not all that surprising. King has published 50 novels and almost 200 short stories  which includes novellas, poetry, and screenplays. The publishing of his works started when he was 12 years old with a short story entitled, “Land of 1,000,000 Years Ago”. If we do the math that means completing the publication process for about 5 pieces every year; it doesn’t sound like a lot but publishing is far from a fast process. This kind of productivity can only be explained by one thing and one thing only, cocaine! King was so coked out that he acknowledged in On Writing in 2000, that he can barely recall writing Cujo.  But of course to counteract his extreme cocaine usage, King dabbled in some downers as well like Xanax and Valium.

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John C. Lily

Lily was a pioneer in the field of interspecies communication between dolphins and humans and contributed heavily to the notion that they possess a nonhuman intelligence. He created an isolation tank to test the hypothesis that if all stimuli are cut off from the brain, then the brain would go to sleep. Through experiments in the isolation tank, Lily delved into the realm of the human consciousness and all that can be achieved through a deep meditative state. In order to dive deeper into his consciousness Lily used the help of everybody’s favorite hallucinogen, LSD, relatively frequently during his experiments in the isolation tank and during his work with dolphins. But he claims to only have dropped acid (and the occasional ketamine dose) during his experiments that took place before the illegalization of those drugs; sure John, we believe you.

 

Sigmund Freud

The father of psychoanalysis and tons of other psychological concepts that are commonplace in our society, would have been a different man if it weren’t for a heavy coke habit. Freud regularly self-medicated, taking small doses of blow to manage his indigestion and depression. Freud even wrote essentially an ode to cocaine in his essay “Über Coca”, where he hoped that through this essay’s explanations, he would help the drug win a place in therapeutics with the likes of morphine and other widely used drugs at the time.

You Don’t Need Money to Make Money

Money won’t create success, the freedom to make it will.
—Nelson Mandela, former president, South Africa

 

Nothing is more irritating than hearing one of the many generalizations that permeate the business world and corrupt the minds of new entrepreneurs. You’ve heard them. You may even deal in   these false aphorisms: “Follow your passion.” “Fake it ’til you make it.” “Entrepreneurs are born, not made.” However, perhaps the most damaging to new entrepreneurs is the following: “It takes money to make money.” No statement is more wrong or misleading.

I vividly remember when, where, and from whom I first heard this phrase. I was barely in my twenties and in downtown Atlanta, meeting with an accomplished entrepreneur who owned her own graphic design studio. I don’t remember the context of our conversation, but when she said those six words I was perplexed. I was more impressed with the phrasing itself than its validity. At that point, I had started my first three companies with hardly any money at all. What she said just didn’t make sense and certainly wasn’t applicable to me.

My first company, a website for college students, didn’t require much money at all. If anything, it demanded only my time and computer programming skills. During the first few years of the business, I only spent money on web hosting and a domain name, although it certainly wasn’t necessary. Those costs were about $30 monthly. My second company, which produced a web-based content management system, had similar, nominal costs. Finally, my third company, a magazine, didn’t require money at all. I simply came up with the idea and went out to sell it before it existed. For each business, I assumed that raising money was not even an option, and I am glad that I did. Had I heard that awful phrase, I may have delayed or killed my ventures, thinking that I had to raise money. Instead, I figured it out and, most importantly, attacked my goal with the resources I had.

VC Funding of U.S. Companies Falls to Lowest Level in 3 Years

Venture-capital funding for U.S. companies fell sharply year-over-year in the second quarter, marking the lowest level of venture investment in three years.

In the second quarter, 801 U.S.-based companies raised $7.22 billion from VC firms, according to Dow Jones VentureSource, a research unit of News Corp. A year ago, 959 companies raised $8.91 billion. The level of VC investment last quarter marked the lowest level since the second quarter of 2010.

 

The number of Series A, or first-round, deals also fell, to 255 from 339 at the same time last year, according to VentureSource.

And, to round out the bad news, the median pre-money valuation for companies also fell sharply to $10 million from $14 million.

Dow Jones VentureSource cited a range of factors for the decline, including more caution for seed-stage companies, a sluggish fundraising environment for venture capitalists and less demand for consumer-focused Internet companies.

Information technology companies received the most funding in the second quarter, taking in $2.1 billion, or 29 percent of the total. Financial services and health care each took in 18 percent, according to VentureSource.

New York-based Internet retailer Fab took in the highest amount in a single funding round, getting $150 million in June to put the company’s overall valuation at more than $1 billion. That deal was led by Chinese Internet company Tencent Holdings.

The second-largest funding was to ecommerce company Acumen Brands, of Fayetteville, Ark. It raised $83 million in a deal led by General Atlantic Partners.

There is a bright spot, though, amid the bad news on funding: Exits of existing deals through initial public offerings rose. Eighteen venture-backed companies held IPOs in the second quarter, according to VentureSource. That is double the number from the first quarter.

However, merger-and-acquisition activity among venture-backed companies fell slightly. There were 84 such deals in the second quarter, compared with 87 in the first quarter. The largest acquisition in the second quarter was Google’s purchase of Waze for $1.3 billion.

Read more: http://www.entrepreneur.com/article/227484#ixzz2ZrduNTNa