Worthless, Impossible and Stupid

CHAPTER 10

Perceiving Extraordinary Value

Opportunities are not fruit on trees waiting to be picked.

Smart people don’t start car companies when the automotive industry is collapsing.

At the heart of the perception of extraordinary value is the entrepreneur’s contrarian belief that what other people view as worthless, impossible (or unimaginable), or stupid is potentially valuable, possible, or smart. When the world saw the automotive industry falling apart, Jay Rogers saw an opportunity for making cars in a different way; many savvy investors indeed thought the idea and timing were both way off. Fortunately for Rogers, he was capable of persuading enough investors, employees, and partners that even though the idea might have seemed absurd, Rogers ...