Did You Read It: The First Home Run

Did You Read It takes on chapter ten of Creative Capital, by Spencer Ante: the Digital Equipment IPO. Question one: ARD's price for seventy percent of Digital in 1957? Gary: seven million. Marcie: $70,000, chapter ten; Doriot called his companies his children. Question two: Digital goes public in 1966, ARD's stake? Gary: a million. Marcie: $38.5 million at $22 a share, five hundred times the money in nine years, and nearly $200 million a year on. The first home run. Bonus: patience; ARD refused every buyer, including $1 million of Itek stock in 1958, and waited.

The strongest case in Creative Capital is chapter ten, the Digital Equipment IPO: ARD paid $70,000 in 1957 for 70 percent of a company founded by two MIT engineers, refused every buyer including Itek's $1 million of stock in 1958, and on August 19, 1966 Lehman Brothers took Digital public at $22 a share, valuing ARD's 65 percent stake at $38.5 million, five hundred times the money, and nearly $200 million a year later; the book calls it the venture industry's first home run, won by patience.

On the book: Creative Capital by Spencer E. Ante

Starring

🎙️Announcer LouRex FontaineMarcieGary