Paul van Zuydam, the 87-year-old owner of Le Creuset, just became South Africa's 8th dollar billionaire with a net worth of $1.7 billion.
In 1988, he negotiated a deal to buy the debt-ridden French cookware maker before reviewing its financials betting purely on what he saw: world-class craftsmanship and rigorous quality control.
Key lesson: This is a humbling point for those of us who are numbers and data-driven.
Sometimes you can't spot the opportunity by looking at a spreadsheet alone.
Van Zuydam identified operational excellence (25% of production gets rejected to maintain standards) and trusted his assessment of the fundamentals.
He rebuilt Le Creuset which is now. debt-free, and generating $850m+ in annual revenue.
The best opportunities sometimes reveal themselves through what the numbers can't capture quality, culture, and craftsmanship.
Elon’s Got the Trillion. To earn it, $TSLA has to hit a $12 trillion market cap, generate $2 trillion in revenue, and out-profit every industrial giant on Earth. No pressure.
In my own words I comment on the relationship between public and listed companies and limitations of disclosure meant to protecting the public. Sheila Khama - YouTube Subscribe to https://t.co/hn75qRPIyh to receive an alert on this series.
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Starship is designed to fundamentally change and enhance humanity’s ability to reach space. Its eighth flight test was a reminder of the value of putting hardware into a real-world environment as frequently as possible, while still maximizing controls for public safety, to achieve the goal of flying a reliable, fully and rapidly reusable rocket.
A technical summary of the investigation can be found here → https://t.co/IWTI4cqgtV
SpaceX demo of Starship’s ship-to-ship propellant transfer next year will likely entail twin Starship launches and booster recoveries at Starbase
Gonna be epic!
@elonmusk “Don’t leave me Murph.” 😭 Interstellar is one of my favorite movies. If ever we have to go to MARS, please let me take that journey with you.