List of African-American inventors and scientists

Jul 2014
12,417
7,473
massachusetts
#12
It's quite a story, an agent of the patent office went to his rooming house in Lynn Massachusetts, to tell him they couldn't figure out how the device in his drawing could possibly work, he took the guy into the basement, where he had a working model, and he lasted a sole to show him that it did work.
When he raised money to fund the idea, the money got 90%, he got 10%, the company went bankrupt.
The company got refinanced, the new money got 90%, the old group got 10% (his share was down to 1%), they failed.
They got another round of financing, new money gets 90%, he's down to 1/10th of one percent.
That company becomes The United Shoe Machine Company, first company with a billion dollar market cap in Massachusetts.
He gets a dividend check for $30, right before he dies.His stock goes to the church he belonged to, eventually it''s worth millions.
 
Sep 2018
4,251
759
cleveland ohio
#13
It's quite a story, an agent of the patent office went to his rooming house in Lynn Massachusetts, to tell him they couldn't figure out how the device in his drawing could possibly work, he took the guy into the basement, where he had a working model, and he lasted a sole to show him that it did work.
When he raised money to fund the idea, the money got 90%, he got 10%, the company went bankrupt.
The company got refinanced, the new money got 90%, the old group got 10% (his share was down to 1%), they failed.
They got another round of financing, new money gets 90%, he's down to 1/10th of one percent.
That company becomes The United Shoe Machine Company, first company with a billion dollar market cap in Massachusetts.
He gets a dividend check for $30, right before he dies.His stock goes to the church he belonged to, eventually it''s worth millions.
didnt tesla end up the sam way? there are really stupid people that are business savy and really smart people that fail at business truman was one of our best presidents and every business he started wast he a hat seller? haberdassher? failed miserably there is street smart there is book smart
 
Jul 2014
12,417
7,473
massachusetts
#14
didnt tesla end up the sam way? there are really stupid people that are business savy and really smart people that fail at business truman was one of our best presidents and every business he started wast he a hat seller? haberdassher? failed miserably there is street smart there is book smart
There weren't venture capitalists then, for a guy with an idea and not much else, 10% is a big number.