California Gold Rush | wealthymatters

Learning From Levi Strauss

July 31, 2017 Leave a comment

wealthymatters “Real estate players gained from IT revolution, not engineers” – Screams the ET headline and continues…………

Former Karnataka IT Secretary Vivek Kulkarni said the starting salary of an engineer in the year 2000 when he was holding the position was Rs three lakh, a figure which has remained the same even today.

“What about real estate ? Suppose you buy a real estate in JP Nagar in Bengaluru in 2000 and you want to buy now, what’s the difference?. It must have gone up eight to ten times. That means the fruits of our IT revolution has not gone to engineers, it has gone to real estate people,” he told .

But then what’s new? Different time, different place. But the basic story remains the same…..

During the California Gold Rush, Levi Strauss sold dry goods to miners. One of these items was durable trousers suited to the rough conditions in which miners worked in. This was the origin of jeans and the Levi Strauss brand.

Every time there is a Gold Rush of one or other kind, and there is always invariably one, if you are alert, there is always more than one way to make money.

Filed under Theory Tagged with California Gold Rush, Indian IT Revolution, Levi Strauss, postaday

Succeeding Without Risk

March 25, 2014 Leave a comment

The common perception is that entrepreneurs thrive on risk. The greater the risk they take, the greater their win……….Just how right is this perception ?

From 1848 to 1855, people from all over the world rushed to California with one goal in mind: To get rich. James W. Marshall had discovered gold here. People dropped everything they were doing to travel out West.

Pioneers everywhere packed up their belongings, along with their loved ones, with one goal in mind. To seek out a metal so rare, it could potentially change their future for generations to come. Some families suffered and died from diseases such as cholera and scurvy on the trip over. Others were killed by Indians or watched their lives pass them by as they froze to death in the rocky mountains.

A new movement was on the way and everyone wanted a piece of it. The dynamics of the situation were so influential and rewarding that many would risk death to be able to reshape their family fortunes. Any commoner could do something that they never had the opportunity to do before-they could potentially join ranks and become equals with the elite.