I missed it!
In the late 1960’s I joined the Vollrath Company. They were using computers to help manage the business. One of the owning family members had attended MIT and came away with the conviction that managing information on a timely basis was the “future”. Vollrath had large main frame computers and an “army” of systems analysts and programmers. There were no software packages that you buy off the shelf. Everything had to be built from scratch. Every employee was involved in data collection including production people.
During a luncheon conversation one day, the managing family member offered the vision that when computers became cheap enough and every person could own one, American business would unleash tremendous potential. People would be able to get better information faster and they could develop “just in time” decision models. You would harness the power of the human mind.
The opportunity “right before my eyes” was that I could have made every effort to capitalize on the “information revolution”. I should have bought IBM in the 1960’s. I should have mortgaged the house when Yahoo first started. I should have bought into Microsoft which revolutionized software with a standard platform. I should have, I should have, I should have.
But I didn’t. Instead I plodded along with my 401K plans that were diversified and an IRA. I did not invest using my knowledge of the future. I had a gut feeling computing power would become so cheap that it would revolutionize all business models, but I failed to act.
I could have been rich. Sh–!
The lesson Grasshoppers is that you will see many things pass before your eyes. It is difficult to always grasp opportunity when it is there. You can’t lament about what you missed. Hey, I am rich in other ways. Cottages, boats, kids, and Grandkids. Opportunity comes in many forms. If you happen to grab onto the “magic of an idea”, good for you. If you don’t, join the crowd. For me, it was there right before my eyes.
Love,
Dad