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Sean Allen Fenn
@seanallenfenn
Phil Knight vs. the Marlboro Man Methods of Prosperity newsletter no.64. Phil Knight (cont.) There was no such thing as venture capital in 1965. US Bank had turned him down. First National Bank was hesitant. There wasn’t any equity. Blue Ribbon Sports was cash flow negative. Phil Knight’s fledgling shoe business was outgrowing its cash balance. His balance was zero. Still, he asked the bank for another letter of credit. That wasn’t his only problem. Now he had competition.
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