Newsflash: BusinessWeek To Excerpt Creative Capital

Some really good news to report. BusinessWeek has agreed to run a three-page feature excerpt of Creative Capital in either next week’s issue, or the issue after that. We have chosen to excerpt one of my favorite passages from the book: the story of the technology industry’s first blockbuster IPO–the 1966 offering of Digital Equipment Corp. Digital’s IPO forms the heart of Chapter 10 in the book, which is called “The First Home Run.” When Digital went public, American Research and Development’s $70,000 investment had skyrocketed in value to several hundred million dollars.

As I conclude in the book, the Digital IPO was the equivalent of a financial revolution, signaling the power of startups in the American economy. “Digital blew open the restrictions that anyone had ever applied to entrepreneurial ventures,” said James F. Morgan, a former ARD executive. “It was really mind-blowing that you could take such a small amount of seed capital and get ownership of a company that was worth more than IBM in a fairly short period of time.”

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