Let’s talk about the kind of nerve only a true maverick could have. Back in 1973, Frederick W. Smith wasn’t just running FedEx; he was hanging on by a thread. FedEx was burning cash at an insane rate, hemorrhaging $1 million every month with no life raft in sight. They were $29 million in the hole, staring down bankruptcy, and it seemed like the end.
But Smith? He had other plans. Desperation breeds innovation, and in Smith’s case, that “innovation” was an all-or-nothing bet on blackjack.
Now, let’s rewind a bit. This wasn’t some wild, rookie stunt. Smith was a Vietnam vet with a knack for strategy and nerves of steel. He knew how to play the game, both in business and on the blackjack table. He took FedEx’s last $5,000, flew to Las Vegas, and laid it all on the line in the ultimate high-stakes gamble. Smith needed $24,000 just to keep the fuel flowing that week. Failure wasn’t an option.
Imagine this: You’re at the blackjack table, your company’s survival hanging on every single hand, and the clock ticking. Smith played smart, using the ‘Hi-Lo’ card counting system, taking FedEx’s last $5k and running it up to $35,000! Sure, he dropped back down to $27k, but it was enough to pay the fuel bill and buy him time to pull in more capital.
And the gamble? It paid off in spades. Fast-forward, and FedEx isn’t just surviving; it’s thriving, valued at a staggering $67 billion today. Smith’s message? Risk it all when you believe in something. Because sometimes, if you don’t go all-in, you’ll never see what’s on the other side.
FedEx now stands as one of the world’s biggest transportation giants with over 500,000 employees. It’s a legacy built on bold moves, gutsy bets, and the audacity to go for broke — literally.
So, if you’re out there grinding on your next big venture, remember: success isn’t for the faint-hearted.