![]() The paper was written for an economics class and was specifically on an “overnight delivery service in a computer information age”. Smith had first outlined how such a company would operate in a 1962 paper he wrote while at Yale University. This is something that, at that time, had never been done. In 1971, Smith took his personal fortune of around $4 million and raised around an additional $90 million to found a delivery company structured such that it could potentially deliver packages overnight to anywhere in the world. Smith who is the founder and current CEO of FedEx. Today I found out the founder of FedEx once saved the company by taking its last $5,000 and turning it into $32,000 by gambling in Las Vegas.
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