The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 11 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
An entrepreneur's most important job is downside self-protection
“I think the most important job for every entrepreneur is learning how to protect yourself. So if things don't work out as planned, they take longer than plan. They go sideways. You can adjust and you can bounce right back.”
Big company partnerships don't improve startups; they expose flaws faster
“When dealing with big partners, if you're a small company, and your goal is to go get a big partner out there, big companies don't make you better. They expose your flaws faster.”
Scott Duffy's Smart Charter closed a deal with Virgin Group
“I had a business, it was called Smart Charter, and it was like Expedia for private jets, and we were looking for investors, we were looking for distribution, and we ended up doing a deal with Virgin.”
Scott Duffy received a $450,000 salary in the Virgin acquisition
“Oh, I was, it was like a 450,000 dollar deal.”
Scott Duffy chose 20% equity over cash in the Virgin deal
“The way that smart charter work is instead of taking money out, I decided to go all in and just had to take more equity. So when we did the deal, so I had, you know, there, there's some things I can't say because of confidentiality, but I had a good chunk, you…”
A $10 oil increase cost commercial aviation $1 billion in 2008
“Every 10 dollar increase in a barrel of oil at that time represented about a one billion dollar increase in fuel prices for the commercial aviation.”
Wheels Up is closest to achieving Smart Charter's original vision
“The, probably the company that is making the best strides towards what I wanted to achieve is a company called Wheels Up.”
Virgin kept Smart Charter's assets despite Duffy's buyout attempts
“So Virgin kept it. I called them to try and buy it a couple of times.”
Scott Duffy personally funded Smart Charter with up to $20K monthly
“So I had all this money that I was putting out. Like how much? I don't know, 1015, 20,000 a month.”
Smart Charter granted 10% to 12% equity in stock options
“When we did the deal, I probably had, I would say 10 to 12% of the company had been given away.”
Daymond John invested in rib de-boning tech for Carl's Jr.
“So he invested in the company that somehow, and I don't know all the details, but D bones, it's able to D bone a rib. Right. This technology. And so what he's done is he's created using this technology, a baby back rib burger that they're now selling. They're …”