... Lore was in his late 20s and making a half-million dollars a year in banking when he decided to strike out on his own. His first big success was Diapers.com, which he sold to Amazon.com Inc. in 2010. He quit Amazon after two years, started a competitor, Jet.com, and sold it to Walmart in 2016.
The lesson Lore came away with from his entrepreneurial career was that the best ideas are those with low chances of success but high reward—the kind he saw B-school overachievers shying away from. “You get someone who’s used to getting straight A’s, and they just don’t want to be associated with failure,” he says. “It’s not logical to not take a shot at doing something with a 20% chance of changing the world. But people don’t do it. That’s the city: The size of the prize is to change the world.”
Lore started working on the idea of creating his own city almost as soon as he joined Walmart.
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The lesson Lore came away with from his entrepreneurial career was that the best ideas are those with low chances of success but high reward—the kind he saw B-school overachievers shying away from. “You get someone who’s used to getting straight A’s, and they just don’t want to be associated with failure,” he says. “It’s not logical to not take a shot at doing something with a 20% chance of changing the world. But people don’t do it. That’s the city: The size of the prize is to change the world.”
Lore started working on the idea of creating his own city almost as soon as he joined Walmart.
read more
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