“Most people are oblivious to F.A. Hayek's insight that the critical information needed to run an economy - or even 15 percent of one - doesn't exist in any one place where it is accessible to central planners. Instead, it is scattered piecemeal among millions of people. All those people put together are far wiser and better informed than Congress could ever be. Only markets - private property, free exchange and the price system - can put this knowledge at the disposal of entrepreneurs and consumers, ensuring the system will serve the people and not just the political class.” PeopleRunningTogetherPoliticalClassMillionsEconomyInformationNeededPercentEntrepreneurPropertyCongressInsightCriticalConsumersWiserPrivate PropertyObliviousPlannersHayek Author:John Stossel
“There was a study done in the early 20th century of all the entrepreneurs who entered the automobile industry around the same time as Henry Ford; there were something like 500 automotive companies that got funded, had the internal combustion engine, had the technology, and had the vision. Sixty percent of them folded within a couple of years.” YearsDoneCompanyVisionTechnologyStudyCenturyIndustryCouplePercentEntrepreneurInternalsEnginesSixty20th CenturyAutomobileCombustionAutomobile Industry Author:Eric Ries
“Very, very few entrepreneurs who accept a 51 percent partner in a new venture will get rich if they are also expected to run it. Control is mandatory.” IfsRunningAcceptingRichPercentEntrepreneurExpectedPartnersVentureGet RichNew Ventures Book:The Narrow Road: A Brief Guide to the Getting of Money Source: The Narrow Road: A Brief Guide to the Getting of Money