The Million Dollar Car
A true-ish story about the Business we call show.
The Beginnings
On June 4, 1978, at a party on the Paramount Pictures lot in Los Angeles, Robert Stigwood and John Travolta were in attendance. Robert Stigwood, the music impresario, was known as the manager of the Bee Gees and the executive producer of the iconic movie “Saturday Night Fever.” Meanwhile, John Travolta, the iconic actor, played the lead role in the film.
The deal
Alan Smithee, a friend and mentor of the late Robert Stigwood, was also involved in the movie “Saturday Night Fever.” He had a story to tell about the picture, expressing his dislike for it and even referring to John Travolta as a “weirdo” and a “not a nice person.” However, Stigwood offered Alan an opportunity to exit his deal by purchasing his points in the picture. Alan stated a desire for a new Jaguar XK-E, a lavish foreign sports car, which cost fifty thousand dollars.
The Purchase
Robert Stigwood, true to his word, showed up the next day with a briefcase full of Money and a lawyer’s letter. Alan took the briefcase to the dealership, fulfilling his longtime dream of owning the luxurious foreign car. His purchase of the car was valued at a cost of a million dollars, a testament to the success of the movie “Saturday Night Fever.”
The Success
The movie goes on to become a smash hit, selling fifteen million records and achieving the status of the biggest selling rock album of all time. The soundtrack, coupled with the success of the movie, garners massive financial success, making what would be half a billion dollars today. The Bee Gees, Morris and Barry Gibb, celebrate the remarkable success aboard Stigwood’s yacht, “America.”
The Irony
Alan Smithee humorously references his car, stating, “That car cost me a million dollars.” Ironically, during the same year, Ronald Wayne, an Apple co-founder, cashed in his stock for $800, shortly after his official involvement in the company. Today, had he retained his stock, it would be valued at nearly $100 billion, making him one of the wealthiest individuals globally.
The Lesson
This fascinating tale sheds light on the irony of financial decisions and the potential consequences of speculative actions. It serves as a reminder of the value of long-term investments and the impact of impulsive decisions on future success. In the world of Business, hindsight often underscores the significant impact of individual choices on financial outcomes.
Conclusion
As we reflect on these contrasting anecdotes, we are reminded of the delicate nature of financial decisions and the potential magnitude of their impact. The story of the million-dollar car serves as both a cautionary tale and an intriguing insight into the intersection of art, Entertainment, and financial implications.
We are left to ponder the significance of the choices we make and the unique paths that each decision may lead us down. It is in these intersections of creativity, Commerce, and personal expression that the true value of our actions becomes apparent, shaping our journeys and leaving an indelible mark on our lives and those around us.
Source: forbes
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