Money Lessons

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• Groupon Said No to $6 Billion From Google, Then Fell 77%$6B→~$0.6BOffer refused → Market value, 2026

  In December 2010 a two-year-old coupon site walked away from what would have been Google's biggest acquisition. The IPO looked like vindication. Fifteen months later the founder was fired.

• Monopoly's Real Inventor Was Paid $500$500→80M setsInventor's payment → Sold by 1974

  A Washington stenographer patented a board game in 1904 to show how landlords get rich from rent. About 30 years later a Pennsylvania man sold a version of it as his own and became a millionaire. She got $500.

• Snapchat Turned Down $3 Billion in Cash From Facebook$3B→$24BOffer refused → IPO value, 2017

  In 2013 a two-year-old app with no revenue said no to Facebook's all-cash offer. Its 23-year-old CEO wanted more. Four years later the stock market valued the company at about $24 billion.

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  Blockbuster Could Have Bought Netflix for $50 Million$50M→$45.2BNetflix's asking price → Netflix revenue, 2025

  In early 2000 Netflix's founders flew to Dallas and offered to sell their company to Blockbuster for $50 million. Blockbuster said no. Ten years later Blockbuster was bankrupt.

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  Kodak Invented the Digital Camera, Then Went Bankrupt$16B→$1.07BRevenue, 1996 → Revenue, 2025

  In 1975 a Kodak engineer built the first digital camera and was told to keep quiet about it. Kodak made about $16 billion a year, mostly from film. In 2012 it filed for bankruptcy.

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  How Microsoft Bought DOS for $75,000$75,000→$331.8BPaid for DOS → Revenue, FY2026

  In 1980 IBM needed an operating system for its first PC. Microsoft didn't have one, so it bought one from a small Seattle company for a total of $75,000. In fiscal 2026 Microsoft had revenue of $331.8 billion.

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  The Apple Cofounder Who Sold His 10% for $800$800→$416BPaid for 10% → Apple revenue, 2025

  On April 1, 1976, Ronald Wayne owned 10% of a new partnership called Apple Computer. Eleven days later he signed out of it for $800. In fiscal 2025 Apple had revenue of $416 billion.

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  Yahoo Could Have Bought Google for $1 Million$1M→$402.8BAsking price, 1998 → Alphabet revenue, 2025

  In 1998 Google's founders reportedly offered their search technology to Yahoo for $1 million. Yahoo declined. In 2017 Yahoo's core business sold for $4.48 billion. In 2025 Google's parent took in $402.8 billion.

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  Jeff Bezos's Parents Put $245,573 Into Amazon$245,573→$30BParents invested → Stake value, 2018 est.

  In 1995 Jackie and Mike Bezos put $245,573 into their son's online bookstore. He told them there was a 70% chance they would lose every cent. Bloomberg later called it what may be the most successful venture investment of all time.

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  10,000 Bitcoin for Two Pizzas$41→$778MPizza price, 2010 → Same bitcoin, 2026

  In May 2010 a Florida programmer offered 10,000 bitcoin to anyone who would get him two pizzas. A 19-year-old took the deal for about $41 worth of coins. At Bitcoin's 2025 peak, those coins were worth $1.26 billion.

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  McDonald's: The Burger Chain That Is Really a Landlord0.5%→$10.4BBrothers' cut → Franchise rent

  In 1956 Ray Kroc was franchising McDonald's and barely making money. A finance man named Harry Sonneborn showed him a different business hiding underneath: own the land, rent it to the franchisees. In 2025 McDonald's collected $10.4 billion in rent.

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  Warren Buffett's $200 Billion Berkshire Hathaway Mistake$11.375→$200BPrice per share → Cost, by his estimate

  In 1964 a textile boss tried to pay Warren Buffett 12.5 cents a share less than they had agreed. Buffett was so annoyed he bought the whole company. He later called it the dumbest stock he ever bought, and put the cost at $200 billion.