Restoring some fairness and balance to the story of Roger Ailes
If I were to ask you — you being the average, massively well-informed TAS reader — to identify the greatest living entrepreneur of the 21st century, whose name would spring to mind?
You might think first of Bill Gates. But no, he was one of the greatest entrepreneurs of the 20th century. And after he stepped down at Microsoft in 2000, much of his wealth was created by the two CEOs who followed him.
Or you might think of Steve Jobs of Apple. But no, he died five years ago.
If you are a heavy and undisciplined consumer of news media, you might think of Elon Musk. But no, for all its publicity, Tesla Motors lost more than $800 million in its most recently reported year. (Question: where can you find investors willing to lose hundreds of millions a year on a start-up? Answer: you can’t — the basic appeal of crony capitalism is that it covers losses from unwilling investors.)