Spirit airlines should've copied FedEx
Posted by abarua01@reddit | CrazyIdeas | View on Reddit | 4 comments
For those unaware, In the early 1970s, Frederick W. Smith, the founder of FedEx, was struggling to keep the company alive. FedEx was burning through cash quickly, and at one point in 1973, the company had only about $5,000 left, which wasn’t enough to cover fuel costs for its planes.
Instead of shutting down immediately, Smith took the remaining money to Las Vegas and played blackjack.
He reportedly turned that $5,000 into about $27,000. That still wasn’t enough to fully save the company, but it was enough to:
Pay for fuel
Keep operations going for a few more days
Buy time to secure additional funding
Shortly after, FedEx managed to raise more money from investors and stay afloat. From there, it eventually grew into the massive global shipping company it is today.
Spirit was on its last legs and Dave Davis should've taken the last of the money for spirit and flew to Las Vegas and gambled it on blackjack to save the company
shponglespore@reddit
Who's to stay they didn't do that?
Biuku@reddit
There’s maybe 100:companies just like FedEx except this failed and you’ve never heard of them.
FreedomsLastBreathe@reddit
https://youtu.be/9WgGRMXzVQg?si=UdF_SRZfX5GSXl8W
174wrestler@reddit
He rather let the Spirit go bankrupt instead of having to fly on it Vegas.