So what do Dominic Carosa, founder of Destra Corporation worth $100m, and Steve Jobs, founder of Apple (priceless), have in common? Both are college dropouts, both began their business from their garage, both became rockstar entrepreneurs before 30, and both have been sacked from their own companies.
You’re probably asking the same question I am. How the hell did two of our coolest and hottest entrepreneurs get sacked from their own companies?
Here’s the scoop.
April 8, 1983: Steve Jobs lures John Sculley, President of Pepsi, to Apple by telling him “Do you want to spend the rest of your life selling sugared water or do you want to a chance to change the world?”
May 24, 1985: John Sculley fires Steve Jobs, founder of Apple.
May 2000: Dominic Carosa floats Destra on the Australian Stock Exchange minutes before the US market crashed
April 23, 2008, 12AM: Destra fires Dominic Carosa, founder of Destra
As Apple and Destra grew, Steve and Dom hired people who they thought were very talented to run the company with them. All went well for a while for both companies, but than visions diverged! Now the thing with public companies is that millions of dollars may pour in overnight, but the entrepreneur relinquishes their power and is forced to bow down to shareholders and a board of directors whose compulsory meetings can seriously screw things up. Richard Branson would also know.
1986 – Virgin goes Public, raises £30 million
1988 – Virgin goes back to Private
“Our year of being a public company, was Virgin’s least creative” – Richard Branson
Moral of the story?
We must take care not to make intellect our god. It has, of course, powerful muscles, but no personality. It cannot rule, only serve.
– Albert Einstein
Entrepreneurs thrive on creativity and creation. Dom, Steve and Richard are commercial gods of creation, whose world apocalypsed in the hands of people who hailed no such worth in creativity. Choose the right people with the right visions and values, and they are your greatest asset. Choose the wrong people with different visions and values, and they are your most destructive liability.
All the best to every rockstar entrepreneur out there,
Little Miss Entrepreneur