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The Story of Timothy Dexter

Discussion in 'BlackHat Lounge' started by t0.sh, Sep 4, 2012.

  1. t0.sh

    t0.sh Registered Member

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    Timothy Dexter was born into poverty in Massachusetts in 1748. He had no schooling as remained largely uneducated until the end of his life. By the age of 8 he was working as a farm laborer, he became an apprentice to a leather-dresser at 16. In 1770 he married Elizabeth Frothingham, a rich widow and brought a mansion. He began to make acquaintances and like most people of limited intelligence offered friendship and naturally assumed it would be returned to him. He was reasonably skilled but still considered a half-wit by many, as such many of his social contemporaries gave him bad business advice in order to discredit him. When people gave him advice, he thought it must be good so acted on it.

    At the end of the American Revolutionary War he bought larges amounts of depreciated Continental currency that was worthless at the time. After the war was over, the U.S. government made good on the dollars and by the time trade connections resumed, he had amassed a fortune. He built two ships and began an export business to the West Indies and to Europe.

    He was inspired to send warming pans (used to heat sheets in cold New England winters) for sale to the West Indies, a tropical area. Sugar Refiners soon discovered that the warming pans were excellent for straining out the cooking sugar and were even better at refining molasses. this shipment quickly brought him a second fortune.

    People jokingly told him to "ship coal to Newcastle" which at the time was one of the biggest coal producing cities in the world. He filled one of his ships with coal and sent to ship to Newcastle, under normal circumstances this would have ruined him, but as luck would have it his shipment arrived in the middle of a miners strike. The shipment was sold at a premium.

    Another time, people told him he could make money shipping gloves to the South Sea Islands. His ships arrived there in time to sell the gloves to Portuguese boats on their way to China. They told him to round up all the stray cats he could find and send them to the Caribbean islands. His ships made landfall on islands that were overrun by rats, and the cats fetched premium prices. He also hoarded whalebone by mistake, but ended up selling them profitably as a support material for corsets. Another person told him to send wool mittens to Barbados. In Barbados, the mittens were quickly bought up by Asian traders who then exported them to Siberia.

    By the end of his life, he owned a huge estate in Chester, New Hampshire. He had an army of servants, and wrote a book about himself. Even though the book was extremely difficult to read (almost no punctuation), it quickly sold out and ran to eight editions.

    The luckiest man in the world had simply done what other people had told him to do. The most important lesson to learn from this; the only certain path to failure is to not try.

    http://en.wikipedia.org/wiki/Timothy_Dexter
     
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    Last edited: Sep 4, 2012
  2. silentthunder

    silentthunder Jr. VIP Jr. VIP Premium Member

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    Nice story.
     
  3. B. Friendly

    B. Friendly BANNED BANNED

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    http://en.wikipedia.org/wiki/Timothy_Dexter

    Reads like it was written by an 8th grader.
     
    Last edited: Sep 4, 2012
  4. t0.sh

    t0.sh Registered Member

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    1. Thank you.
    2. How does one become professionally embarrassed? Seriously, sounds like a great career.
    3. In case you hadn't noticed, this post is in the Blackhat Lounge. Not everything here has to be about IM or SEO. As the forum description says "Almost anything goes here".
     
  5. SEOWhizz

    SEOWhizz Power Member

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    Yes, almost anything goes, but the trouble is people here ain't dumb.

    Although that piece of history may be inspiring to some, it may have helped your cause if you linked to the original source, because your OP implies it's all your own work. If you simply re-wrote a wikipedia article then say so. ;)

    [EDIT]No worries, you're new here, so it may get some getting used to!
    V
    V
     
    Last edited: Sep 4, 2012
  6. t0.sh

    t0.sh Registered Member

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    I never meant to imply it was my own work, I now realise a link would have helped.
     
  7. B. Friendly

    B. Friendly BANNED BANNED

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    Maybe next time you can paste a story about how some marginally retarded employee from Taco Bell purchased a winning Lotto Ticket, and how he should give inspiration to us all about how we might also succeed.
     
  8. orion_pt

    orion_pt Jr. VIP Jr. VIP Premium Member

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    cool story, never mind the haters
     
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  9. B. Friendly

    B. Friendly BANNED BANNED

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    Please, tell us then, exactly what was "cool" about it. Please explain in your own words why you thought this particular story is interesting or entertaining. Also, please define the word "hater" as I've never really understood what it means.
     
  10. LBrown

    LBrown Senior Member

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    I like the story. Sometime success comes thanks to luck but it never comes from laziness.
     
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  11. Hackerbuddha

    Hackerbuddha Registered Member

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    Good story but if he was unlucky once he would have been wipe out. Anyone walking blind folded can easily run over by cars. Not something we should learn from.
     
  12. chris1025

    chris1025 Regular Member

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    Step 1: Marry a rich widow so that you can start your own business venture.
     
  13. Hackerbuddha

    Hackerbuddha Registered Member

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    Marry a rich widow so you can keep losing money.
     
  14. Sampler

    Sampler Senior Member

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    Mental note: Travel back in time and tell this guy to ship me all his money.
     
  15. chrishas

    chrishas Registered Member

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    I love the story. I've heard that many millionaires wind up losing their shirts more than once, but keep on trying and eventually find success, after learning what doesn't work - and then stop doing it. It's inspirational to me. Thanks