Everyone makes mistakes but the following fatal mistakes caused huge losses to the individuals or companies. These mistakes are mostly of financial nature. These were published in the Economics Times of India.
Here is the countdown
No.1: Turning down J.K Rowling: 12 publishing houses rejected Harry Potter’s manuscript before Bloomsbury took her on the advice of company chairman daughter. Rowling has earned $ 1 billion till now
No.2 Throwing away that Bitcoin portfolio: James Howells bought 7500 bitcoins in 2009 when their value was next to nothing. The stock value rose to $911 per Bitcoin in 2013 giving James Howells a portfolio of worth $6.7 million. Only trouble was that he had thrown the hard drive away without a minute thought. Read “The Guardian Story”.
No.3. Not buying Google for $1 million: Larry Page and Sergey Brin went to sell the search engine to Excite CEO George Bell in 1999. Bell rejected the offer and now the value of Google is $365 billion.
No 4. Not shooting the Hitler: In 1914 the British soldier Henry Tandey came across the injured and unarmed lance corporal Adolf Hitler in a ditch but decided not to kill a soldier in cold blood.
No 5. Selling 610000 shares instead of 1: In 2005 a Japanese trader cost J-COM Co., Ltd. company $190 million after a so called “fat finger” trade in which he sold 610000 shares for 1 yen instead of selling 1 share for 610000 yen as he was supposed to do.
No.6 :Angering Genghis Khan: Genghis Khan sought to open diplomatic and trade relations with Ala ad din Muhammad the shah of neighboring Khwarezmid Empire, modern Iran during 13th century. After offer was rejected and a diplomat of Khan was beheaded, Khan attacked the kingdom with 2,00,000 strong army and utterly destroyed the empire.
No.7: Turning down Brian Acton and Jan Koum for a job: Facebook rejected them in a job interview in 2009 and a few years later Facebook paid $19 billion for “Whatsapp” which the duo founded after being rejected.
No.8 Ordering trains that were too wide: France spent $15 billion on a fleet of trains this year. Unfortunately they were too wide for 1300 platforms across the country requiring 50 million Euros to fix.
No 9. Signing Brian Poole and the Tremeloes: In 1962, record studio Decca auditioned two bands in their London studio deciding to sign Brian Poole and Tremeloes. The band they rejected was 4-piece outfit from Liverpool called Beatles
10. Misspelling a company name: Company sued British government for pound 9 million after a clerical error inserting a rogue “s” in the name causing the wrong company being named for liquidation. The company to be sued for was called Taylor and Son and with additional s became Taylor and Sons which collapsed after this wrong liquidation.