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Niagara on the Lake, Ontario, Canada
My virtue is that I say what I think, my vice that what I think doesn't amount to much.

Tuesday, March 28, 2017

Ernest Hemingway, Venture Capitalist


Ernest Hemingway had a rough time with his Italian publisher, Einaudi, the venerable Turin-based house that still prints a good portion of his titles today. The issue, as is so often the case, was money: Einaudi, Hemingway complained, were communists looking for any excuse to withhold his overdue royalties. After 1947, he’d grown so exasperated that he refused to publish another book with them. So it’s all the more startling to discover that in the spring of 1955, he quietly agreed to convert a large part of his growing credit with the house into company stock, becoming a major shareholder overnight. Hemingway was usually very prudent with his money—and the chronically mismanaged Einaudi was hardly a safe investment. But having a stake in the publication of his own books, he hoped, would make it easier to get his hands on his growing pile of Italian cash...More here

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