Summary of MILLONARIO Se Quedó En La Quiebra Y... 😱😱

00:00:00 - 00:15:00

The video discusses the life of James Bullock Lance, the founder of the JBL audio company. It tells the story of how he started the company and how it eventually became successful. The video also discusses how Lance killed himself in 1949 and how the company was acquired by Samsung in 2016.

• 00:00:00 James Martin, a young man from a poor family who became a genius due to his father being a miner, started his own audio company in the early 1900s. His brother Bill tells the story of James' extraordinary life, from his childhood to his invention of the earphone, which revolutionized the way people hear music. James' story is a tragic but inspiring one, and will relax you while you enjoy the story of JBL. James' journey began in 1902 in the mining town of Ningbo, in China, and the beginning of his American journey began in 1909 when he moved to Springfield, Illinois to attend public school. After working as a mechanic and car dealer, James and his partner Ken Baker decided to move to Los Angeles in 1924 and start their own audio company. The company was registered on September 9th of that year.
• 00:05:00 The video discusses how James Bullock Lance, the founder of the famous jbl brand, killed himself in 1949. The video goes on to discuss how having a good talent but being weak in other aspects of your business can be a downfall.
• 00:10:00 In 1953, Bill Thomas, then vice president of JBL, acquired a life insurance policy for 10,000 dollars, making his company the beneficiary. This allowed Thomas to continue running and eventually bring JBL back to prominence, despite being very cautious. In 1969, Bill Thomas bought a third of the company that belonged to the widow of Lance Lance, becoming the owner of JBL. It is said that JBL thought Lance would be able to manage the company, but Lance's wife sold the rest of the company without wanting to complicate her life. This is similar to the story of the Peterbilt trucks, where the founder (after a life of arduous work) inherits the company to his wife and children but simply the wife (not wanting to work and be responsible for the company) sells it at a ridiculously cheap price to private businessmen. Bill Thomas then became the owner of JBL, keeping the name despite beginning an international period of development in 1975. That year, JBL released the Titanio-coated StrongBox Land speaker. In 1977, the presence of JBL monitors in recording studios was highly superior to those of many other brands on the market. They also introduced the technology of surround sound in diamond-shaped diaph
• 00:15:00 In 2016, Samsung acquired JBL, and formed a partnership with the company to continue producing quality audio products. Thanks to the community of entrepreneurs, we've reached the end of this video. Remember, you can contact us at the links we provide in the description. We take your comments very seriously, and will continue to create content like this in order to help entrepreneurs. If you have any suggestions for future topics, let us know in this video. Thanks for being a part of this community of entrepreneurs.