How Milken Used High-Yield Bonds to Help Entrepreneurs

The transcript discusses the invention of high yield bonds as a means to fund new companies, contrasting it with traditional venture capital. It highlights the challenges faced by growth companies in 1974 due to banking system limitations and emphasizes the importance of not relying solely on financial institutions for capital. The text also explores the potential of future industries like cable and the significance of investing in talented individuals. Case studies of successful entrepreneurs such as Rupert Murdoch and Ted Turner illustrate the impact of passion and capital in building companies.

Why is it important to find talented individuals when investing in new ventures?

In what ways did Rupert Murdoch's experiences influence his approach to building a company?