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February 17, 2020
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TOGETHER WITH
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<p style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 10px;">
<strong>
As holidays go, Presidents Day is a freakin’ Frankenstein.
</strong>
It officially honors George Washington’s birthday -- February 22, 1732. Almost 250 years later, the feds moved it to the third Monday in February, to give government workers another Monday off (nice work, if you can get it!). These days, it’s mostly known as a bonanza for retail sales.
</p>
<p style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 10px;">
This holiday, we’re putting a presidential spin on business and entrepreneurship.
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<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
We’ll test your knowledge of some lesser-known entrepreneurial presidents.
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<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
You’ll discover how presidents make money after their time in office.
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
And our small biz of the week tells the story of a president’s fashion failure.
</li>
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Quiz Time
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<h2 style="font-family: Helvetica, sans-serif; font-size: 22px; font-weight: bold; line-height: 26px; margin: 5px 10px;">
How well do you know your entrepreneurial presidents?
</h2>
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<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
President Trump is hardly the only entrepreneur to occupy the Oval Office. But how familiar are you with the others?
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
<strong>
Test your knowledge by tackling this quiz (answers at the bottom of the email).
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
We’ll start with an easy one.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
1️⃣
<strong>
Call him Mr. President, not Mr. Peanut.
</strong>
His family owned thousands of acres of Georgia peanut-farming land, plus a warehousing business. The biz was placed into a blind trust during his presidency -- it was $1m in debt by the time he left office.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
2️⃣
<strong>
Maybe he should’ve stuck to fashion.
</strong>
He cut his teeth as a tailor’s apprentice, starting as a teenager. His shop in Tennessee is a national historic site. He was the first president to be impeached, in 1868.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
3️⃣
<strong>
El Bloombito ain’t the only media mogul who wants to be prez.
</strong>
In 1884, this president and friends bought a struggling Ohio newspaper for $300. The turnaround catapulted him into state politics and then the White House.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
4️⃣
<strong>
How’s this for a cool nickname?
</strong>
Some experts call him a “doctor of sick mines,” from his days as an engineer in the late 19th and early 20th century. No, he’s not related to the first director of the FBI, who shares his last name.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
5️⃣
<strong>
"The chief business of the American people is business."
</strong>
That’s a somewhat famous quote attributed to this president, who spent time in banking. He served as Veep for another president in this quiz, and took over when his running mate died in office.
</p>
</td>
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<tr>
<td>
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<tbody>
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<td style="padding: 0px;">
<table style="border-spacing: 0px; width: 100%;">
<tr>
<td style="padding: 0px 0px 6px;">
<a style="color: #ff5a41; text-decoration: none;">
<img alt="Bill Clinton playing a saxaphone image" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Fclinton_20200215004551.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXN7r:2ii_6MTxPb0Ig7yBht7idWWJFRQ3E-OB8R8A-OiqQu0" style="height: auto; width: 100%;"/>
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<table style="border-spacing: 1px;">
<tr>
<td style="color: #FF5A41; font-family: 'Helvetica',sans-serif; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; padding: 10px 10px 0px; text-transform: uppercase;">
Oval Office Opportunists
</td>
</tr>
</table>
</td>
</tr>
<td align="left" style="font-size: 16px; font-weight: bold; text-align: left;">
<h2 style="font-family: Helvetica, sans-serif; font-size: 22px; font-weight: bold; line-height: 26px; margin: 5px 10px;">
How do presidents make money after they leave office?
</h2>
</td>
<tr>
<td align="left" style="font-size: 12px; font-weight: bold; letter-spacing: 0.3px; padding: 0px; text-align: left;">
</td>
</tr>
<tr>
<td>
<table cellpadding="0" style="border-radius: 12px; padding: 1px 10px; width: 100%;">
<tr>
<td class="h2020 ignore-defaults">
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Since presidents command a fairly hefty salary (today, it’s $400k) while they’re in office, you might assume they’re flush by the time they leave the White House.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
But that’s not always the case.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
In fact, several presidents actually went
<em>
into debt
</em>
after they left the Oval Office: Most recently, Bill Clinton walked out of the White House with $16m of
<a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
debt
</a>
.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Presidents
<em>
do
</em>
earn annual lifetime pensions (today’s are $213.6k/year), but Ol’ Billiam dug himself out of the hole by going big on the speaking circuit and inking book deals.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
<strong>
But Bill wasn’t the original Oval Office opportunist
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
For most of history, ex-presidents who continued giving public speeches did so for free: Rutherford B. Hayes, Teddy Roosevelt, Herbert Hoover, and Harry Truman all delivered numerous speeches but
<a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
refused compensation
</a>
for doing so.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
But that all changed with President Gerald “Jer Bear” Ford. He wasn’t so shy about cashing in on his commander-in-chief experience.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
<strong>
Ford figured: ‘Why not take a post-Prez victory lap?’
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
When Ford left office in 1977 (after serving as president for just 895 days), he began giving paid speeches across the country --
<a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
collecting
</a>
a cool $25k per speech.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
But as it turned out, Ford’s going rate for his speeches was chump change compared to the spendy speeches sold by his successors.
</p>
</td>
</tr>
<tr>
<td style="padding: 0px 0px 6px;">
<a style="color: #ff5a41; text-decoration: none;">
<img alt="Bill Clinton playing a saxaphone image" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Fspeech_20200215004902.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXN7r:2ii_6MTxPb0Ig7yBht7idWWJFRQ3E-OB8R8A-OiqQu0" style="height: auto; width: 100%;"/>
</a>
</td>
</tr>
<tr>
<td class="h2020 ignore-defaults">
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
<strong>
And he talked his way into more than just speeches
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Ford was an Oval Office opportunist from start to finish: In addition to cashing in on paid speeches, Ford also collected fees for appearing at events ranging from big conventions to the opening of a shopping center.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
And he didn’t stop there.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Ford also served on a number of
<a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
corporate boards
</a>
-- including 20th Century Fox and American Express -- and was known for taking presidential
<a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
power naps
</a>
in board meetings.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
<strong>
Thus began the era of the Capitalist-in-Chief
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
By cashing in on events, speeches, and corporate board seats post-presidency, Ford managed to increase his net worth by more than 400%.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
But some other presidents have done even better.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Here are the modern presidents (Nixon and beyond) whose net worth increased most dramatically after their election:
</p>
</td>
</tr>
<tr>
<td style="padding: 0px 0px 6px;">
<a style="color: #ff5a41; text-decoration: none;">
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</a>
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<td class="h2020 ignore-defaults">
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<td>
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<tr>
<td style="padding: 0px 10px;">
<table style="width: 100%;">
<tr>
<td style="padding: 0px;">
<table style="border-spacing: 0px;">
<tr>
<td bgcolor="#ffffff" style="background: #ffffff; color: #5f5f5f; font-family: 'Helvetica',sans-serif; font-size: 16px; font-weight: 600; letter-spacing: 1.5px; padding: 10px 0px 0px; text-transform: uppercase;">
Sponsored
</td>
</tr>
</table>
</td>
</tr>
<tr>
<td class="h2020 ignore-defaults">
<h2 style="font-size: 20px; font-weight: 800; letter-spacing: 0px; line-height: 24px; margin: 20px 0 0px;">
<strong>
Geologie cleaned up with 3X grooming awards in 2019 (Men’s Health, Esquire, & AskMen)
</strong>
</h2>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
That’s 3 awards from 3 of the biggest men’s mags in the game. Pretty impressive for a company founded less than 2 years ago.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
To understand how this
<a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
skincare brand
</a>
cleaned up so thoroughly, you just have to look closer -- because baby, it’s all about care.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
<strong>
A skincare brand that actually cares
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
<a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
Geologie
</a>
reinvented men’s skincare by putting people first. Everything they do is done with you in mind, ensuring that you not only get the perfect product you need, but that every step of the process is simple, logical, and tailored to you:
</p>
<ul style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0; padding-bottom: 10px; padding-left: 12px;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Routines that adapt to your lifestyle, not the other way around
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Multiple bottles for home and the gym/work, so you’re good to go wherever you go
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Products personalized to your needs, whether that’s sensitive skin, acne, or wrinkles
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<a style="color: #ff5a41; text-decoration: none;">
Flexible purchase options
</a>
so you can get just the products you want, when you want
</li>
</ul>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Hell, one of their co-founders even personally handles most customer service requests. If that’s not care, I don’t know what is.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Point is, it’s time to start giving your skin the care it deserves. Get your
<del>
face
</del>
hands on a
<a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
30-day Geologie trial set
</a>
for just $37,
<strong>
plus save 30% with code HUSTLE30.
</strong>
(You’ll thank them later.)
</p>
</td>
</tr>
<tr>
<td align="center" style="padding: 10px 0px 15px; text-align: center;">
<a style="-webkit-text-fill-color: #ffffff; background: #828282; border-radius: 15px; color: #ffffff; font-size: 16px; font-weight: bold; padding: 6px 20px; text-decoration: none;">
Snag your set →
</a>
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<td style="padding: 0px;">
<table style="border-spacing: 0px; width: 100%;">
<tr>
<td style="padding: 0px 0px 6px;">
<a style="color: #ff5a41; text-decoration: none;">
<img alt="Abraham Lincoln with a pie image" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Flincoln_20200214191655.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXN7r:2ii_6MTxPb0Ig7yBht7idWWJFRQ3E-OB8R8A-OiqQu0" style="height: auto; width: 100%;"/>
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<tr>
<td>
<table style="border-spacing: 1px;">
<tr>
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Startup Founding Fathers
</td>
</tr>
</table>
</td>
</tr>
<td align="left" style="font-size: 16px; font-weight: bold; text-align: left;">
<h2 style="font-family: Helvetica, sans-serif; font-size: 22px; font-weight: bold; line-height: 26px; margin: 5px 10px;">
And don’t worry: The founding fathers got their pieces of the pie, too
</h2>
</td>
<tr>
<td align="left" style="font-size: 12px; font-weight: bold; letter-spacing: 0.3px; padding: 0px; text-align: left;">
</td>
</tr>
<tr>
<td>
<table cellpadding="0" style="border-radius: 12px; padding: 1px 10px; width: 100%;">
<tr>
<td class="h2020 ignore-defaults">
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Since recent presidents have made their fortunes from speeches at shopping centers and book deals with multinational publishers, it may seem like their predecessors in the olden days may not have had as many opportunities to strike it rich.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
But early presidents did pretty well financially, too: Of the 10
<a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
richest presidents in history
</a>
, more were born in the 1700s than in the 1900s (inflation adjusted, of course).
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
<strong>
That’s right... George Washington was a startup founder
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
After leaving the nation’s highest office, George Washington started a commercially successful whiskey distillery.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
As the
<a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
website
</a>
for Washington’s estate, Mount Vernon, explained:
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
<em>
“Always keen to enterprises that might earn him extra income, Washington was intrigued by the profit potential that a distillery might bring in.”
</em>
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
<strong>
President Lincoln was a tech nerd, too
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
It’s true: Honest Abe was the first (and remains the only) president to receive a US patent.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Sadly, the invention -- a device for lifting riverboats over sandbars -- was never produced (
<em>
you might say it never got past its Kickstarter phase
</em>
).
</p>
</td>
</tr>
<tr>
<td>
<table cellpadding="0" style="padding-top: 0px; width: 100%;">
<tbody>
<tr>
<td>
<table style="text-align: right; width: 100%;">
<tbody>
<tr>
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Small business of the week: Harry Truman’s fashion flop
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<em>
Hope you enjoy this throwback special in place of our regularly scheduled small biz feature.
</em>
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Shirts, belts, gloves, hats. You could find it all at Kansas City’s Truman & Jacobson haberdashery, which opened its doors on November 28, 1919. Harry Truman launched the men’s clothing store with a wartime pal, Eddie Jacobson.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Jacobson had 10 years of experience in the clothing biz, so at first, the store was a success. But when the economy tanked in the early 1920s, the cash stopped pouring in. The store held a going out of business sale in September 1922, leaving Truman on the edge of ruin.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Jacobson declared bankruptcy in 1925, but Truman never did. The presidential historian Michael Beschloss
<a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
wrote
</a>
that Truman’s business failure had a major influence on his handling of the nation’s finances as president.
</p>
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<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Founders:
</strong>
Harry Truman, Eddie Jacobson
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Years in business:
</strong>
3
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Funding methods:
</strong>
Sold holdings in family farm (including hundreds of hogs), loans
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
1st-year revenue:
</strong>
an estimated $70k in 1920 (about $900k today)
</li>
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