Larry Ellison's fascinating life is not always about caviar and giant yachts. Competitive famous Oracle CEO was once abandoned by her mother, dropped out of college and database engineer wannabe poor. "I have all the necessary conditions for success are not," said Ellison. Today, the 65-year-old billionaire entrepreneur enjoys the lifestyle of the rich and elegant. What makes it successful? Presumably this question can be answered with a trace of life.
Do not give in to circumstances.
Larry Ellison was born of unmarried mothers was 19 years old. When I was nine months, his mother gave him up for adoption by his aunt and uncle, the Russian-Jewish immigrants in Chicago's South Side.
When mature, Ellison moved to California, worked as a programmer for the next eight years. Then he went to set up the business with former boss, Robert Miner, to establish the forerunner of Oracle Systems Corp. Both of these partners struggle. Ellison even had to mortgage her house just to get additional credit limit. In 1980, Oracle had only eight employees with revenues of less than $ 1 million.
Thorough see opportunity.
Although poor, Oracle has one asset that will be worth millions. A few years earlier, Ellison found an IBM research paper circulating in the computer industry. This paper illustrates the pioneering database programming language called SQL. Big Blue may skip this possibility, but Ellison did not. He rewrote the language so that it can run on any computer. In 1981, when IBM allow all products to support SQL, Ellison also has prepared its products. As IBM's new PC pump them out, Oracle names the more jarring.
Maintain momentum.
Ellison's leadership style patterned like a Spartan warrior. He launched a vicious attack on the database software market, employing newly graduated MBA troops and hungry. Without mercy, he attacks the competitor's products. The value of their company more than doubled year on year, reaching $ 282 million in 1988.
Beware of promises.
Driven by the war commander, Oracle making promises that can not be accounted for. He claims that this software supports the VAX platform courtesy of Digital Equipment Corp., three years before it actually can do it. Large advertising boasted with full compatibility with IBM's DB2 database package, which turned out to be a patent forgery. "Until 1990, Oracle is quite well known as a product that simply announce," said Paul Cubbage, an analyst with Dataquest Inc. in Silicon Valley, scoffs that the Oracle product development as an overhead projector.
The importance of reputation and product quality.
Unfortunately, life is not always smooth. Ellison three times divorced. Employees gossip about young women mistress and acting with reckless driving. They enjoy the story of how the CEO they caught three consecutive days at the same speed traps, refused to pull over and screaming into the parking lot Oracle with the police in pursuit.
The company cope with shocks for the sake of shock. Oracle released version 6.0, a product full of bugs that can not be executed. Sales started to give numbers of credit offers outstanding before the contract is signed.
"This is a billion-dollar business that is already out of control," says former Oracle executive, Tom Siebel. "Internal information system is a disaster."
Thus, third-quarter profit in March 1990 fell 25 percent from expectations. In one of the biggest sell-off on Wall Street, the stock price fell to $ 7.875 overnight figures. Receivables swell to nearly 50 percent of annual sales. Oracle profit in the next quarter is minus 20 percent.
Then came the big events: In September, Oracle announced a loss of $ 28.7 million the first. The high price of $ 28.125 in early March, Oracle's stock price dipped to $ 5.375. The company lost 80 percent of the $ 3.7 billion market capitalization. The Securities and Exchange Commission launched an investigation to investigate the accounting practices forbidden in Oracle.
Take responsibility.
Ellison then could only lie on the Japanese-style mansion in Atherton, California, thinking about his life, he knew, was over. Then, as he was riding his bicycle along the coast of California, Ellison wondered to himself, "Am I the right person to rectify this situation?"
Then he made a decision. He has made a mess, and he had to clean it. "After much thought and soul searching, I was determined to stay," he recalls. "I realized that it does not matter with whom I will be replaced."
Move on.
Ellison then fired everyone involved. Hundreds of lieutenant and executives hit the red card. Gladly they leave what they believe to be a sinking ship.
But the ship was not sinking, even more powerful. Ellison and his new management team liquidate all accounts, tighten financial controls and introduce a new compensation system that put a price on the sales agent only when the product is actually delivered. In the middle of the process, Ellison took a vacation to Hawaii. While bodysurfing, he challenged the 13-foot waves that made him destroy his body dragged and hit the reef. Punctured lung, a broken neck. But Ellison refused to allow death to prevent him from bringing Oracle back to the surface. Company jump. The annual revenue for fiscal year 1995 is projected at $ 2.9 billion.
An investment for the future.
To ensure that Oracle is ready for the future era of video on demand, Ellison has invested approximately $ 60 million of his own money to buy a controlling share of Ncube Corp., beginners in Silicon Valley who are building supercomputers massively parallel. By utilizing thousands of microprocessors, each with an individual memory unit, they provide processing speed is much higher at lower cost than traditional mainframe or supercomputer. It's the only way, to serve video on demand at a reasonable price. If he mastered this technology, he will hold control over its future.
Enjoy the results.
Ellison showed Bill Gates who's boss. While Microsoft's revenues more than twice as Oracle, Ellison is widely seen as the only person in the computer business with cash net worth of $ 3 billion and the vision to challenge Microsoft and be No. 1. He follows a simple approach, "Buy the best, without compromise ".
Do not give in to circumstances.
Larry Ellison was born of unmarried mothers was 19 years old. When I was nine months, his mother gave him up for adoption by his aunt and uncle, the Russian-Jewish immigrants in Chicago's South Side.
When mature, Ellison moved to California, worked as a programmer for the next eight years. Then he went to set up the business with former boss, Robert Miner, to establish the forerunner of Oracle Systems Corp. Both of these partners struggle. Ellison even had to mortgage her house just to get additional credit limit. In 1980, Oracle had only eight employees with revenues of less than $ 1 million.
Thorough see opportunity.
Although poor, Oracle has one asset that will be worth millions. A few years earlier, Ellison found an IBM research paper circulating in the computer industry. This paper illustrates the pioneering database programming language called SQL. Big Blue may skip this possibility, but Ellison did not. He rewrote the language so that it can run on any computer. In 1981, when IBM allow all products to support SQL, Ellison also has prepared its products. As IBM's new PC pump them out, Oracle names the more jarring.
Maintain momentum.
Ellison's leadership style patterned like a Spartan warrior. He launched a vicious attack on the database software market, employing newly graduated MBA troops and hungry. Without mercy, he attacks the competitor's products. The value of their company more than doubled year on year, reaching $ 282 million in 1988.
Beware of promises.
Driven by the war commander, Oracle making promises that can not be accounted for. He claims that this software supports the VAX platform courtesy of Digital Equipment Corp., three years before it actually can do it. Large advertising boasted with full compatibility with IBM's DB2 database package, which turned out to be a patent forgery. "Until 1990, Oracle is quite well known as a product that simply announce," said Paul Cubbage, an analyst with Dataquest Inc. in Silicon Valley, scoffs that the Oracle product development as an overhead projector.
The importance of reputation and product quality.
Unfortunately, life is not always smooth. Ellison three times divorced. Employees gossip about young women mistress and acting with reckless driving. They enjoy the story of how the CEO they caught three consecutive days at the same speed traps, refused to pull over and screaming into the parking lot Oracle with the police in pursuit.
The company cope with shocks for the sake of shock. Oracle released version 6.0, a product full of bugs that can not be executed. Sales started to give numbers of credit offers outstanding before the contract is signed.
"This is a billion-dollar business that is already out of control," says former Oracle executive, Tom Siebel. "Internal information system is a disaster."
Thus, third-quarter profit in March 1990 fell 25 percent from expectations. In one of the biggest sell-off on Wall Street, the stock price fell to $ 7.875 overnight figures. Receivables swell to nearly 50 percent of annual sales. Oracle profit in the next quarter is minus 20 percent.
Then came the big events: In September, Oracle announced a loss of $ 28.7 million the first. The high price of $ 28.125 in early March, Oracle's stock price dipped to $ 5.375. The company lost 80 percent of the $ 3.7 billion market capitalization. The Securities and Exchange Commission launched an investigation to investigate the accounting practices forbidden in Oracle.
Take responsibility.
Ellison then could only lie on the Japanese-style mansion in Atherton, California, thinking about his life, he knew, was over. Then, as he was riding his bicycle along the coast of California, Ellison wondered to himself, "Am I the right person to rectify this situation?"
Then he made a decision. He has made a mess, and he had to clean it. "After much thought and soul searching, I was determined to stay," he recalls. "I realized that it does not matter with whom I will be replaced."
Move on.
Ellison then fired everyone involved. Hundreds of lieutenant and executives hit the red card. Gladly they leave what they believe to be a sinking ship.
But the ship was not sinking, even more powerful. Ellison and his new management team liquidate all accounts, tighten financial controls and introduce a new compensation system that put a price on the sales agent only when the product is actually delivered. In the middle of the process, Ellison took a vacation to Hawaii. While bodysurfing, he challenged the 13-foot waves that made him destroy his body dragged and hit the reef. Punctured lung, a broken neck. But Ellison refused to allow death to prevent him from bringing Oracle back to the surface. Company jump. The annual revenue for fiscal year 1995 is projected at $ 2.9 billion.
An investment for the future.
To ensure that Oracle is ready for the future era of video on demand, Ellison has invested approximately $ 60 million of his own money to buy a controlling share of Ncube Corp., beginners in Silicon Valley who are building supercomputers massively parallel. By utilizing thousands of microprocessors, each with an individual memory unit, they provide processing speed is much higher at lower cost than traditional mainframe or supercomputer. It's the only way, to serve video on demand at a reasonable price. If he mastered this technology, he will hold control over its future.
Enjoy the results.
Ellison showed Bill Gates who's boss. While Microsoft's revenues more than twice as Oracle, Ellison is widely seen as the only person in the computer business with cash net worth of $ 3 billion and the vision to challenge Microsoft and be No. 1. He follows a simple approach, "Buy the best, without compromise ".
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