Howard Schultz

There's some magic going on here. It's not just the coffee. The coffee was the conduit. All right, so we're at the pivotal moment. Starbucks and Pete's gets into financial trouble. And the debt to equity was north of six to one for a company that was tiny. Jerry comes to me and says,

There's some magic going on here. It's not just the coffee. The coffee was the conduit. All right, so we're at the pivotal moment. Starbucks and Pete's gets into financial trouble. And the debt to equity was north of six to one for a company that was tiny. Jerry comes to me and says,

jane and i his wife are going to move to california and we're going to keep pete's and i'm going to sell starbucks and my heart is pounding i said okay and then he finished it and he says i think you're the person to buy starbucks i said that's fantastic but i don't have any money you're gonna give it to me no money how much is it 3.8 million dollars Now we're in 86, 87.

jane and i his wife are going to move to california and we're going to keep pete's and i'm going to sell starbucks and my heart is pounding i said okay and then he finished it and he says i think you're the person to buy starbucks i said that's fantastic but i don't have any money you're gonna give it to me no money how much is it 3.8 million dollars Now we're in 86, 87.

Now we get into a story I have told, but not 100%, because I protected the guy. But I'm going to tell it. I go out to raise money. I'm having a hard time. So Jerry gave me about, I think he gave me 90 days to raise $3.8 million. Around the second month, he just came to me and said, where are you with all this? And I think I had about half of it raised.

Now we get into a story I have told, but not 100%, because I protected the guy. But I'm going to tell it. I go out to raise money. I'm having a hard time. So Jerry gave me about, I think he gave me 90 days to raise $3.8 million. Around the second month, he just came to me and said, where are you with all this? And I think I had about half of it raised.

I might have fibbed a bit and said I had a little bit more, but I had about half. And he lays a bomb on me and says, Howard, listen, we're in a tight situation here. And one of your investors has put a cash, all cash offer on the table with no due diligence and wants to close right away.

I might have fibbed a bit and said I had a little bit more, but I had about half. And he lays a bomb on me and says, Howard, listen, we're in a tight situation here. And one of your investors has put a cash, all cash offer on the table with no due diligence and wants to close right away.

For him to take it over, not you.

For him to take it over, not you.

Yeah, yeah, I'm out. I'd be out. And I said, who is it? And he told me, I'll save that. And I'm absolutely annihilated, crushed, because I didn't have the wherewithal. And I could just envision as soon as I heard that name, I knew it was over. I was in a basketball league at the Seattle club. I'm playing basketball that night.

Yeah, yeah, I'm out. I'd be out. And I said, who is it? And he told me, I'll save that. And I'm absolutely annihilated, crushed, because I didn't have the wherewithal. And I could just envision as soon as I heard that name, I knew it was over. I was in a basketball league at the Seattle club. I'm playing basketball that night.

My good friend, Scott Greenberg, who's an attorney at a prestige firm in Seattle, the Gates firm. I'm basically crying to him after the game and telling him the story. And he says, you've got to come to the office tomorrow and meet our senior partner and tell him the story. Bill Gates, senior. I said, well- A titan. Incredible.

My good friend, Scott Greenberg, who's an attorney at a prestige firm in Seattle, the Gates firm. I'm basically crying to him after the game and telling him the story. And he says, you've got to come to the office tomorrow and meet our senior partner and tell him the story. Bill Gates, senior. I said, well- A titan. Incredible.

There were three titans there, but here is the titan. And Bill was six foot seven? He's six foot seven. He's a mountain of a man and very imposing. So nine o'clock in the morning, I put a suit on. I must've been sweating through my shirt. I was just so anxious, so nervous. At the same time, so scared about what was gonna happen. I go in there and I must've been trembling. I was just so nervous.

There were three titans there, but here is the titan. And Bill was six foot seven? He's six foot seven. He's a mountain of a man and very imposing. So nine o'clock in the morning, I put a suit on. I must've been sweating through my shirt. I was just so anxious, so nervous. At the same time, so scared about what was gonna happen. I go in there and I must've been trembling. I was just so nervous.

I tell him exactly what I just told him. And he interrupts me and he says, Howard, I'm just gonna ask you two questions. Is everything you told me true? I said, Mr. Gates, yes. Have you left anything out? No. And he says, come back in an hour. I said, okay, to do what? He says, I'll see you in an hour. And so we walk out. I'm walking around.

I tell him exactly what I just told him. And he interrupts me and he says, Howard, I'm just gonna ask you two questions. Is everything you told me true? I said, Mr. Gates, yes. Have you left anything out? No. And he says, come back in an hour. I said, okay, to do what? He says, I'll see you in an hour. And so we walk out. I'm walking around.

I think we probably went to Columbia Center to get a coffee and come back. I go back with Scott, and Mr. Gates says, Scott, I'm going to see Howard alone. And Scott leaves. Now I'm alone in his office. I hardly sit down, and he says, we're going for a walk. And I said, where are we going? And he says, we're going to see the man who was Sam Strom.

I think we probably went to Columbia Center to get a coffee and come back. I go back with Scott, and Mr. Gates says, Scott, I'm going to see Howard alone. And Scott leaves. Now I'm alone in his office. I hardly sit down, and he says, we're going for a walk. And I said, where are we going? And he says, we're going to see the man who was Sam Strom.